Will champagne hit the wall?

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Carol Duval-Leroy, owner of Champagne Duval-Leroy, producing some 6 million bottles per year, is worried about the future with rising champagne prices and looming financial crisis. Prices of grapes as well as of champagne has gone up recently. Grape prices are up 11% over two years and the price of a bottle have gone up 10% per year in some cases. At the same time, the most recent export statistics show a sagging market: down 22% in the US, down 4.4% in the UK, down 18% in Spain… “We are entering a difficult period, and I’m not sure consumers will put up with excessive price hikes” says Duval-Leroy. Perhaps a welcome touch of reality with the champagne producers? Read more on Bloombergs.com

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