Hennessey wooing the young generation in China

Although the cognac market in China remains weak due to the ongoing austerity campaign, LVMH-owned Hennessey chose China's southern city Guangzhou as the first stop of a global tour to celebrate its 250th anniversary, hoping to tap into the country's expanding middle class.

Bernard Peillon, chairman and CEO of Hennessy, told China Daily that he believes the Chinese market is transforming and entering a stage of maturity similar to what the US experienced years ago.

The dynamic sales of Hennessy's VSOP and Classivm - a brand designed for Chinese market only four years ago to cater to young people - gives him confidence of a "bullish" future.