Nairobi — Hennessy, the world’s largest maker of cognac, has started distributing its products in Kenya to tap Africa’s second-largest luxury-goods market. The company, a unit of Paris-based LVMH, began distributing its products in the Kenyan capital in May and plans to use the city as a hub for regional distribution, CEO Bernard Peillon said in an interview in Nairobi. A bottle of Hennessy cognac retails for as much as 117,000 shillings ($1,127) in the city’s shops, the company said. "Kenya is a boost market, the next emerging market frontier for us," Peillon said. The company is targeting "double-digit" sales growth, he said, without specifying targets. Kenya was Africa’s second-largest market for luxury goods in 2016, with revenue of about $500m, up 25% from a year earlier, according to a report by New World Wealth, a Johannesburg-based research group. The country ranked behind SA’s $2.3bn market and ahead of Nigeria, it said. Brands like Hennessy are expanding their reach on the...
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