Louis Vuitton 2004 Annual Report Download - page 23

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21
LVMH annual report 2004
&The Wines and Spirits
brands posted steady
sales growth in volumes,
particularly remarkable
with a policy of high
prices, and gained market
share in the up-market
segments.
Moët Hennessy
continued to expand its
distribution network,
particularly in the United
States.
Moët Hennessy raised its
equity stake in Millennium,
whose leading product is
Belvedere vodka, to 70%,
and acquired
Glenmorangie, whose
famous malt whisky is a
leader in its markets, and
which owns two other
fine quality distilleries,
Glen Moray and Ardbeg.
The “New World” wines
are now part of a new
company, Moët Hennessy
Wine Estates, which is
working to become an
international benchmark
portfolio of premium wine
brands.