Whispered from the Pages of Fortune
Into the Vineyard
Imagine a world awash with golden bubbles, where LVMH’s champagne flowed post-lockdown like a river of dreams. That world, my friend, might be ebbing.
The maestro of Moët Hennessy, Philippe Schaus, sketches a tale of yesterday – an era not long past, where each pop of the cork sang a song of “revenge pleasure.” Fast forward to 2023, and the celebratory echoes grow faint, drowned out by the sobering hum of global inflation.
However, not all bubbles burst. While many have traded their Champagne flutes for cozy mugs at home, the lavish shores of Mykonos and the candlelit corners of Parisian bistros still resonate with the clinks of the finest bubbly.
Yet, the numbers tell a tale of caution. A 3% dip in organic sales hints at the U.S. growing distant from its love affair with Cognac.
Guardians of bubbly lore, Comité Champagne, pour a prediction marked with restraint, seeing a 3.7% drop in their crystal ball for this year’s shipments.
Through Our Wine-tinted Glasses: The heady days of “revenge spending” might mirror a dance we knew too well. Yet, as we mull over the sparkling rush of 2022, perhaps spurred by whispers of scarcity, Schaus suggests a gentle drift back to familiar shores, albeit sped by inflating headwinds.
Still, amidst the shifting sands, certain gems glint promisingly. A nugget from Shanken News Daily reveals an enigma: while U.S. palates seemed less enthused with sparkling wines, those with a price tag twinkling above $10 continue their radiant ascent.
Dominating Prosecco titans La Marca (owned by the American E&J Gallo) and Mionetto (acquired by the German Henkell Freixenet) soar gracefully while the elegant Veuve Clicquot descends.
A Toast to Ponder
As the U.S. anticipates a gentle decline in its sparkling embrace, those premium bubbles priced north of a crisp $10 bill hint at a shimmering horizon. Last year, they danced into the limelight, growing a modest yet noteworthy 1.5%, casting a shadow three times their stature from two decades past.
In a world where premium spirits cast enchanting spells and economic winds blow uncertainly, the realm of sparkling wines holds a promise. The coming festive symphony might serenade a renewed love for those priced above $10, making them not just the belle of the ball but the darlings of everyday tales.
