A BIG POP FOR CHAMPAGNE

CHAMPAGNE SALES had a record year, driven by solid demand from export markets, favorable currencies and stabilizing sales in France. Estimates gathered by Reuters showed that about 312 million bottles of the prestige sparkling wine were dispatched in 2O15, a rise of about 2% from 2O14. Revenue has risen 4.4 percent to 4.7 billion (US $5.O49 billion) in 2O15. The sales estimates reflected efforts to promote higher-priced products such as special blends and fine vintages, as well as growing demand for Rose Champagnes in Japan and the US, Champagne’s second largest export market after Britain. Sales were improving in French hypermarkets as well as in specialized stores. Lower energy prices and interest rates may have helped improve consumer purchasing power. The Champagne market is dominated by LVMH, which owns the Dom Perignon, Moet & Chandon, Veuve Clicquot, Ruinart and Krug brands. Specialist makers include Lanson-BCC, Vranken and Laurent Perrier as well as drinks group Pernod Ricard with its Mumm and Perrier-Jouet brands. Champagne is facing tougher competition from Spain’s Cava and Italy’s Prosecco, sold for as little as a third of the price. Industry professionals say the Champagne sector is fighting back by stepping up the quality of its own product.