Luxury goods conglomerate Louis Vuitton Moet Hennessy (LVMH) has appointed Stéphane de Meurville as managing director of Moet Hennessy India.
“India was identified within LVMH group as one of our key future markets, a rising star,” said Meurville who was previously general manager at Moët Hennessy Canada where he had been working since 2011.
“The logistics, legal regulations are tough, but all the high end products in categories like cognac, vodka, brandy and whiskey are growing faster than the main products. It’s a good time to be here to develop the market,’ he said
Moët Hennessy’s brand portfolio in India includes Dom Pérignon, Moët & Chandon, Veuve Clicquot, Hennessy, Glenmorangie, Ardbeg, Belvedere and the Chandon Winery in Nashik.
It is the first multinational company to open a winery in India in Nashik this year, the sixth outside France.
Meurville is optimistic on growth in India and said the company will look at investing more in the country. “We are experiencing tremendous growth and would like to invest further,” he said.
“The champagne market has been growing at a fast pace in India. We are looking bat capitalizing on the wedding market this and next year for our champagne brands,” said Meurville.
He also said the company’s super premium vodka bran Belvedere is growing faster than the super-premium category at around 20% compared to the industry of 11%.
(Source: The Economic Times)