US CONTINUES TO SHOW PROMISE FOR MOET HENNESSY
Moet Hennessy’s wines & spirits segment achieved an overall organic revenue growth of 13% in the first half, while revenue grew 31% in the US. The increase was due to volume growth with product mix improvement and to a price increase in most regions.
Champagne volumes increased by 9%, driven notably by sales of rosé, while Hennessy cognac volume grew 8%.
US wine and spirits sales rose 4%, excluding Belvedere, which the company lost for about two months this summer over a trademark dispute. The brief suspension caused overall vodka volume to drop -23%. Christophe Navarre says the company re-purchased Belvedere for 62 million euros because “this category is extremely dynamic in the US.”
Christophe went on to say that 10 Cane Rum is emerging in the US alongside a rise in popularity of super-premium rum. [Ed. Note: According to IRI data, ultra-premium rum sales rose 45% in June.] Meanwhile, estate and sparkling wines “are doing really well.”
In the outlook, Christophe said that Moet Hennessy will continue to develop its brands in the US.
Champagne volumes increased by 9%, driven notably by sales of rosé, while Hennessy cognac volume grew 8%.
US wine and spirits sales rose 4%, excluding Belvedere, which the company lost for about two months this summer over a trademark dispute. The brief suspension caused overall vodka volume to drop -23%. Christophe Navarre says the company re-purchased Belvedere for 62 million euros because “this category is extremely dynamic in the US.”
Christophe went on to say that 10 Cane Rum is emerging in the US alongside a rise in popularity of super-premium rum. [Ed. Note: According to IRI data, ultra-premium rum sales rose 45% in June.] Meanwhile, estate and sparkling wines “are doing really well.”
In the outlook, Christophe said that Moet Hennessy will continue to develop its brands in the US.
posted at 12:45 PM
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