There have been signs of a slowdown in the Cognac market in recent months, with companies like LVMH and Remy Cointreau revealing lackluster sales and a decline in revenue throughout the first quarter of 2024. But that hasn’t stopped the major Cognac houses from continuing to release some ultra high-end expressions, the latest of which is a large-format $22,000 bottle from the leader in the category, Hennessy.
The vast majority of Hennessy‘s sales are built around the core V.S., V.S.O.P., and X.O. expressions. But the brand also has several higher-end releases in its portfolio, including the Master Blender’s Selection (which just launched its fifth edition), James Hennessy, Paradis, and the Cognac in question, Richard Hennessy. This pinnacle release is named after the founder of the Cognac house, and is said to be a blend of the rarest eaux-de-vie to be found in the Hennessy cellars that come from just 12 tiercons, the large French oak barrels that are used to age the spirit.
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The same careful selection of eaux-de-vie and artful blending goes into the new Richard Hennessy Magnum, but this is a larger version of the original—a first for this particular expression, Magnum is released at 1.75 liters instead of the original 750 ml to celebrate the 300th anniversary of the founder. As is usually the case, a special release gets some special packaging. In this case, the liquid comes in a Baccarat crystal decanter designed by Daniel Libeskind, who has worked with Hennessy before on previous Cognac expressions. The Magnum decanter is suspended inside a metal frame with a portrait of Richard Hennessy behind it, designed by French calligrapher Nicolas Ouchenir, that reflects through the amber liquid inside. Each set comes with two cut crystal glasses, a pipette, and a holder. Official tasting notes describe a flowery palate with soft spices, nutmeg, leather, and hints of fennel.
Despite the recent slump in the Cognac category, other houses have been hedging their bets that the luxury market will continue to show strength and collectors will still seek out rare bottles. For example, Martell launched the new L’Or de Jean Martell Reserve du Chateau de Chanteloup last winter (SRP $7,500), and Remy Martin released its 300th Anniversary Coupe expression (SRP $2,735). There are just 110 sets of Richard Hennessy Magnum available globally, each priced at $22,000, and these are only available to purchase through Hennessy private sales or at Houses of Hennessy around the globe. You can also find the rest of the Hennessy collection, including the fantastic new Master Blender’s Selection No. 5, available to purchase from websites like ReserveBar now.
