Memory: LVMH Moët Hennessy Louis Vuitton Revenues Grow Boosted By Hennessy Cognac Sales Growth

Last week, LVMH Moët Hennessy Louis Vuitton, announced their annual profit and sales for 2016. The world’s leading luxury products group reported record revenues of €37.6 billion, an increase of 5% over the previous year.

The financial results of the luxury giant were boosted by Hennesy cognac sales that grew faster than LVMH’s other spirits businesses.

LVMH noted in their financial report press release:

“Hennessy cognac enjoyed an excellent year with 10% volume growth. The American market is growing well and China saw better momentum after a tough 2015 due to destocking by distributors.”

Earlier this month the Bureau National Interprofessionnel du Cognac (BNIC), announced that Cognac sales rose to record levels in 2016. North American cognac sales grew to 77.3 million bottles in 2016, a 14.2% volume increases.

Hennessy is the largest seller of cognac in North America.