Sourced From: Fortune
A Glimpse into the Cellar
Picture a world where LVMH’s champagne once flowed like liquid gold in the euphoric aftermath of lockdowns. But times change. Moët Hennessy’s chief, Philippe Schaus, recalls a post-pandemic surge dubbed “revenge pleasure.” As we enter 2023, those vibrant memories fade, overshadowed by the looming weight of global inflation.
Yet, champagne’s allure isn’t entirely lost. While many now prefer home comforts, high-end venues from Mykonos beaches to Parisian bistros still celebrate with top-tier bubbles.
However, caution lingers in the air. Organic sales saw a 3% decline, signaling the U.S.’s cooling romance with Cognac. Meanwhile, the vigilant Comité Champagne predicts a 3.7% dip in this year’s bottle shipments.
Through the Grapevine: The post-lockdown splurge, fueled perhaps by feared shortages, now steadies, accelerated by financial strains.
But hope sparkles on. Shanken News Daily sheds light: U.S. interest in sparkling wines may waver, but brands over $10 continue to thrive. Prosecco powerhouses La Marca (owned by the American E&J Gallo) and Mionetto (owned by the German conglomerate Henkel Freixenet) rise triumphantly while Veuve Clicquot navigates gentler waters.
A Thoughtful Sip
U.S. sparkling wine sales may be mellowing, but those priced above $10 radiate promise. Last year alone, these upscale bubbles grew 1.5%, a significant jump from their presence two decades ago.
In a landscape where premium spirits enchant and economic uncertainties loom, sparkling wines, especially those premium brands, remain poised for broader appeal – not just for celebrations but for cherishing daily moments. Enter Prosecco’s darling premier challenger, Bella Principessa luxury Prosecco brand. The future is bubbly.