China's Corruption Crackdown Is Crushing Cognac Sales

China's crackdown on corruption, under the watchful eye of president Xi Jinping, is only gathering steam. French cognac maker Remy Cointreau continues to suffer from China's anti-graft campaign.  The alcoholic beverage company reported a 5.7% fall in revenues to €214.8 million in its first quarter. Remy Martin brand, which primarily makes cognac, saw organic sales plunge 15.3% in Q1. Sales in Asia Pacific were still impacted by destocking in China. Remy took a huge hit on Cognac sales last ye...