28 Dec '13, 11am

Weak Champagne sales on French economic gloom

Weak Champagne sales on French economic gloom

Weak Champagne sales on French economic gloom Dec 28, 2013 France’s ailing economic environment has, for a consecutive year, contributed to a slow down in sales of Champagne despite sales growing in certain emerging markets. Industry estimates gathered by Reuters showed that sales by volume will drop between three and four percent this year after a 4.4 percent fall in 2012, leaving total revenues flat at best. “Over the past two years the situation has been difficult in Europe, mainly in France , while it remains solid outside Europe,” Etienne Auriau, financial officer of Laurent Perrier, the world’s third largest champagne brand, told Reuters, adding ”Competition exists, it’s not new, and quality is increasing. Champagne producers must be careful and maintain quality at its highest level,”. Market professionals contacted by Reuters said demand in France, which still accou...

Full article: http://www.cpp-luxury.com/weak-champagne-sales-on-french-...

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