Hennessy ‘rebounds’ as LVMH Wines & Spirits grows +7%
A strong performance from Hennessy helped LVMH Wines & Spirits achieve 7% organic revenue growth for the first nine months of 2015.
LVMH Cognac brand Hennessy has seen sales to China “rebound”Combined Moët Hennessy Louis Vuitton Group revenue grew +18% to €25.3 billion over the period.
Hennessy Cognac volumes increased by 12%, with the third quarter benefitting from “a strong rebound in shipments to China” and “continued excellent momentum” in the United States.
Scotch whisky Glenmorangie and vodka Belvedere “continue to grow rapidly”, the statement read.
The Wines & Spirits business group outperformed Fashion & Leather Goods and Selective Retailing (5% organic growth each) with the division reporting “notable acceleration in the third quarter”.
Across the whole company, “the trend remains comparable to that recorded in the first half of the year”. The group noted strong growth in Europe and the US, with “an acceleration” in Japan.
Looking forward, the company said: “In an uncertain economic and financial 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 2015.”
LVMH Wines & Spirits sales appear to have rebounded from a Q1 sales slump, largely blamed on continued volatility in China.
