The remarkable 2010 recovery in cognac sales was very much a four horse race.
Hennessy leads with a gargantuan 40.5% of sales volume, followed by Remy-Martin (18.2%), Martel (14.01%) and Courvoisier (9.98%).
Far behind, in fifth place, Camus strikes forward as a worthy representative for the smaller, family run firms. Following the poor sales in 2009, which saw an overall 5% drop, this strong recovery shows the sheer volatility of the alcohol and spirit market.
In essence, the global crisis caused a ‘down trading,’ particularly in the USA, and all products took a hit. Of course, cognac was in no way immune from this worldwide trend. Consumers turned to younger, less expensive spirits in a bid to save money.
But 2010, thanks largely to the continuing growth in the Asian market, saw a complete turnaround, and the older, high end XO and VSOP sales exploded by 37% and 29% respectively.
Now the cognac producers and marketers are crossing their fingers for a leap in sales for the Chinese New Year on Feb 03.
So, after the record breaking year of 2010, the world of cognac moves into 2011 with its head held high. We’ll raise a glass to that. Cheers.