Champagne house Laurent-Perrier has seen revenue fall by more than a quarter in its first half, due to slowing demand and a group reorganisation.

Revenue slid by 26%, or 23% on a constant current basis, to EUR85m for the six months ended 30 September, said Laurent-Perrier today (13 November).

The Champagne house re-iterated that the current year is a transition period. Prices for Laurent-Perrier have risen by around 17%, it said, while distribution has been deliberately reduced to position the brand higher in the market.

Sales have also been hit by falling demand for Champagne in western Europe and the US, which are currently in the brink of recession.

Global Champagne sales dipped 3.6% during the quarter, said the firm. "The dynamism of markets in Africa, Asia and the Middle East  has not been able to compensate for the strong slowdown in Japan, nor in traditional markets, particularly France, UK, US and Belgium," it said.