Moët Hennessy Battles Hennessy Shortage As Champagne Pops

Earlier this week, Moët Hennessy revealed results for its fiscal first quarter ended in March. Total revenues grew 2% organically (8% on a reported basis) to €1.64 billion ($1.77b), with strong growth in Champagne partially offset by decreasing volumes for supply-constrained Hennessy Cognac.

Moët Hennessy’s Champagne volume increased 14% in the first quarter, building on a robust 2021 performance in the U.S. that saw both Veuve Clicquot and Moët & Chandon jump by double-digits to combine for volume of more than 1.2 million cases, according to Impact Databank.

Hennessy’s global volume fell 18% during the quarter, however, with the company seeing “volume impacted by supply and logistic constraints, in the U.S. in particular, partly compensated by continued positive price impact.” On the positive side, other key spirits labels in the Moët Hennessy portfolio—including Glenmorangie, Ardbeg, and Belvedere—enjoyed rapid growth in the first quarter. Glenmorangie and Ardbeg combined for 200,000 cases in the U.S. last year, according to Impact Databank, with both brands up double-digits.

Tagged : Moet Hennessy

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