Hennessy - Marketing Luxury Products

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Hennessy Anthony Politelli March 26, 2009 MBA 596 – Marketing Luxury Products Table of Contents Introduction History Products Brand Leveraging Competition Marketing Introduction Hennessy, or more specifically, Jas Hennessy & Company has established itself as an well-known French winery and is one of the co-leaders of the prestigious luxury goods company, LVMH (Louis Vuitton Moet Hennessy). Hennessy’s specializes in the sale of cognac which is a brandy distilled from white whine and distilled in the vicinity of Cognac, France. Cognac is considered by many to be one of the finest, if not the finest, of all spirits. It is made from the white grapes grown in the Charante region of France and is named after the town of Cognac in the French region of Charante. The name cognac is sometimes referred to as “burnt wine” due to the process in which is it made being subjected to a double heating. Hennessy has had an extensive history and has been the drink of choice for many prominent figures throughout history. Hennessy has a dominant market share occupying more than 40 percent of the world’s cognac market share. It sells approximately 50 million bottles of its product per year worldwide. History Tracing the history of Hennessy back to its early beginnings will bring you back to 1765 to Cognac, France where an Irish aristocrat Richard Hennessy established an Eaux-de-vie trading business. As thanks for being a mercenary for King Louis XV, Hennessy was given land which would serve as the location for his newfound cognac business. A few years later in 1974, Hennessy began its first transcontinental delivery of Hennessy Cognac to the United States. In 1800, Hennessy appointed Jean Fillioux as its first “Master Blender” and he later coined the trademark “Jas Hennessy & Co.” Today we think Hennessy as a luxury drink, as it is typically associated

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