Moët Hennessy’s Sales Soar In First Quarter

Moët Hennessy posted net sales up 36% on an organic basis to €1.5 billion ($1.8b) in its first quarter ended in March. While the company’s results partially benefited from lapping the early part of the lockdown period at the end of last year’s first quarter, its sales are still up an impressive 17% compared to the same quarter in 2019, a fairer comparison.

Moët Hennessy’s Champagne volume rose 22% year-on-year in the first quarter, with Europe and the U.S. making gains, while Hennessy Cognac jumped by 28%. Hennessy grew an estimated 19% to 4.7 million cases in the U.S. last year, according to Impact Databank. While noting that the operating environment remains volatile due to the pandemic, the company said that demand continues to be robust in the U.S. overall, and China has seen a strong rebound.—Daniel Marsteller

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