Moët Hennessy Posts 10% Sales Jump, But Warns Supply Issues Could Impact Second HalfJuly 27, 2017
Hennessy Cognac continued to drive strong gains across Moët Hennessy’s global business in the first half of 2017. For the six months through June, Moët Hennessy’s global sales rose 10% to €2.3 billion ($2.7b), while profit from recurring operations soared 21% to €681 million ($798m).
Growth was solid across the luxury giant’s portfolio in the first half, with its Champagne range—including Veuve Clicquot, Moët & Chandon, Dom Pérignon and others—faring well across the board, driven by strength in Europe and the U.S. Meanwhile, Hennessy Cognac continued its strong run in the U.S., and is also showing improved progress in China. While demand remains strong, Moët Hennessy noted that its flagship Cognac could see a second-half slowdown in volume growth due to supply constraints. —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.