New York, NY, United States (AHN) – It appears that people are partying like it’s 1999.
Champagne sales are once again bubbling. In fact the French industry is set for a robust holiday season, and expects to show a significant increase from just two years ago when production was drastically cut as the global economy faced a downturn.
But this year, champagne makers are toasting a rebound. By the end of September, the industry had shipped 192 million bottles of the bubbly. Numbers for the fourth quarter, usually the strongest because they account for a third to half of annual sparkling wine sales, should show a big jump over last year.
The heavy hand with champagne pour is an overall reflection of the rebound in the luxury goods market in general. Luxury goods groups, including Neiman Marcus, Tiffany’s, LVHM Moet Hennessey Louis Vuitton and Hermes, have all posted stronger sales in 2011.
So raise your glass and savor the improvement, and hope it bodes well for 2012.