• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Lifestyle

Champagne sales decline due to ‘lack of joy in the world’

‘The current global situation does not lead people to open bottles of Champagne’

Charlie Herbert by Charlie Herbert
2024-07-26 15:27
in Lifestyle
Andrew Matthews/PA

Andrew Matthews/PA

FacebookTwitterLinkedinEmailWhatsapp

Champagne sales are slumping due to a lack of “celebration” and joy in the world, according to business leaders.

Luxury goods company LVMH reported a drop in revenue for Champagne sales in 2024, with the company’s chief financial officer Jean-Jacques Guiony saying this is down to people not having reasons to celebrate.

He said on a earnings call on Tuesday: “Champagne is quite linked with celebration, happiness, et cetera.

“Maybe the current global situation, be it geopolitical or macroeconomic, does not lead people to cheer up and to open bottles of Champagne. I don’t really know.”

Basically, the state of the world at the moment means people aren’t that keen to pop open a bottle of bubbly.

Business Insider reports that LVMH, whose brands include Dom Pérignon, Krug, Ruinart, sold 15 per cent fewer bottles of Champagne in the first half of this year, compared to the same period in 2023.

The company generated 1.4 billion euros – about £1.18 billion – in revenue for both Champagne and wines during the first half of 2024, down 12 per cent from 2023.

Guiony said Champagne demand has been on the slide in Europe particularly, but this was also down to frosts and wet weather which have affected grape production.

Related: Eurostar tells customers to cancel trips following ‘co-ordinated’ rail vandalism ahead of Olympics

RelatedPosts

Balancing Employee Privacy with Digital Accountability in the Workplace

How Good Organisational Skills Can Benefit Open University Students

9 Micro SaaS Examples To Take Inspiration From In 2025

Authentic Italian Recipes: Traditional Flavours at Home

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Liam Fox: I convinced Natalie Imbruglia to release ‘Torn’ ← Thunderball Results for Friday 26 July 2024
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->