Luxury goods company LVMH is seeing a drop in revenue for Champagne sales in 2024 — and the brand’s chief financial officer thinks it might be because there’s not much joy in the world right now.
In other words, because people aren’t so inclined to pop open a bottle of bubbly with the state of the world, the industry is feeling it.California homeowner ropes off public beach, claiming it is part of her multimillion-dollar propertyThe company sold 15% fewer bottles of Champagne in the first half of 2024 compared to the same period last year — though still and sparkling wine sales were up 16%.
That is partly due to weather conditions there, such as frosts and wet weather that “increased mildew fungus attacks,” which have affected the production of the most important ingredient in Champagne: grapes,