Oiling the Chinese Bureaucracy

Granted, this is not something particularly calculated to arouse your sympathy, but Le Monde tells us today how the famed French hard alcohol company Rémy Cointreau – the result of a merger in the early 1990s between Rémy Martin and Cointreau – has fallen on hard times.

Sales down 18.9% in IVQ 2013, down a total of 12.3% over the last three quarters of last year.

What seems to be driving most of this is a notable collapse in sales of the firm’s flagship Rémy Martin cognac: down 21% in that same April-to-December period. But it’s the hint as to why this is happening – contained in a link embedded within this article to another piece behind the Le Monde paywall – that is interesting. For sales are collapsing above all in China, where it seems a bottle of Rémy Martin is almost standard currency when it comes to “convincing” a local official to take some action in your favor. In other words, Rémy Cointreau is facing collateral damage from the People’s Republic’s current anti-corruption drive!

Look, don’t they teach these things at INSEAD, say? One must diversify one’s worldwide clientele of corrupt officialdoms! After all, there are so many to choose from!

Digg This
Reddit This
Stumble Now!
Buzz This
Vote on DZone
Share on Facebook
Bookmark this on Delicious
Kick It on DotNetKicks.com
Shout it
Share on LinkedIn
Bookmark this on Technorati
Post on Twitter
Google Buzz (aka. Google Reader)

Comments are closed.