Connect with us

Hi, what are you looking for?

News

Champagne makers celebrate record sales ahead of Christmas

TRISTAN GASSERT-UNSPLASH

REIMS, France — Champagne sales are expected to reach a new record this year, despite inflation that could have made consumers shun the expensive bubbly, producers said ahead of the start of year-end celebrations around the world.

Champagne sales reached an all-time high last year at €5.7 billion ($6.05 billion), as the relaxation of pandemic-related curbs fueled a surge in exports.

“We will very likely beat this record again and 2022 will be the new champagne record in terms of turnover,” David Chatillon, chairman of the Union of Champagne Houses (UMC), told Reuters in Reims, in eastern France, home to some of the most famous Champagne makers.

Sales would also rise by volume this year compared with the 320 million bottles sold in 2021, but remain below the 2007 record of 339 million bottles, he said.

“We have consumers who are perhaps less impacted by inflation than others and we have noticed since the end of the pandemic crisis that people want to have fun, they want good products, and opening a bottle of champagne is in itself a celebration,” Mr. Chatillon said.

Export sales were also expected to reach record highs.

“Our first three markets, the United States, Britain, and Japan, are doing very well and so are the other European destinations,” Mr. Chatillon said.

Champagne prices have risen this year as winemakers passed on a rise in costs, notably for bottles and transport. The energy crunch had less impact than on more energy-intensive sectors as harvesting was done manually, he said.

This year’s wine harvest in Champagne, which Mr. Chatillon called “miraculous,” was 45% above the five-year average due to good weather conditions and doubled from 2021, when frost and mildew fungus ravaged vineyards, official data showed.

The war in Ukraine and sanctions against Russia had little impact on Champagne sales as bottles were re-dispatched to meet strong demand from other markets, Mr. Chatillon said. — Reuters

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Ava Whetstone-Magee, the founder of Avalanche Equestrian talks about the lightbulb moment which led her to start her business at the age...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.