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Champagne sees fizz return
Champagne makers Remy Cointreau and Vranken-Pommery Monopole have posted quarterly sales growth, signalling customers were returning to high-end brands after a lull during the financial crisis. Remy Cointreau, which makes Piper-Heidsieck champagne, said sales of champagne rose 23 per cent to £14m in its fiscal first quarter to 30 June. Vranken-Pommery said sales rose 52 per cent to 66m in the quarter. Chairman Paul-Francois Vranken said: “Because of the crisis, consumers temporarily switched to cheaper brands. This phenomenon is now receding. We’re seeing a move back to the major brands and cuvees de prestige.”