food
Hennessy named top spirit brand for 2014
Hennessy is the top spirit brand despite a decline in consumption in China and Russia – two of its key markets. – Facebook pic, September 9, 2015. Thanks to a major boost in the US, cognac maker Hennessy has emerged the top-performing spirit brand in the world for 2014.
After looking at factors such as overall market volume, average price per case, and volume growth over the previous year, analysts at the UK-based International Wine and Spirit Research group gave the top spot to the French luxury brand on their World Class Brands ranking.
Hennessy’s performance is all the more impressive, says the IWSR, given that the brand saw a decline in consumption in China and Russia – two of its key markets.
But a particularly strong performance in the US – sales rose 10% in 2014 over 2013 – as well as growth in South Africa, Nigeria, and duty-free shops around the world helped to offset the nearly 21% decline in China, says IWSR.
Meanwhile, 2015 is also poised to become an auspicious year for the brand which has been feting its 250th anniversary by hosting a series of glitzy events around the world, including New York, Guangzhou, Moscow, Toronto and Johannesburg.
The brand also launched a commemorative collector’s blend, aged in 250 barrels stored near the banks of the river Charente in Cognac, France, to mark the occasion.
Hot on Hennessy’s heels is Jack Daniel’s, which also recorded a strong performance this year thanks to the whisky revival seen in the US.
New and innovative flavours such as the Tennessee Honey and cinnamon-infused Tennessee Fire also helped attract non-traditional consumers – notably females.
Here are the top-performing spirit brands from 2014, according to the IWSR:
1. Hennessy
2. Jack Daniel’s
3. Jameson
4. Grey Goose
5. Jim Beam
6. Bombay
7. Ciroc
8. Yeni
9. Cuervo
10. Fireball Cinnamon Shot. – AFP/RelaxNews, September 9, 2015.
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