Financially challenged Marie Brizard Wine & Spirts said in the near term it will focus on growing revenue in its U.S. subsidiary with a focus on sales in New York State and the Control States. The goal, it said, is for all units to be profitable by 2022.
It also seeks to improve the product mix, strengthening and activating higher-margin brands and those with higher growth potential, especially Marie Brizard and Cognac Gautier.
The U.S. efforts are just part of a global strategy of concentrating its resources on the brands that have the greatest value-creating capacity in the long-term. The company said it is evaluating its assessments and may dispose of some brands.
In France, “recovery will depend on increasing the revenue generated by its products,” the company said, adding this could “in the short term have a negative impact on volumes. The strategy will rely on the strength of the brands, the brand loyalty demonstrated by customers and the effectiveness of the money-for-value proposition.”
A similar strategy is being followed in Poland, with the addition of an effort to cut production costs.