Champagne sales are plummeting as celebrations get canceled amid the pandemic - Business Insider

Champagne producers have lost an estimated $2 billion in sales this year as celebrations have been canceled amid the coronavirus pandemic. On August 18, a committee that represents 16,000 French winemakers is expected to put a cap on production that will lead to record amounts of grapes being destroyed or sold to distilleries at a discount.REIMS, France — Champagne is losing its fizz.

"We are experiencing a crisis that we evaluate to be even worse than the Great Depression" of 1929, said Thibaut Le Mailloux of the Champagne Committee, known by its French acronym CIVC, that represents some 16,000 winemakers. "Champagne has never lived through anything like this before, even in the World Wars," Selosse added. "We have never experienced ... a sudden one-third fall in sales. Over one hundred million bottles unsold.""It should not be forgotten that has lived through every single war," said Paul-Francois Vranken, founder of Vranken-Pommery Monopole. "But with the other crises, there was a way out. For now, there is no way out — unless we find a vaccine.

I just want to clue you in on some one side information, everything but toilet paper and alcohol sales have plummeted because of the pandemic.

Well at least there's proof I'm not drinking just to drink

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amazon's online grocery sales tripled as people stayed home amid the coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I would do this, but their grocery app is the worst $amzn wholefoods
Source: BusinessInsider - 🏆 729. / 51 Read more »

Visa's payments volume plummeted in its most recent quarter due to the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

California Pizza Kitchen files for bankruptcy amid pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 😔 BusyPhilipps thinking of the teen you.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Apple Earnings Surge Behind Stimulus and Remote WorkApple showed the technology industry’s resilience amid the pandemic, reporting a better-than-expected 11% increase in quarterly sales as it benefited from strong demand for apps and work-from-home devices. hm ...
Source: WSJ - 🏆 98. / 63 Read more »

Apple Services Business Grows Double Digits, Helps Boost Quarterly RevenueDouble-digit growth to Apple&39;s services business helped the tech giant weather a difficult quarter amid the ongoing global coronavirus pandemic.
Source: billboard - 🏆 112. / 63 Read more »