Champagne supplier Vranken-Pommery Monopole Group saw its annual sales fall more than 10% in 2024 during a challenging year for the industry.
The company posted a 10.5% decline in consolidated sales for 2024 to €302.9m ($315.9m).
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The maker of Heidsieck & Co Monopole Champagne pointed to the context of declining volumes in the sector and lower harvest yields.
Last week, trade body Comité Champagne said sector-wide sales volumes fell by more than 9% last year, declining at home and abroad.
Poor weather meant the regions in which Vranken-Pommery is present saw yields drop by 30% to 40% compared to 2023, the company said.
The group, which also markets other sparkling wines and Port, saw its Champagne sales fall 9.5% to €263.2m.
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By GlobalDataFrance made up a third of Vranken-Pommery’s sales. Outside its domestic market, the company said most were “down” but it saw growth in the Benelux and Australia. It described its North American sales as “stable” year on year.
In July, the group adopted a more selective approach to distribution, reducing exposure to lower-profit cuvées.
Restating its sales for the move meant Vranken-Pommery’s Champagne sales fell 5.7% versus 2023, it said.
Furthermore, the introduction of premium cuvées, such as Pommery & Greno’s Apanage Brut 1874, supported the company’s premiumisation efforts, contributing to an improved average Champagne price.
Sales from Vranken-Pommery’s Wines division dropped 20.1%, with the company citing poor summer weather.
The group’s sales of Port and Douro wines declined 18.4% reduction in sales, with “strong international growth” failing to offset lower sales in France and the EU.
In December, Vranken-Pommery Monopole promoted deputy CEO Nathalie Vranken to CEO, replacing her husband Paul-François Vranken.
