Americans are drinking lots of champagne and cognac ...Middle East

Quartz - Economy
Americans are drinking lots of champagne and cognac
source : Quartz ( Middle East ) () 16
Americans may be known to love a cold beer, but lots of them are also sipping champagne or cognac as they ride out the pandemic.One company taking advantage of Americans’ refined tastes is French luxury giant LVMH, owner of brands including Moët and Hennessy. “We benefited there from a brilliant cognac market,” Jean Jacques Guiony, LVMH’s chief financial officer, said on a call with investors and analysts today. “We could certainly sell more if we had more bottles.”Guiony said LVMH has been selling cognac in the US as fast as it can bottle it for some time, and sales of champagne have been strong too. Its champagne inventory in the US started to run low at the end of last year, so as retaile

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