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Hennessy leads LVMH Wines & Spirits growth
LVMH Wines & Spirits achieved 7% organic revenue growth for the first nine months of 2016, bolstered by a strong performance from Hennessy Cognac.
LVMH Wines & Spirits achieved 7% organic revenue growth for the first nine months of 2016
Combined Moët Hennessy Louis Vuitton Group revenue grew +4% to €26.3 billion over the period.
Hennessy Cognac volumes increased by 9%, with the third quarter benefitting from “improved momentum” during the period, following the destocking of distributors in 2015, and “continued strong growth” in the US.
Glenmorangie Scotch whisky and Belvedere vodka “continued their development”, according to the firm.
The Wines & Spirits business group outperformed Fashion & Leather Goods (2% organic growth) and Watches & Jewellery (4% organic growth).
Looking forward, the company said: “In an uncertain geopolitical and currency environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets.
“LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2016.”