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

2024: 4.3-fold loss reduction to ₽22,5 million

The annual loss of the Russian subsidiary Louis Vuitton Moyt Hennessy (LVMH) decreased 4.3 times, amounting to ₽22,5 million in 2024 against ₽97,3 million a year earlier in 2023. The relevant data are contained in the financial statements of Moet Hennessy Distribution Rus, published in early March 2025.

As Interfax reports with reference to the company's reporting documents, in 2024 it received income in the form of interest on loans issued in the total amount of ₽137 thousand. For comparison, in 2023, similar revenues amounted to ₽3,897 million, and in 2022 - ₽32,287 million.

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Фото: Freepik

According to the published document, in 2024 it was decided to partially cancel the payment of dividends in the amount of ₽200 thousand. In 2023, the company did not declare or pay dividends, and in 2022 dividends for 2021 were paid to the only participant in the joint-stock company in the amount of ₽753,537 million.

A significant decrease in the company's loss in 2024 is explained by a reduction in management costs to ₽20,7 million compared to ₽87,4 million in 2023 and ₽295,6 million in 2022. After the suspension of deliveries of products to Russia in March 2022, the company reduced rental and other costs, and the staff was reduced to one person.

The company's management notes that the suspension of the supply of alcoholic beverages to Russia is temporary, but there are no plans to resume supplies in the foreseeable future. However, the company believes that it has sufficient resources to carry out its activities continuously.

The latest (by March 2025) data on the revenue of Moet Hennessy Distribution Rus LLC date back to 2022, when it amounted to ₽2,1 billion against ₽6,1 billion in 2021.

LVMH is the world's largest manufacturer of luxury goods and is controlled by French billionaire Bernard Arnault and his family members. The parent company has suspended the supply of alcoholic beverages to Russia since March 2022 in connection with the start of a special military operation.^[1]

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.^[2]

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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