LVMH starts 2026 with spirits uplift
The spirits arm of LVMH rose by 5% during the first quarter (Q1) of 2026 with Chinese New Year boosting sales.
LVMH’s spirits revenue totalled €610 million (US$719.3m) for Q1, which was down from €629m (US$741.6m) year on year.
The division’s 5% organic growth for the first three months of 2026, however, was a contrast to last year’s performance from the same period where LVMH’s spirits arm plunged by 17% due to continued soft demand for Cognac in the US and China.
The wine and spirits division was down by 2% a reported basis due to currency fluctuations, which reduced revenue by 7%.
For its 2025 full year, LVMH registered a 5% drop for wine and spirits.
The Paris-headquartered firm highlighted ‘favourable Chinese New Year phasing’ for Hennessy Cognac in the improved showing for the first quarter of the year.
This helped to compensate for ‘soft’ demand in the US, the company noted.
Chinese New Year started on 17 February and the holiday’s later positioning on the calendar was said to be favourable for Hennessy sales in Q1.
The company held pop-ups and activations in travel retail to celebrate the holiday and also launched a Hennessy Year of the Fire Horse collection.
LVMH also highlighted its Champagne’s business’ good start to the year. The company’s Champagne and wine organic revenue reached €663m (US$781.6m) – up by 5%.
The group’s total sales for Q1 were up by 1% on an organic basis to €19.1bn (US$22.5bn). The performance was led by 7% growth in Asia (excluding Japan), LVMH’s biggest market with 32% of total revenue, along with a 3% gain in the US – its second-largest region with 23% of sales.
LVMH’s spirits portfolio includes Hennessy Cognac, Belvedere Vodka, American whiskey Sir Davis, Scotch brands Glenmorangie and Ardbeg, Volcan De Mi Tierra Tequila and Eminente rum.
Glenmorangie released its oldest core expression last month, a 30-year-old whisky titled The Thirty.
Eminente, meanwhile, launched Gran Reserva Edition N°2 last week.
Addressing the results in a statement, LVMH said: “Amid a geopolitical and economic environment particularly disrupted by the conflict in the Middle East, LVMH remains vigilant yet confident at the start of the year.
“The group remains focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its designs, their desirability and their selective distribution.
“LVMH will rely on the talent and motivation of its teams, the diversity of its businesses and the good geographic balance of its revenue to further strengthen its global leadership position in high-quality products in 2026.”
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