CHAMPAGNE AND COGAC HELP LVMH DELIVER GROWTH
LVMH today reported a 14% hike in organic revenue for its wine and spirits group during the first nine months of 2007. The French company also said its wine and spirits division delivered a sales increase of 9%.
Champagne and Hennessy volumes rose by 8% and 11% over the period, respectively, helped by price increases and improvements in product mix. The success of rosé champagnes and Hennessy’s premium qualities also contribute to the growth, while New World Wines saw double-digit revenue growth in all their markets.
Overall, LVMH says it had good momentum in the US. Veuve Clicquot performed particularly well, along with Ruinart, Krug, XO and VSOP. Following the acquisition of the brand in the US, Belvedere vodka resumed its activity in the third quarter.
Champagne and Hennessy volumes rose by 8% and 11% over the period, respectively, helped by price increases and improvements in product mix. The success of rosé champagnes and Hennessy’s premium qualities also contribute to the growth, while New World Wines saw double-digit revenue growth in all their markets.
Overall, LVMH says it had good momentum in the US. Veuve Clicquot performed particularly well, along with Ruinart, Krug, XO and VSOP. Following the acquisition of the brand in the US, Belvedere vodka resumed its activity in the third quarter.
posted at 1:16 PM
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