TGIFOOD

BLOOMBERG

Hennessy Cognac stockpile a ‘Just-In-Case’ Brexit scenario

Hennessy Cognac stockpile a ‘Just-In-Case’ Brexit scenario
Bottles of Moet champagne are seen at an All Bar One public house, operated by Mitchells & Butlers Plc. in London, U.K., on Tuesday, May 17, 2011. Food and alcohol sales rose an annual 2.1 percent in April, boosted by alcoholic drinks including champagne. Photographer: Chris Ratcliffe/Bloomberg

Luxury giant LVMH Moet Hennessy Louis Vuitton, the French maker of high-end beverage brands including Moet & Chandon champagne and Hennessy cognac, said on Tuesday that it has added four months of wine and spirits inventory to the UK to prepare for the country’s expected exit from the European bloc.

It’s not just aircraft parts and printing ink accumulating in UK warehouses ahead of the country’s possible split from the European Union in two months’ time. The growing stockpiles also include booze.

Luxury giant LVMH Moet Hennessy Louis Vuitton, the French maker of high-end beverage brands including Moet & Chandon champagne and Hennessy cognac, said on Tuesday that it has added four months of wine and spirits inventory to the UK to prepare for the country’s expected exit from the European bloc.

We are ready for the worst case scenario if there were difficulties with deliveries,” executives said on LVMH’s fourth-quarter earnings conference call, noting that the UK represents 4% of the group’s revenue.

While it prepared for the worst in the UK, the Paris-based conglomerate enjoyed solid growth in all regions last quarter. In particular, the company cited strength for wine and spirits in China, where consumers have been snapping up its Hennessy and Dom Pérignon. – Bloomberg DM

Gallery

Please peer review 3 community comments before your comment can be posted

We would like our readers to start paying for Daily Maverick...

…but we are not going to force you to. Over 10 million users come to us each month for the news. We have not put it behind a paywall because the truth should not be a luxury.

Instead we ask our readers who can afford to contribute, even a small amount each month, to do so.

If you appreciate it and want to see us keep going then please consider contributing whatever you can.

Support Daily Maverick→
Payment options

Become a Maverick Insider

This could have been a paywall

On another site this would have been a paywall. Maverick Insider keeps our content free for all.

Become an Insider