Champagne shipments tumble again as luxury slowdown worsens

Champagne shipments dropped for a second straight year in 2024 as fewer shoppers splashed out on the French bubbly amid a broader slowdown in luxury spending.

Total shipments fell to 271.4 million bottles, data compiled by Comite Champagne showed, a 9.2% annual decline. Leaving aside 2020, when pandemic lockdowns curbed sales, shipments were at the lowest level since 2001, the year the 9/11 terror attacks shook the US.

“Champagne is a real barometer for the state of mind of consumers,” said Maxime Toubart, co-chairman of Comite Champagne, the organization that represents French producers. Inflation, world conflicts and economic uncertainty have dimmed the celebratory mood in France, the US and elsewhere, he added.

Shipments within France, which produces the bubbly wine and consumes more than any other country, fell to the lowest since 1983 — again excluding 2020. France represents about 44% of total shipments.

Demand for Veuve Clicquot, Bollinger and other brands soared when pandemic restrictions eased, but has since turned lower, a trend seen across the luxury-goods industry.

LVMH Moët Hennessy Louis Vuitton SE, the biggest Champagne producer with labels such as Dom Perignon, Moet & Chandon and Ruinart, has seen demand slide for the past two years at its wines and spirits unit. LVMH reports full-year earnings on Jan. 28.

Chief Executive Officer Bernard Arnault overhauled leadership at the unit in November, naming outgoing Chief Financial Officer Jean-Jacques Guiony as its new chief and his son Alexandre Arnault as his deputy, starting next month.

© 2025 Bloomberg

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