Laurent Perrier See Champagne Sales Go Flat

France's fourth-largest Champagne house Laurent-Perrier has reported a 45% drop in net profits for the 12 months to end of March on the back of 27% decline in revenues to EUR181mn (US$257mn). The fall in sales has been attributed to a softening of the global Champagne market and can also be traced to a strategy of reducing distribution and increasing prices to increase the luxury positioning of the Laurent-Perrier brand.

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