The wines and spirits division of Moët Hennessy Louis Vuitton (LVMH) has reported 7 per cent organic revenue growth in the first quarter of 2013, underpinned by growth in Asia.
The luxury company, which owns Moët Chandon, Dom Pérignon,Veuve Clicquot, Hennessy and Glenmorangie among others, saw revenues for the division rise to €979 million from €926 million for the same period last year.
Although champagne volumes slipped 1 per cent, demand was 'robust' in Asia, offsetting weaker demand in Europe. Hennessy volumes rose 5 per cent, mainting its 'excellent' momentum, driven by strong sales in the US and rapid growth in China.
LVMH said its other spirits brands, namely Glenmorangie and Belvedere, delivered a 'good start' to the year. (19 April)
Lead photo: Thierry Stefanopoulos/Bloomberg
