[Exclusive] After Whiskey, 'Cognac' Prices Also Rise... Louis XIII, R?my Martin, and Others Up to 30% Increase

Ayoung FBC, Remy Martin, Louis XIII and Others Price Increase
From the 1st of Next Month... 1.2~30%↑
Price Hikes Continue in the Alcohol Industry Starting with Soju

Remy Martin X.O Set. / Photo by Ayoung FBC Provided

[Asia Economy Reporter Song Seung-yoon] Cognac has joined the series of price hikes in alcoholic beverages such as beer, soju, and whiskey.

According to the industry on the 23rd, Ayoung FBC, an alcoholic beverage importer, has decided to raise the prices of cognac products by a minimum of 1.2% to a maximum of 30% starting next month on the 1st. By type, Louis XIII (700ml) will increase by 30%, Remy Martin V.S.O.P (700ml) and Remy Martin X.O (700ml, photo) will rise by 17.7% and 17.6%, respectively. Remy Martin 1738 (700ml) will also increase by 1.2%.

The price increase will take effect from the 1st of next month. Except for Remy Martin 1738, these items had already seen a price increase earlier this year. However, due to manufacturer price hikes and increased logistics costs caused by COVID-19, another increase has been decided after about five months.

An Ayoung FBC official said, "We do not decide the prices ourselves, but the manufacturer has already raised product prices, and logistics costs are continuously increasing, making the price hike inevitable."

Earlier this year, the alcoholic beverage industry saw a series of price increases. In the whiskey sector, Diageo Korea raised prices of its flagship products such as Johnnie Walker Blue Label, Red Label, and Black Label by 5-10% in April. In the same month, William Grant & Sons Korea also increased the supply prices of whiskeys like Glenfiddich, Balvenie, and Monkey Shoulder by up to 9.4%. Pernod Ricard Korea raised prices of major products such as Ballantine's, Royal Salute, and Chivas Regal by 4.6-8.99% starting in March.

In the beer industry, OB Beer started raising the ex-factory prices of Cass, Hanmac, and OB Lager by an average of 7.7% from March, followed by Hite Jinro increasing the ex-factory prices of Terra and Hite beers by an average of 7.7%, with craft beer companies also joining the price hike trend.

Soju prices also began to rise starting in February with Hite Jinro, followed by Lotte Chilsung Beverage, Muhak, Bohae Brewery, and Hallasan Soju all raising their product prices consecutively.

This content was produced with the assistance of AI translation services.