Cognac sales keep rising according to French parent companies of Martell and Remy Martin. This situation is mostly fueled by Asian markets and the continuous momentum of lifting sales in the US.
In an article from Reuters Paris last week, an official representative from Remy concluded that there was a sign of recovery in the US!
["All group divisions and all regions contributed to this performance. Growth rates were particularly outstanding in Asia. Signs of the recovery in the U.S. and Western Europe are confirmed," the maker of Remy Martin cognac, Cointreau liqueur and Mount Gay Rum said in a statement.]
Interestingly, Remy noticed that the rising prices of Cognac in Asia were also positive factors of growth. That reminds me of my economics classes where it was mentioned about price elasticity and the different effect that it had for luxuries where compared to necessities a price increase would increase demand. Hence, cognac is a luxury!
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