Interview, Part 2: Moët Hennessy North America President Chris Gabaldon

In the second part of our interview, Moët Hennessy North America president Chris Gabaldon discusses growth prospects across the luxury marketer’s spirits portfolio, the state of play in Champagne, and where the company is focusing its efforts in the fine wine category, as well as his take on potential wine and spirits tariffs in the U.S.

SND: Beyond Hennessy, where else within the spirits portfolio do you see growth opportunity?

Gabaldon: We think whiskey still has a lot of room to run. We have SirDavis, which just launched. We’ve got single malt Scotch in Glenmorangie and Ardbeg. From Washington state, Woodinville is really starting to come into its own. You may have seen recently that we just released an 8-year Bourbon at barrel strength. There’s a lot of innovation coming out of Woodinville.

Belvedere is now an organic vodka, and we’ve seen a strong consumer response to that. We also have Belvedere 10, a single-estate rye vodka distilled four times, and packaged in a ceramic bottle that lights up for the nighttime occasion. In Tequila, we launched a Volcan de mi Tierra Blanco Tahona, with the agave pressed with a two-ton stone. That’s an additive-free Tequila. Volcan also participates in Formula One racing, for which we have a custom bottle, selling at about $169, very much at the prestige level.

SND: Where do you see the Champagne market headed in the U.S.? What’s needed for Veuve Clicquot and Moët & Chandon to continue appealing to new consumers and secure their dominant positions in the market for the future?

Gabaldon: Champagne is a rare category. It can only be made in an area that’s one-fifth the size of New York City. You’ll continue to see demand because it’s a handcrafted expression of a very specific and elegant wine. And consumers are looking for new expressions. In September we launched a a special-edition Vintage 2015 of Dom Pérignon honoring artist Jean-Michel Basquiat. It’s been very well received.

We also just launched Dom Pérignon Vintage 2006 Plénitude 2, the highest expression of the vintage. When we ask our top clients what they’re looking for, they want a unique expression of the world’s most iconic Champagne. Well, here it is. And we continue to embed these brands in culture, through Moët & Chandon’s partnership with the U.S. Open as one example.

SND: Moët Hennessy has continued to expand its wine portfolio in recent years with acquisitions like Joseph Phelps and Chateau d’Esclans. What are your priorities in luxury wine beyond Champagne?

Gabaldon: In Napa Valley, Joseph Phelps is a legendary estate. The acquisition merged one of the most iconic names in Napa Valley with some of the best vineyards through Moët Hennessy. We believe there’s tremendous upside for Joseph Phelps, with the way we cultivate maisons that have a true, authentic, rich story, a really high quality product, and then build that for longevity. The product itself is absolutely exceptional.

From New Zealand, Cloudy Bay is among the finest Sauvignon Blancs in the world. Consumers trust the quality of this brand worldwide. And there are newer expressions, such as Te Koko, a higher-end Sauvignon Blanc, and Te Wahi Central Otago Pinot Noir.

We’ve also had a lot of success with rosé the past few years, with Chateau d’Esclans and more recently Chateau Minuty. The core range is anywhere from $18-$23, but the consumer is telling us they’re starting to appreciate rosé as a versatile wine at different price points and for different occasions. Up the ladder we have wines like Minuty 281 and Chateau d’Esclans Garrus, which are sophisticated expressions that are expanding the landscape for rosé.

SND: What’s your take on the potential tariffs coming out of the new U.S. administration?

Gabaldon: We want to wait and understand what the policy is going to look like. We do continue to advocate for a zero-tariff environment, particularly on wines and spirits. They’re often partly defined by where they’re made. Champagne is only made in Champagne, Cognac in Cognac, and Bourbon is only made in the United States. We do hope that as the policy unfolds wines and spirits won’t become collateral damage to broader issues at play. There are a lot of jobs at stake when you think about not only wine and spirits producers but also importers, distributors, retailers, restaurants, transportation and logistics, and so on.

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