FRANCE: Premiumisation takes hold at Laurent-Perrier in Q1
Laurent-Perrier has seen its more expensive offerings perform well in its Q1
Laurent-Perrier has posted a healthy lift in sales for its first fiscal quarter, with its more premium brands performing well.
The Champagne house, which is listed on the French stock exchange, said yesterday (20 July) that, for the three months to the end of June, sales came in at EUR41m (US$58.1m) an 11.5% rise on the corresponding period a year ago. Its premium Champagne brands upped their share of total sales, by 3 points to 40.7% of total turnover.
"The favourable brand mix can also be explained by the slight drop in volumes from other brands, linked to fewer sales activities during the quarter," Laurent-Perrier said. "As a result, the group saw a sharp improvement in the price/mix effect, which rose to 14% during the quarter."
The firm was keen to point out that its first-quarter figures "should not be extrapolated to the entire financial year, as it generally accounts for less than 20% of the year’s turnover".
Looking forward, the company said it will up its focus on the Laurent-Perrier brand as volumes for its other brands "seem likely to stabilise in the mid-term".
To read the official release, click here.
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