Specialty brands were the bright spot for Pernod Ricard in its FY20 sales, with most of the rest of the portfolio taking a hit from the crisis like other businesses. Specialty brands grew 7%, particularly thanks to growth of Lillet, Altos and Redbreast.
Across the rest of the portolio, strategic international brands (such as Martell, Chivas Regal, Absolut and Ballantine’s) were down 10%, strategic local brands were down 9%, and strategic wines were down 4% (mainly due to Jacob’s Creek, despite growth of Campo Viejo).
'I am confident Pernod Ricard will emerge from this crisis stronger'
Pernod Ricard sales for FY20 totalled €8,448m, with an organic decline of -9.5%.
The French wine and spirits giant, however, champions its performance against a difficult backdrop. During FY20, it gained or held market share in its top 10 markets: gaining share in India, Japan, Germany, France and its Global Travel Retail division; while holding share in the US, Canada, China, Spain and Russia.
Alexandre Ricard, Chairman and CEO, said: “The Group has proven very resilient through FY20 and demonstrated its agility and ability to keep its supply chains operational, control costs and manage cash.
“For FY21, Pernod Ricard expects continued uncertainty and volatility, in particular relating to sanitary conditions and their impact on social gatherings, as well as challenging economic conditions.
“We anticipate a prolonged downturn in Travel Retail but resilience of the off-trade in the USA and Europe and sequential improvement in China, India and the on-trade globally.
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Pernod Ricard releases FY20 results; plans for continued uncertainty - BeverageDaily.com
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