Champagne producers report softening demand in the luxury market 

LVMH Moët Hennessy Louis Vuitton told Bloomberg in September that Champagne demand had softened, especially for consumption at home.

LVMH, the biggest maker of Champagne, owns labels such as Moët & Chandon and Dom Pérignon. The group’s wines and spirits unit, which also includes Hennessy Cognac, saw revenue tumble 7% on an organic basis in the first nine months of last year — the only division to suffer a drop over the period.

France’s Champagne producers shipped fewer bottles of bubbly last year, another sign of softness in the luxury market.

Foreign shipments from the French region dropped 8.2%, the Comité Champagne, which represents the producers, said. Within France, shipments fell to the lowest level in almost four decades excluding 2020, which was skewed by pandemic lockdowns.