Moët Hennessy Buys Stake in Jay-Z’s Armand de Brignac

Paris-based Moët Hennessy has acquired a 50% stake in Armand de Brignac, the Champagne brand owned by entertainer Shawn Jay-Z Carter. The partnership includes in a global distribution agreement. Often referred to as “Ace of Spades,” Armand de Brignac launched in 2006 and is known for its striking gold bottles. The brand has a strong presence in North America, Asia, and Europe, selling more than 500 000 bottles in 2019. Carter had initially owned a 50% share in Armand…

Continue Reading →

LVMH shows signs of recovery in Q3

The wine and spirits business of LVMH saw a marked improvement in trends during its third quarter after significant losses in the second quarter of 2020. Organic revenue for wine and spirits fell by 3% in the three months to 30 September to €3.349 billion (US$3.9bn), markedly better than the 33% sales drop in the second quarter, and the 14% decline in the first quarter. Organic revenue for the first nine months of 2020 was…

Continue Reading →

LVMH sales plummet in H1 due to Covid-19

The wine and spirits arm of LVMH saw profits plunge during the first half of 2020 due to the economic challenges brought on by the Covid-19 pandemic. Wine and spirits sales fell by 23% on an organic basis during the first half of 2020. Sales fell to €1,985 million (US$2,328m), down from €2,486m (US$2,916m) during the same period last year. Profit from recurring operations fell 29% during the six-month period to €551m (US$646m), down from…

Continue Reading →

China boosts LVMH wine and spirits growth

The wine and spirits arm of LVMH has reported single-digit organic revenue growth for the first nine months of 2019, boosted by “strong” gains in China. The wine and spirits business recorded organic revenue growth of 7% over the period, also helped by “steady demand” in the US. Henessy Cognac volumes rose 10% during the nine months, driven by the VS ranges. This was offset by a slight decline in Champagne volumes. Looking at the…

Continue Reading →

Revenue growth for LVMH wine and spirits arm in H1

The wine and spirits arm of LVMH recorded organic revenue growth of 6% in the first half of 2019, bolstered by the “solid growth” of Hennessy Cognac. Total LVMH revenue hit €25.1 billion (US$27.9bn) over the period, an increase of 15% with “strong growth” in Asia, the US and Europe, particularly in France. Profit for the period hit €5.2bn (US$5.7bn), an increase of 14%. Belvedere vodka owner LVMH saw its drinks revenue reach €2.48bn (US$2.7bn).…

Continue Reading →