Rémy Cointreau has dropped its 2030 sales growth targets, warning that weak US demand, trade tariffs, and overall market uncertainty have made its long-term ambitions no longer realistic.

The French drinks group, best known for Rémy Martin cognac and Cointreau liqueur, is facing a sharp slowdown in its two most important markets, the United States and China, alongside growing concern over international trade tensions.

In a statement, the company said: “Rémy Cointreau believes the conditions required to maintain its 2029–2030 targets are no longer in place.”

The announcement comes as the group today (4 June) reported that for its 2024-25 full year results, it experienced a 30.5% drop in annual organic operating profit, though the decline was smaller than analysts had expected. Sales also plummeted 18.0 % year on year, to €984.6m.

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Rémy Cointreau warned that in a worst-case scenario, increased tariffs could reduce its 2025/26 operating profit by a high-teens percentage, with a potential €65m (£55m) impact even after mitigation efforts.

It is understood that incoming CEO Franck Marilly- a former Chanel and Shiseido executive who last week was announced as a replacement for exiting boss Éric Vallat – will now be tasked with creating a new strategic plan for the business.

The company joins industry peers Diageo and Pernod Ricard in withdrawing long-term financial targets, as the premium spirits sector adjusts to post-pandemic market shifts, softer consumer demand, rising costs, and US tariffs.

Cognac, which makes up around 70% of Rémy’s total sales,  has been especially hard hit as consumers in both the US and China cut back on high-end spending and shift toward other spirits.