LVMH wine and spirits sales soar in Q1

14th April, 2021 by Melita Kiely

The wine and spirits arm of LVMH saw sales skyrocket during the first quarter of 2021, aided by a ‘strong rebound’ in China.

Hennessy Brand Champs

Hennessy Cognac saw volumes grow 28% during Q1 2021

The wine and spirits unit of luxury goods company LVMH saw organic revenue rise 36% in the first quarter of 2021 to reach €1,510 million (US$1,805m).

Compared to the same period in 2019, this represented a 17% organic increase.

LVMH said Hennessy Cognac saw volumes grow by 28% during the three-month period, compared with 2020.

By region, as well as a ‘strong rebound’ in China, the group experienced ‘robust’ demand in the US.

Looking ahead to the rest of 2021, LVMH said the situation remains ‘turbulent’ due to the ongoing Covid-19 pandemic.

However, the brand said it was well equipped to build upon the ‘hoped-for recovery in 2021’ and to regain ‘growth momentum’ for all of its businesses.

The wine and spirits arm of LVMH experienced a 14% decline in organic sales in 2020 despite ‘remarkable resilience’ from Cognac.

Last September, LVMH-owned Hennessy partnered with architect Frank Gehry to create 150 limited edition XO decanters to celebrate the expression’s 150th anniversary.

Hennessy was also crowned Cognac Brand Champion 2020.

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