Drink More Champagne, S'il Vous Plaît

The weak Euro is great news for purveyors of bubbly.
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All of the good stuff on U.S. retail shelves was paid for six months ago. And by the time stores have to replenish their stocks, producers will have raised prices enough to make up for the euro’s little slide. Long story short, your Champagne isn’t getting any cheaper. The French expect you’ll buy more of it anyway.

Already, a strong economy and surging consumer confidence is boosting sales of Champagne in the U.S. But the euro, which has slid to a 12-year low against the dollar, has producers of the French bubbly especially giddy. “We’re happy because this helps our profit margins,” said Frédéric Rouzaud, managing director at Louis Roederer, the Champagne house behind the Cristal label, who expects to spend more on marketing this year in the U.S. [...] “The dollar will really help Champagne’s development in the U.S.,” said Patrick Renaux, winemaker at Champagne Soutiran. “Americans already know Champagne, so we see it as a signal that right now is a good opportunity for us….” “We’re seeing a growing trend in the U.S., and the market potential is still immense,” said Thibault Le Mailloux, a spokesman for the organization.

Champagne Makers See Opportunity in Weak Euro [WSJ]

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