Champagne sales topped €6 billion ($6.5 billion) for the first time last year as exports outside France surged.
Total shipments increased 1.6% to 326 million bottles, according to a statement Wednesday from the Comite Champagne business organisation. Exports of the sparkling wine produced in the region east of Paris increased, while sales on the domestic market fell.
Champagne has “recovered from the Covid-19 crisis,” the group said, adding that the 2022 harvest was remarkable both in quantity and quality, which will allow stocks to be replenished.
Last year exports surpassed sales in France, with 187.5 million bottles, or 58% of the total going abroad, according to the statement. That’s an increase of 4.3% compared with a drop of 1.7% on shipments within France. A decade ago, exports made up just 45% of the total.
Champagne sales slumped during the pandemic when bars and restaurants were closed due to lockdowns, and as travel curtailments crimped duty-free sales.
One of the top producers is LVMH Moet Hennessy Louis Vuitton SE, founded by luxury tycoon Bernard Arnault, the world’s richest person. The group has a stable of brands including Dom Perignon, Moët & Chandon, Ruinart, and Veuve Clicquot.
© 2023 Bloomberg
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