- Three-month sales soar 36% to EUR1.51bn (US$1.8bn)
- Compared to Q1 in 2019, sales in three months to end of January climb 17%
- Cognac supply issues reported in US
Moet Hennessy has set the pace for its peers with a sizeable leap in sales from the first three months of 2021.
The wine & spirits division of luxury-goods group LVMH said late yesterday that its Q1 top-line was up 36% on the corresponding period last year. By way of a fairer guide to performance, the unit, which is 34%-owned by Diageo, said three-month sales versus 2019 were up 17%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLeading the charge was flagship Cognac brand Hennessy, up 28% in volume terms, thanks predominantly to a “strong rebound” in China. The company warned, however, that the healthy showing for Hennessy in the US off-premise in the quarter risks putting pressure on its supply of Cognac.
Also of note was Moet Hennessy’s Champagne business, which delivered a 22% volumes increase. While on-premise closures hindered sales, “improved trends” were reported for Champagne in the US and Europe thanks to customer restocking efforts.
Elsewhere, single malt Scotch whisky Glenmorangie earned a namecheck thanks to a “robust” showing in Europe.
This week’s first-quarter numbers follow a year in which sales came in 14% down on 2019.
To view LVMH’s official results statement, click here.
Moet Hennessy Performance Trends 2016-2020 – results data
