Britain's champagne import crown slips as Brexit hits
22/12/2017 14:14
* British sales by volume to fall by 10 pct -lobby
* Buying hurt by weaker pound
* U.S. likely to take top spot
By Pascale Denis
PARIS, Dec 22 (Reuters) - Britain is set to lose its ranking
as the world's biggest importer of champagne, a French industry
lobby said, citing the impact of a weaker pound since the UK
voted to leave the European Union.
Sales to Britain are expected to fall by 10 percent this
year, the boss of the Union of Champagne Houses (UMC) said.
There was a 9 percent drop in volume in 2016 to 31.2 million
bottles, according to the CIVC industry association.
"With a slowing economy in Britain, people are less inclined
to spend on luxury products," UMC Chairman Jean-Marie Barillere
said in an interview this week.
The United States is likely to take top spot in volume and
already ranks number one by value, he said.
The British pound has lost 14 percent of its value against
the euro and 10 percent against the U.S. dollar since Britain
voted to leave the EU in June 2016.
UMC represents champagne brands including Moet & Chandon,
Veuve Clicquot and Ruinart, owned by the world's biggest luxury
group, LVMH LVMH.PA .
(Reporting by Pascale Denis; writing by Mathieu Rosemain;
editing by Jason Neely)
((Mathieu.Rosemain@thomsonreuters.com; +33 1 4949 5182; Reuters
Messaging: mathieu.rosemain.thomsonreuters.com@reuters.net;
Twitter: https://twitter.com/MathieuRosemain))
Keywords: BRITAIN EU/CHAMPAGNE SALES