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April 14, 2021updated 16 Jun 2021 2:18pm

Moet Hennessy kicks off 2021 results season with 36% sales jump in Q1 – data

Moet Hennessy has set the pace for its peers with a sizeable leap in sales from the first three months of 2021.

  • Three-month sales soar 36% to EUR1.51bn (US$1.8bn)
  • Compared to Q1 in 2019, sales in three months to end of January climb 17%
  • Cognac supply issues reported in US

Moet Hennessy has set the pace for its peers with a sizeable leap in sales from the first three months of 2021.

The wine & spirits division of luxury-goods group LVMH said late yesterday that its Q1 top-line was up 36% on the corresponding period last year. By way of a fairer guide to performance, the unit, which is 34%-owned by Diageo, said three-month sales versus 2019 were up 17%.

Leading the charge was flagship Cognac brand Hennessy, up 28% in volume terms, thanks predominantly to a “strong rebound” in China. The company warned, however, that the healthy showing for Hennessy in the US off-premise in the quarter risks putting pressure on its supply of Cognac.

Also of note was Moet Hennessy’s Champagne business, which delivered a 22% volumes increase. While on-premise closures hindered sales, “improved trends” were reported for Champagne in the US and Europe thanks to customer restocking efforts.

Elsewhere, single malt Scotch whisky Glenmorangie earned a namecheck thanks to a “robust” showing in Europe.

This week’s first-quarter numbers follow a year in which sales came in 14% down on 2019.

To view LVMH’s official results statement, click here.

Moet Hennessy Performance Trends 2016-2020 – results data

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