Light cognac – what is the world coming to?
Cognac-drinking consumers were historically older and more affluent, but that’s changed in the past decade as hip-hop artists have touted the spirit in popular culture. Hennessy is capitalising on that success with a social media effort for Hennessy Black, which costs USD 39.99 for a 750 ml bottle. For Hennessy, this is the first major product launch in the United States in almost 50 years. The suggested retail price puts Hennessy Black at a premium to the Hennessy VS (very special), which often sells for around USD 30, but still below the higher-end VSOP (very special old pale) and XO (extra old) versions.
Hennessy Black, which is owned by the French conglomerate LVMH Moet Hennessy Louis Vuitton, was introduced in 2009 in selected U.S. cities, but in June 2010 it became available nationwide. To support the release of Hennessy Black, the brand will aim to reach young, hip consumers through dance and music in high-energy settings across the country.
Packaged in a sleek, black bottle, Hennessy Black is a blend of 35 to 45 unique, pale and gold coloured eaux-de-vie selected for their floral characteristics, subsequently aged in French oak barrels for at least five years. Hennessy Black’s gentler wood influence results in a different expression of Hennessy cognac: lighter and fresher with scents of jasmine, daffodils and orange flowers that are delicately mixed with hints of citrus, honey, and fresh grapes.
Hennessy is the number one cognac in the world, according to Impact Databank, outselling Remy Cointreau SA’s Remy Martin, Pernod Ricard’s Martell and Fortune Brands Inc’s Courvoisier. It is the world’s 17th-biggest branded spirits brand.
In the first quarter 2010, revenue in LVMH’s alcoholic beverage business jumped 18 percent to EUR 635 million, or 14 percent of the group’s total revenue of EUR 4.47 billion. The company said it benefitted from distributor de-stocking and an upswing in consumer demand. LVMH also makes Moet & Chandon and Dom Perignon champagnes, 10 Cane rum and Belvedere vodka.
