Moët Hennessy USA Sales Up 7% In First HalfJuly 27, 2012
The U.S. and Asia drove strong growth for Moët Hennessy over the first six months of the year, with organic revenue rising 15% across the company’s global operations to €1.76 billion ($2.16b). Moët Hennessy USA saw sales increase 7% organically during the period, with Hennessy Cognac enjoying single-digit volume growth despite price increases in recent months. The group’s U.S. performance was also buttressed by a strong rebound in its Champagne business in the second quarter (with volume rising double-digits), again despite recent price increases.
Globally, Moët Hennessy’s Champagne volumes were up 6% in the first half, buoyed by its prestige and rosé variants, while its Cognac volumes rose 8%, boosted by continuing momentum in Asia. Single malt Scotch whisky brand Glenmorangie also contributed strong growth during the period. Looking ahead, Moët Hennessy said it would focus on “controlled volume growth with a priority on markets with the most value added.”Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.