人头马新CEO首秀：首要目标是重回增长 中国现复苏信号

Core Viewpoint - The new CEO of Rémy Cointreau, Franck Marilly, expressed confidence in restoring growth despite challenging market conditions, emphasizing a series of strategic measures including cost-cutting and structural adjustments [1][3]. Financial Performance - For the first half of the 2025-26 fiscal year, Rémy Cointreau reported sales of €489 million, reflecting an organic decline of 4.2% year-on-year, with Cognac sales down 7.6% and liqueurs and spirits up 4.1% [4]. - The Americas market saw double-digit growth, while the Asia-Pacific and EMEA regions experienced double-digit declines, significantly impacted by the Chinese market [4]. - In China, sales dropped by double digits, with Cognac sales in Q2 down 25%, influenced by policy changes and disruptions in the duty-free channel [4][10]. Market Recovery Signals - Management highlighted positive signals in the market, with both major business segments showing signs of recovery. E-commerce sales in China continued to grow rapidly, and inventory levels were reported as healthy [3][5]. - The CEO noted that the Q3 (October-December) period showed encouraging signs, with low single-digit growth during the Mid-Autumn Festival and mid-double-digit growth during the recent Double Eleven shopping festival [4][10]. Strategic Initiatives - The CEO outlined three main initiatives to improve performance: flexible pricing strategies, strong operational execution, and an appropriate product mix to enhance business resilience in China [5][12]. - The company aims to revitalize the Cognac category and accelerate the expansion of liqueurs and spirits, with a focus on immediate value creation through revenue initiatives [11]. Future Goals - The company has set a target for organic sales to be flat or show low single-digit growth for the current fiscal year, with the CEO's first year divided into phases of listening, rethinking, and igniting growth [10]. - Five strategic priorities were identified: restarting growth, reassessing brand portfolio, enhancing operational efficiency, improving cash generation, and creating a new organizational structure for agility [11].