Cognac Weighs Down Moët Hennessy Sales In First Half
July 25, 2025Tough conditions in the Cognac category continue to weigh on sales for Moët Hennessy, as the luxury drinks giant posted first-half revenues down 7% organically to €2.6 billion ($3b) and profit from recurring operations down 33% to €524 million ($617m).
Moët Hennessy saw its Champagnes & Wines division post 2% growth to €1.4 billion ($1.6b), boosted by improving trends in the U.S. and Europe, as well as a solid showing from its Provence rosé portfolio. In the U.S., leading Champagne labels Veuve Clicquot and Moët & Chandon grew 5.6% and 5% by volume respectively in Circana-tracked channels in the year-to-date through June 15. Those two brands combine for approximately $700 million in U.S. retail value annually, according to Impact Databank.
Conditions were far tougher for the Moët Hennessy’s Cognac & Spirits portfolio, whose sales fell 15% to €1.2 billion ($1.4b) in the first half. Hennessy Cognac’s volume in control states was down 9% in the year-to-date through May, as the Cognac category continues to struggle to find traction.
As it looks to reignite momentum on the spirits side, Moët Hennessy has rolled out a new campaign for single malt Scotch label Glenmorangie featuring Harrison Ford and lined up innovations on Belvedere vodka and Eminente rum. Glenmorangie 16 year old The Nectar ranked among Whisky Advocate’s Top 20 Whiskies of 2024.-Daniel Marsteller
| Moët-Hennessy USA—Leading Brands in the U.S. |
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| Category/Brand | Origin/Type | Total 2024 U.S. Volume1 |
Year-to-Date Volume Growth |
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|---|---|---|---|---|---|---|
| Spirits2 | ||||||
| Hennessy | Cognac | 3,211 | -9.3% | |||
| Belvedere | Imported Vodka | 345 | 1.3% | |||
| Glenmorangie | Single Malt Scotch | 128 | -3.9% | |||
| Ardbeg | Single Malt Scotch | 41 | -3.9% | |||
| Total Leading Spirits: | 3,725 | -8.6% | ||||
| Wine3 | ||||||
| Veuve Clicquot | Champagne | 577 | 5.6% | |||
| Chandon | California Sparkling | 488 | 2.2% | |||
| Moët & Chandon | Champagne | 360 | 5.0% | |||
| Total Leading Wine: | 1,425 | 3.2% | ||||
| 1 Thousands of 9-liter cases. 2 Year-to-date May in control states. 3 Year-to-date ending 6/15/2025 in IRI/Circana channels. Source: NABCA, IRI/Circana and IMPACT DATABANK© 2025 |
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