Lower Chinese export for French wine and liquor

Lower Chinese export for French wine and liquor

French wine and liquor sales abroad have dropped 2.8 % last year, both in value and volume. The major cause was a stricter anti-corruption policy in China, that made Chinese export drop 17 %.

Export down to 10.8 billion euro

In 2014, France exported 10.8 billion euros worth of wine and liquor, according to the Fédération des Exportateurs de Vins et Spiritueux français (FEVS), which is nearly 3 % lower than the year before.

 

Christophe Navarre, head of the FEVS, remains upbeat about the performance: "This is the third best performance ever in the history of the wine and liquor branch and the fourth year in a row we have surpassed the 10 billion euro mark."

 

Chinese sales fall back

The United States are still France's most important export market, with a 4 % turnover growth in 2014. Its European performance is holding steady, with decent numbers for Germany and Sweden and growth once more for Italy and Spain. Eastern European export has suffered under the Ukrainian crisis and the faltering ruble.

 

Export to Belgium remained stable and the small country is still France's sixth most important export region. In total, France exported 596 million euros worth of wine and liquor to Belgium.

 

Chinese exports have suffered tremendously because the local government has been fighting corruption for several years now and that means that giving away (French) high-quality drinks has been restricted. That has resulted in a 17.4 % turnover drop, down to 681 million euro. Chinese turnover had already suffered a similar drop in 2013, down 18 %.

Questions or comments? Please feel free to contact the editors


Gucci files lawsuit against Forever 21

09/08/2017

Fashion label Gucci has decided to file a lawsuit against fashion chain Forever 21 in the United States. According to the plaintiff, the chain copied a very specific design.

Ralph Lauren outperforms expectations

08/08/2017

Fashion label Ralph Lauren’s first quarter was a very good one, as it beat both analysts’ turnover and profit forecasts. It is quite a turnaround for a company that suffered a huge loss only a year ago.

Difficult first quarter for New Look

08/08/2017

British fashion chain New Look’s past quarter was disappointing with a 4 % turnover drop. Its adjusted EBITDA fared much worse, with a 35 % drop.

ING forced to pay Foot Locker compensation

07/08/2017

Dutch ING Bank will have to pay the Dutch and European Foot Locker branches a 300,000 euro in damages. A court decided the fee after Foot Locker was scammed for 1.8 million euro in 2015.

Asics opens its largest store yet in London

04/08/2017

Sports brand Asics opened a new flagship store in London, which is also its largest store in the world. Located in Regent Street, the store will bring together its four labels for the first time ever.

Dutch clothing brand Tumble ’N Dry heads to China

04/08/2017

Dutch clothing brand Tumble ’N Dry will head to China in September, with its own web shop on Alibaba subsidiary, Tmall. It will become the first non-European market for the brand.

Back to top