Blog: Downturn to give Cognac a breather?
Olly Wehring | 8 December 2008
Cognac has spent the last couple of years running to catch its tail, hardly able to turn the stuff out fast enough for its growing collective of consumers, from hip-hop stars to China's nouveau riche.
Could it be that the economic downturn will give Cognac a little space to breathe?
It's an unconventional idea, but one that holds some water for Courvoisier president and master distiller Jean-Marc Olivier.
Speaking to him at last week's party for the Courvoisier Future 500 club, he said that a serious global downturn could never be described as a good thing for Cognac. But, he said some parts of the industry may benefit from a slackening of demand.
Cyril Camus, CEO of Camus, another of the region's five biggest producers, said a year ago that continued rapid growth for Cognac would lead to shortages in the near future.
A slight drop in sales may, therefore, help to replenish stocks. Every cloud...
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