Cognac Exports Jump To $3.65 Billion In Year Through JulyAugust 14, 2018
Cognac exports hit a new record in the 12 months through July, with shipments up 8.2% to 206 million bottles and 5.4% to €3.2 billion ($3.65b). The U.S. market—Cognac’s largest—accounted for 86.5 million bottles during the period, driving a 9.4% volume gain for the NAFTA region overall. While top Cognac brand Hennessy has encountered some supply constraints over the past year, the brand still grew by 7.4% to 3.96 million cases in the U.S. in 2017, according to Impact Databank, and second-ranked Rémy Martin also continued to rise, up 10% to 900,000 cases.
Elsewhere, Cognac is climbing again in China after an interruption of growth over the past few years. China’s strong performance helped drive Cognac to a 13.5% increase to 60.9 million bottles in the East Asian region in the year through July. Cognac’s VS segment accounted for half of total shipments during the 12-month period, while VSOP comprised 39%, and older qualities took an 11% share.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.