The total number of Champagne shipments from France sank nearly 10% last year to 271 million bottles, marking the second consecutive year of declines as inflation-weary consumers cut back.
Maxime Toubart, co-president of the organization, said bluntly that this is no time for celebration, with inflation, conflicts around the world, and economic uncertainty affecting sales.
Despite the declines, the association's co-president David Chatillon reiterated that Champagne is a solid, sustainable organizational model that has proved its value in adversity.
LVMH Chief Financial Officer Jean-Jacques Guiony highlighted that the current geopolitical and macroeconomic situations discourage people from celebrating with Champagne.
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