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In tangible terms, the quantity of supplies declined by a more moderate 4.2%, reaching 154.6 million bottles.
BNIC observes that the decrease in value surpassed that in volume, as consumers are increasingly opting for younger and more affordable cognac varieties, which supply rose by 2.6%. The sales volumes of the luxury VSOP and XO categories decreased by 11.3% and 12.9%, respectively.
Exports to China decreased by 24.4% year-on-year because of the implementation of tariffs on cognac imports into the nation. In July, key suppliers had their duties suspended.
Revenue decreased by 4.6% in North America and by 11% in Europe.
Exports to foreign nations rose by 19.9% in terms of volume, as manufacturers aimed to diversify their income streams and lessen reliance on the US and China. Nonetheless, this segment is still quite limited at the moment - shipments totaled just 17.5 million bottles.
source: marketwatch.com
BNIC observes that the decrease in value surpassed that in volume, as consumers are increasingly opting for younger and more affordable cognac varieties, which supply rose by 2.6%. The sales volumes of the luxury VSOP and XO categories decreased by 11.3% and 12.9%, respectively.
Exports to China decreased by 24.4% year-on-year because of the implementation of tariffs on cognac imports into the nation. In July, key suppliers had their duties suspended.
Revenue decreased by 4.6% in North America and by 11% in Europe.
Exports to foreign nations rose by 19.9% in terms of volume, as manufacturers aimed to diversify their income streams and lessen reliance on the US and China. Nonetheless, this segment is still quite limited at the moment - shipments totaled just 17.5 million bottles.
source: marketwatch.com
