Luxury spending is set to benefit if US president-elect Donald Trump succeeds in lowering US taxes, spurring rich consumers to buy more, according to the chief executive of French cognac maker Remy Cointreau.

Both Diageo and Remy Cointreau reported sales that missed estimates, casting doubt over the outlook for distillers as growth slows in emerging regions.

French spirits group Remy Cointreau is in talks to buy Scottish whisky maker Bruichladdich Distillery as it looks to tap booming demand for whisky from emerging markets in Asia.