Blog: Recession has cheapened Champagne
Chris Mercer | 21 July 2010
Rome may not have been built in a day, but it was knocked down in one - as Champagne producers are discovering in 2010.
Laurent-Perrier has brought a little cheer to northern France's most famous wine region today (21 July) by reporting a 17% jump in first quarter sales.
However, the group reluctantly admitted that many consumers are still opting for cheaper brands within its range: Volume growth in Q1 massively outpaced value sales.
This will not come as a surprise to the Champagnois, but it may cause a little concern.
The global economic downturn has washed away several years of steady price rises in Champagne's key export markets and the industry, although rebounding from the lows of last year, is finding these gains difficult to win back.
Rome never regained its former glory. Champagne will probably fare better, but it may take a while.
Want to know how to make it to the top of the beverage business? According to Muhtar Kent, it's all about the networking....
A red sticker to a shopper is like a red rag to a bull. And as the masses charge at the deals, UK off licences and supermarkets are finding new and novel ways to entice the herd. ...
To celebrate its 250th anniversary, Cognac brand Hennessy is trumpeting a virtual time capsule, making a parallel between it and a barrel of Cognac....
Rarely do sponsorship deals pay off so quickly. ...
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