Perhaps the starkest illustration of prevailing trends in the global beverage alcohol arena is offered by the fine wine market – that rarefied space where the wealthy buy and sell cases of DRC, Lafite, Krug and Petrus, sometimes deemed all but immune to any macroeconomic malaise. Since October 2022, according to fine wine exchange Liv-ex, the value of the market has contracted by 27%, the longest period of decline in a generation.
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