- Three-month sales to end of June decline 4% to EUR1.28bn (US$1.51bn)
- Top line picks up from Q1’s -9%, finishing down by 7% for first half – EUR2.59bn
Moët Hennessy has reported a promising top-line performance in its most recent quarter, with the company’s sales deceleration rate starting to slow.
The company, part of the LVMH luxury goods conglomerate, followed the first quarter’s 9% fall in sales with a 4% dip during the three months to the end of June today (24 July). The showing represents the sixth consecutive negative quarter, but by the smallest amount of the six.
For the first half of calendar 2025, sales sit at 7% down on the corresponding period a year ago.
While MH, which is 34%-owned by Diageo, observed “ongoing weak demand for cognac” throughout the first six months of this year, its champagne assets, led by the Moët & Chandon brand, delivered growth of an unspecified amount during Q2.
Subsequently, combined ‘champagne & wines’ sales were positive, at +2%. The reduced consumer appetite for cognac, meanwhile, mixed with “uncertainties related to threats of trade tensions” to pull combined ‘cognac & spirits’ sales down by 15%.
“The first half of 2025 saw trends similar to those observed in 2024, largely due to the impact on customers of trade tensions weighing on the key markets of the US and China,” LVMH said in the results announcement.
Today’s figures were the second quarterly set under current CEO Jean-Jacques Guiony, who along with deputy CEO Alexandre Arnault – one of LVMH head Bernard Arnault’s sons – assumed his position in February.
Last week, Guiony sent a letter to all of MH’s employees defending the unit from accusations levelled against it by a former member of staff regarding alleged gender discrimination.
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