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Americans Say "Non!" to Champagne
The global recession has been a disaster for producers of champagne, a symbol of affluence and celebration that is seen as too expensive and out of place in tight times. Exports of the sparkling wine, produced in the northern French region of the same name, fell 28 percent last year to $1.6 billion euros.
Overall, French wine and spirit exports had their worst year ever, as American and British consumers switched to cheaper brands, the BBC said. The export of wine and spirits declined 17 percent last year to $7.74 billion euros, or $10.5 billion. There was one exception. Vodka sales rose, mostly due to the popularity of France's Grey Goose vodka brand in the U.S. French vodka exports rose 13.7 percent.
The Federation of French Wine and Spirits Exporters is more optimistic for 2010. It expects a rebound in exports.
The recession has been tough on the alcohol sales overall, which have proven to be anything but recession proof. Even beer sales are down. Now that is a sign that times are really hard.
Steve Rosenbush is the blogs/industry editor for Portfolio.com.
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