COGNAC DAILY NEWS

MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts

HENNESSY STARTING TO SELL IN KENYA

Cognac Hennessy in Kenya

Cognac Hennessy in Kenya

After pushing hard in Nigeria, Hennessy is now starting to distribute its cognac in Kenya to take the opportunity of Africa’s second-largest luxury-goods market, with a market growth expected to be double digit.

In 2017, Kenya has 9,400 dollar millionaires, fourth-highest in Africa, and 17000 millionaires are expected in 2027.

Kenya was Africa’s second-largest market for luxury goods in 2016, with revenue of about $500 million, up 25 percent from a year earlier, according to a report by New World Wealth, a Johannesburg-based research group. The country ranked behind South Africa’s $2.3 billion market and ahead of Nigeria, it said. Brands like Hennessy are expanding their reach on the continent to tap into growing numbers of middle-class and rich people.

Source: Bloomberg

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on July 27, 2017 by in Hennessy and tagged , , , , , .
%d bloggers like this: