MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts
It plans to do this by tapping growth markets in Asia, especially China.
Alcohol producer Moet Hennessy expects to increase its global market share by at least 10 percentage points in the next decade.
Moet Hennessy is optimistic about capturing a bigger slice of the pie for cognac.
Over the last 10 years, it has gained market share from 34 to 44 per cent. It is now gunning for about 55 per cent market share in the next decade.
Gilles Hennessy, EVP, Moet Hennessy: “If you look at the last 10 years, we have exactly gained for Hennessy one point of market share per year. So 10 points of market share in the last 10 years, why not 10 more in the next 10 years? We went from 34 per cent to 44 per cent; there is no limit to the potential of this brand.”
Branding is likely to be a key strategy, which includes keeping prices consistent to maintain the exclusivity of the brand.