Hennessy Cognac Sales Growth in U.S. Strains Supplies
Earlier this year LVMH Moët Hennessy Louis Vuitton (LVMH), a luxury brand conglomerate and owner of Hennessy cognacs, warned that due to significant increases in Hennessy sales, the availability of cognac stocks may be impacted for the rest of the year. The warning was part of LVMH’s first quarter earnings release that reported record revenues of €9.9 billion in the first quarter of 2017, up 16% from the first quarter of 2016.
So what happened at the end of 2016, beginning of 2017 that made the U.S of A want to drink just a little bit more???