Moët Hennessy Sales Rise 7% Despite Short Cognac SupplyJanuary 26, 2018
Moët Hennessy posted a 7% sales increase to €5.1 billion ($6.3b) for 2017, as profit from recurring operations grew 4% to €1.6 billion ($2b). The luxury group’s Champagne brands—including Moët & Chandon, Veuve Clicquot, Dom Perignon, Ruinart and others—saw volumes rise a collective 4% for the year. In Cognac, the Hennessy brand reached 7.5 million cases globally last year on an 8% increase, despite tightening supply in the second half, a situation the group hopes to alleviate with the recent opening of its new Pont Neuf bottling facility. According to Impact Databank, Hennessy was up 10.5% to 4.1 million cases in the U.S. in 2017. That performance helped to drive overall U.S. Cognac shipments to a 12% advance to 6.4 million cases, according to the BNIC. In addition to its core Champagne and Cognac brands, Moët Hennessy expanded its portfolio with the acquisitions of Napa’s Colgin Cellars and Washington’s Woodinville Whiskey last year.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.