Champagne sales for the first half of 2024 have dropped worldwide, and one industry executive thinks the reason is simply because there’s less joy in the world and a lack of “celebration.”
Speaking on a Tuesday earnings call, CFO Jean-Jacques Guiony — with luxury goods company LVMH (responsible for such brands as Dom Pérignon, Krug and Mercier) — said that people are just not in a celebratory mood, the New York Post noted.
“Champagne is quite linked with celebration, happiness, et cetera,” Guiony said.
“Maybe the current global situation, be it geopolitical or macroeconomic, does not lead people to cheer up and to open bottles of Champagne,” he added. “I don’t really know.”
The company said that in 2024, it had sold 15% fewer bottles of Champagne than the year prior over the same time period, the outlet noted.
Guiony said that while the Champagne industry has…
