- In July 2024, Pernod Ricard announced its decision to divest its portfolio of international wine brands to Australian Wine Holdco Limited. This strategic move is expected to enable Pernod Ricard to concentrate its resources and efforts on its core spirits business, aligning with shifting market dynamics and evolving consumer preferences within the alcoholic beverage sector. This divestment reflects a broader trend among premium spirit producers, including those in the global VSOP (Very Superior Old Pale) Cognac market, where brands are increasingly focusing on high-value segments and strengthening their position in the luxury and aged spirits market
- In April 2024, Rémy Martin, the prestigious cognac house, unveiled its renovated historic site in the heart of Cognac following a comprehensive three-year restoration project. This initiative involved close collaboration with local artisans and renowned artists, reflecting the house's commitment to preserving its legacy while embracing modernity and innovation. This reinvigoration of Rémy Martin's iconic location aligns with broader trends in the global VSOP (Very Superior Old Pale) Cognac market, where brands are increasingly focused on elevating consumer engagement and emphasizing craftsmanship
- In August 2023, Courvoisier, the renowned Cognac brand, partnered with the House of Suntory to launch the second edition of its Mizunara cask-finished expression, the Courvoisier Mizunara 2023 Blend. This move incorporating Mizunara oak into its aging process, Courvoisier taps into a trend of cross-categoric experimentation, enhancing the appeal of its Cognac offerings to discerning connoisseurs and further solidifying its position in the luxury spirits market
- In July 2023, Rémy Martin launched its new global campaign, "Life Is a Melody," featuring Grammy-winning global superstar Usher. This strategic collaboration highlights the brand's dedication to celebrating its craftsmanship and legacy while connecting with a broader, younger, and more diverse audience. This initiative is particularly relevant to the global VSOP (Very Superior Old Pale) Cognac market, where brands are increasingly leveraging high-profile partnerships and impactful campaigns to engage a more aspirational and experience-driven consumer base
- In April 2024 marked the reopening of the prestigious Rémy Martin house’s historic flagship location in the heart of Cognac following a three-year renovation. The project was meticulously designed to preserve the brand’s rich heritage while incorporating a contemporary and innovative spirit. This initiative contributes to increase the demand for high-quality, heritage-driven products continues to rise. By merging tradition with innovation, Rémy Martin further solidifies its position as a leading luxury brand, appealing to both classic Cognac enthusiasts and a new generation of premium spirits consumers
