Lily Liu digs deeper into the preferred cognac brand of China's richest people.
Rémy Martin came top of the Best Cognac Category of the Entrepreneurs Lifestyle Survey. On hearing the news Zhang Jinxing, Commercial Director for Remy-Cointreau Asia, was delighted - but not surprised. "Our product is famous not only as the best, and for having a strong brand, but because it satisfies the vanity of consumers, the most important of all."
Brandy is made from the distillation of wine. The world's best brandy is made in the Province of Cognac, in France, from where it gets its name. Since being founded by the original Rémy Martin in 1724 the constant aim of this family business has been to make the best cognac in the world. The most expensive drink currently offered in the Rémy Martin range is the "Louis XIII," which will set you back a cool Rmb18,000 a bottle.
Since first coming to China in 1978 Rémy Martin has built its China market into one of its three biggest in the world, in terms not only of turnover, but also of interest and market potential. "Sales in China today account for 10% of our global sales," offers Zhang Jinxing. "Our best customers are from South China, especially Guangdong and Fujian provinces. Sales of alcohol in East China are much more diverse: Chinese distilled spirits, Chinese huangjiu, and imported wines sell best there. In the North of China Chinese distilled spirits lead the way. This represents an opportunity for Rémy Martin, as well as a risk." As the country's current development trends reach all aspects of people's lives in China, Zhang Jinxing believes that, "more and more people will develop a taste for imported alcohol."
Although the Rémy Martin brand is currently the leading imported alcohol brand in China, the challenge from competitors such as Hennessy and Martell cannot be overlooked. Therefore the company has reinforced its presence in China with extra aggressive marketing strategies in the last two years. What is being presented to the people in China is not only the Rémy Martin brand, but also an aspiration to the romantic culture and lifestyle of France.
"Open a bottle of Rémy Martin and good luck will descend upon you," is a well-known advertising slogan penned by the late Hong Kong songwriter James Wong. A chance of good luck combined with a delicate blend of social status seems to be the recipe for success.