Sales of cognac may be set to soar in 2017 . Cognac sales were up 12% to $1.9 billion in 2015, according to the Distilled Spirits Council of the United States and may be headed higher during a Trump administration.
President-Elect Donald Trump has promised personal and corporate tax cuts. If enacted, all Americans will have more cash in their wallets and the wealthiest will have the most. That’s more money to buy luxury items, like cognac.
Wealth and Cognac
The prospect that wealthy Americans may soon have more discretionary cash due to Trump’s tax cuts is not lost on Remy Martin’s Chief Executive Officer Valerie Chapoulaud-Floquet. Remy Martin caters to the luxury market with its upscale cognacs. Mr Chapoulaud Floquet noted that affluent households would benefit from Trump’s proposed tax cuts. He added “In the luxury world, for the time being, what’s being said is that what could happen will be favorable.”
A flamboyant President, like Trump may encourage conspicuous consumption. Trump’s staff, family and associates appear to share a passion for expensive epicurean delights, like cognac. A Trump administration is certain to influence the cultural tone of the country that may elevate Cognac to become the drink of the Trump years.
Maybe a Cigar and a Cognac
In the weeks following Mr. Trump’s election a series of protests erupted. Trump campaign manager Kellyanne Conway discussed these post election outbursts on the Sean Hannity show. Mr. Hannity referred to the protesters as “pampered spoiled brats” and asked Ms. Conway “Did we ever protest together?” to which Ms. Conway responded that her response to an election defeat would be “Maybe a cigar and a cognac here and there, which is more our style,” and “certainly not to degrade the office of the president or cry crocodile tears into that cognac about who had won the election.”
Ivanka and Brassiere Cognac
The President- Elect’s daughter Ivanka Trump, recently revealed in a page six magazine that she hosted a lunch at her “new favorite restaurant in NYC, Brassiere Cognac about which she gushed “I absolutely adore”. Brassiere Cognac is a restaurant that often uses cognac in its recipes and offers cognac pairing with its entrees.
Kayne West & Hennessy
The President elect met recently with famous hip-hop/rap artist Kayne West. Mr. West, who is married to Kim Kardashian, has a known predilection for cognac, specifically Hennessy Paradis. Mr. West enjoys his cognac in an unorthodox fashion – with Coca-Cola:
“Roll up the doja, Henny and Coca-Cola then I’m co-coming over cause it’s never over” declares Kayne West in the track “Addiction”
A Return of Conspicuous Consumption 1980’s Style?
Sales of luxury items already appear to be on the upswing. Sales of gold bullion were up 20% in 2016 at the U.S. Mint. A solid gold Donald Trump iphone is reported to be selling briskly. Cognac maker Hennesy is promoting a Glitter & Gold cocktail, a serving of Hennessy VSOP Privilège with a garnish of gold leaf.
A Trump administration appears poised to put glitter and gold back in fashion.