Luxury brand capitalises after shipments hit record £5.3bn despite cost of living crisis
There’s no sign of the cost of living crisis at Spencer House, an 18th-century aristocratic palace, overlooking Green Park in Mayfair, London, which has this week been temporarily renamed Bollinger House to celebrate the launch next week of a £350-a-bottle champagne.
Champagne shipments hit a record €6bn last year, according to the Comité Champagne, the trade association of producers in northernCharles Goemaere, Comité Champagne’s general manager, said producers had been slightly caught off guard by the strength of demand after the return to normality after the coronavirus crisis.
Goemaere said rich people – whose disposable income has been largely unaffected by soaring inflation – were particularly seeking out specific vintages and more valuable bottles. “The rebound was particularly unexpected on some bottles, and some producers may have faced difficulties.” Goemaere said talk of a champagne drought had been greatly exaggerated and sought to reassure lovers of the fizz that more than 1.2bn bottles were stored in the region’sThe number of bottles shipped in 2022 increased by 1.6% to 326m, but prices were much higher leading to a 10% increase in value of total shipments. In 2020 – at the height of the pandemic – just 245m bottles were shipped.
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