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News Briefs for January 27, 2017

January 27, 2017

•Brown Forman’s Woodford Reserve Bourbon is releasing a second edition of its limited Double Double Oaked offshoot. Originally launched in 2015 as part of the brand’s Distillery Series, Double Double Oaked starts out as Woodford Reserve Double Oaked, which is twice barreled, and then is aged for an additional year in its second oak barrel. The 90.4-proof whiskey is retail priced at $50 a 375-ml. and will be sold in limited quantities at the Woodford Reserve Distillery and select Kentucky retail outlets starting this week. Woodford Reserve was up 17.6% to 440,000 cases in the U.S. last year, according to Impact Databank.

•Moët Hennessy enjoyed a “good performance in all regions” in 2016, according to parent company LVMH, as annual revenues climbed 7% on an organic basis to €4.8 billion ($5.1b), and profit from recurring operations jumped 10% to €1.5 billion ($1.6b). “The American market is growing well and China saw better momentum after a tough 2015 due to destocking by distributors,” the company noted in a statement. Moët Hennessy’s Champagne volumes grew 3% for the year, with its prestige cuvées performing particularly well. Meanwhile, Hennessy Cognac’s volume surged 10%, and other key spirits like Glenmorangie and Belvedere were also on the rise. As SND recently reported, Hennessy’s 20% growth to more than 3.6 million cases in the U.S. helped drive the Cognac market to a record-high last year.

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