Moët Hennessy Posts Record Organic Growth In First QuarterApril 18, 2012
Moët Hennessy saw global sales jump 16% on an organic basis—a record performance—in the first quarter of 2012, reaching €926 million ($1.2b). The company’s core Champagne and Cognac businesses drove growth during the period. The Champagne stable (up 5% by volume) benefited from strong sales at the prestige level, while Hennessy Cognac enjoyed growth at all product tiers, despite “significant price increases,” and rose 9% by volume.
Those solid global numbers follow a 2011 campaign that saw Moët Hennessy post growth among most of its core brands in the U.S. According to Impact Databank, Hennessy Cognac’s U.S. depletions were up 1% to 2.15 million cases last year, while Grand Marnier rose 2% to 483,000 cases and Belvedere vodka jumped 10% to 435,000 cases. Moët & Chandon, which continues to lead the U.S. Champagne segment, advanced by 1% to 410,000 cases (excluding Dom Perignon); fellow bubbly Veuve Clicquot was flat by volume at 365,000 cases.
This year, Moët & Chandon is abandoning its well-known White Star non-vintage offering in the U.S., replacing it with a newer Moët Impérial variant, which has been gradually transitioning into the brand’s primary global non-vintage offering since 2007. Bucking the increasing popularity of sweet wines in the U.S., Moët Impérial is a drier style than White Star, made with 30%–40% Pinot Noir, 30%–40% Pinot Meunier and 20%–30% Chardonnay.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.