Remy Cointreau Remy Martin's Global Cognac Company Sued In China For Fraudulent Products And Market Practices

Remy Cointreau (Stock Symbol - Paris: RCO), one of the world's three famous cognac brands, is now involved in a major lawsuit by its key Asia market agent. 

 

Unable to reach an agreement with Remy Cointreau, long-term exclusive agent Guangdong Huanfa ( Remfly ) Liquor Co., Ltd. - sole agent of Remy Martin, Louis XIII and Super series in China - filed a lawsuit against Remy Cointreau in several China jurisdiction.  Asia and China has been one of Remy Cointreau largest market.

 

Reportedly, Huanfa ( Remfly ) is seeking answers and restitution from Remy Cointreau for major and abnormal discovery of Chinese and Asian markets glutted with pirated products and regular products from Remy Cointreau found out of the normal distribution channels. The sole agent, Huanfa ( Remfly ), is seeking answers from Remy Cointreau who is now in need to explain about the pirated goods. 

 

In 2007, Remy Martin was still a relatively small and unknown brand in China, and its company Remy Cointreau financial status was relatively weak and troubled. Remy Cointreau seeking supporters found Guangdong Huanfa ( Remfly ) who came to the rescue investing major resources in sales network in China and Asia to help Remy Cointreau and its controlling family resulting not only in stabilizing its dire financial condition but started a 10 year market penetration campaign that resulted in building today's Remy Martin enviable billion-dollar brand position.

 

It is unfortunate that Remy Cointreau most capable and supportive agent have been forced to seek relief through the court system because Remy Cointreau is now seen as a bully that bites the hand that fed them.

 

Most disconcerting for the company is, under the current unstable market conditions, this lawsuit has raised many concerns about the future of Remy Cointreau and Remy Martin, its market and management practices where at the top there is a highly family-controlled company.

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