Champagne sales down worldwide in 2024, industry executives cite lack of 'cheer'
Wine Spectator senior editor Alison Napjus provides professional analysis of inflation’s impact on wine and Champagne prices nationwide on ‘Mornings with Maria.’
Champagne sales worldwide appear to have fizzled out in 2024. The traditional toast to life's celebrations like weddings, promotions and even christening new ships appears to have fallen flat. The CFO of luxury holdings company LVMH, which owns brands like Louis Vuitton and Moët et Chandon, believes it has to do with consumers feeling happy enough to celebrate. ULTRA RIGHT BEER UNVEILS LIMITED EDITION CAN FEATURING TRUMP'S 'ICONIC FIST PUMP' POST-ASSASSINATION ATTEMPT On a Tuesday call covering earnings, LVMH CFO Jean-Jacques Guiony said, "Champagne is quite linked with celebration, happiness, et cetera," according to Business Insider. "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," Guiony added.
A general view of Champagne glasses during The Mercury Prize 2023 awards show at Eventim Apollo in London on Sept. 7, 2023. (JMEnternational/Getty Images)
