Share
26th July 2024
03:21pm BST
Champagne sales are slumping due to a lack of "celebration" and joy in the world, according to business leaders.
Luxury goods company LVMH reported a drop in revenue for Champagne sales in 2024, with the company's chief financial officer Jean-Jacques Guiony saying this is down to people not having reasons to celebrate.
He said on a earnings call: “Champagne is quite linked with celebration, happiness, et cetera.
“Maybe the current global situation, be it geopolitical or macroeconomic, does not lead people to cheer up and to open bottles of Champagne. I don’t really know.”
Basically, the state of the world at the moment means people aren't that keen to pop open a bottle of bubbly.
Business Insider reports that LVMH, whose brands include Dom Pérignon, Krug, Ruinart, sold 15 per cent fewer bottles of Champagne in the first half of this year, compared to the same period in 2023.
The company generated 1.4 billion euros - about £1.18 billion - in revenue for both Champagne and wines during the first half of 2024, down 12 per cent from 2023.
Guiony said Champagne demand has been on the slide in Europe particularly, but this was also down to frosts and wet weather which have affected grape production.
Top Story
‘The Ninja Crispi has changed my life’ This article contains affiliate links. We may earn a commission on any sales generated from it. A Ninja favourite has dropped to one of its lowest prices ever for Black Friday. Amazon has launched its Black Friday week sale which runs between 20 November until 2 December. The […]
2 weeks ago
‘The Ninja Crispi has changed my life’ This article contains affiliate links. We may earn a commission on any sales generated from it. A Ninja favourite has dropped to one of its lowest prices ever for Black Friday. Amazon has launched its Black Friday week sale which runs between 20 November until 2 December. The […]
Food
2 weeks ago
Subway’s Christmas menu is here, and you need to try it Subway has unveiled its festive menu for 2025, featuring the brand-new Ultimate Festive Sub and Ultimate Festive Spud, alongside other new festive items, including a Turkey & Stuffing Footlong Dipper and a limited-edition Double Chocolate Orange Cookie. The Christmas menu is finally available in restaurants nationwide, and trust us when we […]
Food
3 weeks ago
It’s a real mouthful In the SPAR is an interesting enigma of a supermarket, not known among the big boys, but always there when in your neediest of moments. It surely isn’t one of the first shops people think of when naming supermarkets on our humble island, but it comes as shock to realise there’s […]
Food
1 month ago
The new venue will open in November. A new rooftop bar is set to take over Dublin’s central bank building. While the city isn’t exactly known for its rooftop bars, this trendy new spot is opening in November, just in time for Christmas do’s. Situated on top of the former Central Bank building on Dame […]
Food
2 months ago
This is one of the best air fryers available at the moment This article contains affiliate links. We may earn a commission on any sales generated from it. Our air fryer has become the one appliance we use the most in the kitchen, but we are in serious need of an upgrade. Luckily, Bosch has […]
Food
3 months ago
It comes down to the bees Avocados, usually cited as the reason millennials can’t afford to buy their homes, are now being questioned as a suitable food for vegans. The creamy green fruit, also blamed for causing “avocado hand” injuries by cack-handed attempts to remove them from their skin, is, some suggest, not vegan-friendly after […]
Food
4 months ago
Someone has created the lasagne burger and we’re here for it
Food
6 months ago
