Moet Hennessy Distribution Rus Moet Hennessy Russia

LVMH Moet Hennessy Russia (LLC Moet Hennessy Distribution Rus) is owned by the multinational company Louis Vuitton (abbreviated LVMH).

Performance indicators

2022: Losses of 213.3 million rubles

The Russian subsidiary of Louis Vuitton Moet Hennessy (LVMH) ended 2022 with net losses of 213.3 million rubles, while a year earlier the company recorded a net profit of 722.6 million rubles. The revenue of Moet Hennessy Distribution Rus in comparison with these periods decreased almost 3 times - to 2.116 billion rubles from 6.114 billion rubles. Such data were released in April 2023.

In 2022, LVMH suspended the supply of products to the Russian Federation. Despite the fact that the holding's stores in the country were closed, employees continued to be paid salaries.

Moet Hennesy ended the year with a loss of 213.3 million rubles

LVMH's assets in Russia and Ukraine mainly relate to trading equipment and store equipment, as well as to right-of-use assets under store lease agreements. These assets represent insignificant amounts in relation to the total amount of the group's assets, the French conglomerate said in its statements.

According to Interfax, Moet Hennessy Distribution Rus supplied elite alcohol brands to the Russian Federation. According to the Association of Retail Companies (ACORT), LVMH's share in the imported champagne category (Moet Chandon, Veuve Clicquot, Ruinart, Don Peregnon) was 36%, cognac (Hennessy) - 26%. The Hennessy and Moet brands are included in the list of goods that can be imported into Russia according to the parallel import scheme. In July 2022, LVMH holding announced a deal with Russian management - all 88 stores were transferred to CEO Evgeny Drozdov.

From the LVMH reports, it follows that the company lost €210 million in 2022 due to the sale of a chain of stores of its Sephora brand in Russia. At the same time, LVMH reported a record revenue of €79.2 billion over the past year, which is 23% higher than in 2021. Net profit amounted to €14.1 billion. Most of the company's revenue (€38.6 billion) was brought by fashion brands.^[1]

History

2023: Alina Klushina - New CEO of Moet Hennessy Distribution Rus LLC

Moet Henessy has appointed a new general director in Russia - Alina Klushina became it. This became known on January 26, 2023. Read more here.

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