Champagne Drives Moët Hennessy’s Full-Year Sales To $7.7 BillionJanuary 27, 2023
Moët Hennessy has posted sales up 11% organically to approximately $7.7 billion for its full fiscal year ended in December, as profit from recurring operations rose 16% to $2.3 billion. The luxury giant’s Champagne volumes climbed 6% for the year, with the company noting “sustained demand leading to growing pressure on supplies.” Overall, Moët Hennessy’s Champagnes & Wines revenue jumped 24% for the year. Chateau d’Esclans rosé also contributed to gains, and was joined in the wine stable by California’s Joseph Phelps Vineyard, which the group acquired last summer.
Hennessy Cognac, meanwhile, was affected by logistical disruptions in the U.S. at the start of the year, but ultimately benefited from its focus on value over volume over the course of 2022, driving a 14% revenue increase in Moët Hennessy’s Cognac & Spirits segment. Glenmorangie and Ardbeg single malt Scotch whiskies as well as Belvedere vodka were also on the rise.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Ardbeg, Belvedere, Moet Hennessy
GET YOUR FIRST LOOK AT 2021 DATA AND 2022 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2022 IMPACT DATABANK REPORTS. CLICK HERE.