Spirits sales up 3% in LVMH H1 as Cognac rebounds
French firm LVMH saw organic spirits sales rise by 3% for the 2026 first half (H1) as Hennessy Cognac continued its recovery in China.
For the first six months of 2026, wine and spirits sales totalled €2.59 billion (US$3bn) for LVMH – an organic rise of 5%. It followed a 5% rise in its first quarter (Q1) for wine and spirits collectively, with the latter also up by 5%.
Spirits sales in H1 reached €1.17bn (US$1.33bn), with Hennessy Cognac highlighted for continuing its momentum in China post-Chinese New Year.
In LVMH’s H1 2025 results, spirits plunged by 15%, which the firm said was in part to ‘weak’ demand for the Cognac brand in China.
China’s anti-dumping investigation into EU brandy imports finished in June 2025, with small relief granted to some large Cognac producers, including Hennessy.
LVMH’s Cognac sales volumes for the first half of 2026 reached 38.4m bottles, up from 37.1m year on year.
Hennessy’s Chinese New Year limited editions were said to have enjoyed ‘major success’ in China and other Asian markets. In addition, the Cognac brand has been a partner of Bad Bunny’s Debí Tirar Más Fotos world tour and launched a ready-to-serve (RTS) Very Special Cocktails range in the US.
Hennessy is the world’s leading Cognac brand according to The Brand Champions 2026 report. It sold 5.8 million nine-litre case sales in 2025 (down by 7.6% on 2024).
As part of its spirits recovery, LVMH also highlighted ‘good performances’ and ‘on-going innovation’ for Scotch whisky Glenmorangie and Belvedere Vodka.
Other spirits volumes for LVMH hit 10.4m bottles in H1, up from 9.6m year on year.
Other brands in the company’s spirits portfolio include Scotch whisky Ardbeg, Volcan de mi Tierra Tequila, Eminente rum and American whiskey Sir Davis.
Champagne and wine was up by 7% organically in the first half of 2026, led by Champagne’s recovery in Europe and Japan.
Profit from recurring operations for wine and spirits also increased by 11% to €582 million (US$661m) during the first half of the year.
Future outlook
For the months ahead, LVMH said its wine and spirits houses will ‘remain focused on keeping their costs under control and continuing to invest in enhancing the desirability of their brands to drive consumer demand’.
The company’s total revenue for H1 was €38.6bn (US$43.8bn), up by 2% organically.
Regionally, LVMH said the US had a good first half of the year, while Asia saw ‘strong growth’ (excluding Japan). Japan was in growth for H1, and Europe also showed ‘good resilience’.
LVMH also noted that it had ‘maintained its innovative momentum and remained very solid in a geopolitical and economic environment that remained disrupted’, which has been heightened by the ongoing conflict in the Middle East.
Bernard Arnault, chairman and CEO of LVMH, said the business “demonstrated its solidity and effective strategy”.
He continued: “Our maisons – which remained focused on ensuring the utmost quality in our products, and several of which are pursuing their creative renewal – continued to inspire dreams and enhance their desirability.”
“The recovery in Champagne and Cognac also contributed to this excellent momentum,” he added.
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