Campari and Rémy Cointreau results show cognac and apéritifs propping up spirits groups

Campari Group reported first-half sales growth of 2.7%, driven largely by a strong showing from its apéritifs portfolio, which includes brands such as Aperol and Campari. The group also announced plans to divest its agricole rum brands, a move that signals a sharpening of focus toward its highest-performing categories rather than spreading investment across a broad portfolio. Divestitures of this kind have become more common across the drinks industry as groups look to concentrate capital on brands with the clearest growth trajectories.

Rémy Cointreau, meanwhile, reported first-quarter sales of €223.2 million, organic growth of 1.3%, with cognac sales up 7.7%. The cognac category has been one of the weaker spots in the spirits industry over the past two years, hit by destocking in the United States and softer demand in China, so a return to growth in Rémy's core category is a notable signal for the wider cognac trade, which also includes major houses under LVMH Moët Hennessy Louis Vuitton and Pernod Ricard.

Together, the two results suggest that after a prolonged period of destocking and cautious consumer spending, parts of the premium spirits market are beginning to stabilise. Apéritifs continue to benefit from the low and moderate alcohol trend, while cognac's rebound, even if modest, will be watched closely by rivals as a possible early indicator of a broader category recovery. What to watch: whether Rémy Cointreau's cognac growth holds through subsequent quarters, and how Campari's rum divestment reshapes its portfolio strategy over the coming year.

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