FRANCE: Laurent-Perrier sales hit by slowing economy
Laurent-Perrier Group has seen a fall in its nine-month revenues, hit by the slowing economy and strong competition.
The Champagne house said today (5 February) that revenues for the nine months to the end of December reached EUR155m (US$199m), a decrease at constant exchange rates of 23.9%.
However, despite the deteriorating market in the third quarter, the sales trend of the group showed a slight improvement over the second quarter, particularly for the Laurent-Perrier brand, the company said.
In early 2008, the company changed its sales policy with new pricing for its high-end Champagne whilst focussing on selective distribution channels.
The company said that this policy has resulted in lower volumes than were expected in the short term. Furthermore, sales had also slowed thanks to the economy and an increase in competition.
A decrease in sales of prestige Champagnes, especially in the US and Japan, has affected the proportion of high-end sales.
Exports of the brand Laurent-Perrier rose by almost 2 percentage points.
Laurent-Perrier has reported Champagne sales down by nearly 25% for its fiscal first quarter....
Pernod Ricard has confirmed the appointment of a new head for its operations in Switzerland....
Wan (Corporate Services) Ltd, the sole agent of Perrier in Hong Kong and Macau has refuted consumer council findings that its Nitrite levels are above EU standards....
Workers at Nestlé Waters' Quézac sparkling mineral water plant in southern France have begun strike action, demanding a EUR300 bonus....
- Comment - The Appeal and Perils of Craft
- Review of the Year 2014 - Part IV: Spirits
- Cuba-US Normalisation: Bacardi, Pernod Winners?
- Sustainability in Wine - Part I
- Time is Right for Refresco Gerber Exit
- Belvédère to sell assets, streamline portfolio
- Belvedere vodka tie-up over new James Bond film
- Diageo ups focus on China with Mortlach roll-out
- Diageo rolls out Beckham's Haig Club to US
- Brown-Forman eyeing Scotch, Irish whisk(e)y entry?
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- Global Tequila Market 2014-2018
- just-drinks on-trend: Craft beer - fortunes and future