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Demand for Champagne plummeted last year as consumers around the world felt there was little to celebrate.
The grim verdict came from Maxime Toubart, president of the Syndicat Général des Vignerons, the French region’s producers’ union. He said: ‘Champagne is a barometer of consumers’ mood.
“Now is not the time to celebrate given inflation, conflict, economic uncertainties and political waiting in some of the biggest champagne markets.”
Shipments fell 9.2 percent last year compared to 2023, to 271.4 million bottles, according to the Champagne Committee trade association.
Little to celebrate: Shipments fell 9.2 percent last year compared to 2023, to 271.4 million bottles, according to the Champagne Committee trade association.
The moderate appetite of consumers led French producers to reduce the number of grapes harvested last July.
Instead, Fizz fans have turned to cheaper alternatives such as prosecco and English sparkling wine.
It comes as luxury companies – including LVMH, which owns Moet & Chandon, Veuve Clicquot and Dom Pérignon – face a slowdown. LVMH is expected to provide insight into the health of the market when it briefs investors next Tuesday.
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