Bernstein: Remy Cointreau the “Best Performer” in Recent Months

Dear Client:   COVID category rotation has "kick[ed] into overdrive," with tequila, Cognac and Remy Cointreau as the biggest winners, according to a recent Bernstein note.  In the three months through August, pre-mixed cocktails, brandy, Canadian whiskey and tequila remained strong with signs of acceleration, while Scotch, bourbon and Irish whiskies are down on a relative basis.  "The market rotation appears to be driving much of the changes in share dynamics. In particular, the outperformance of Remy Cointreau, Moet Hennessy