France has record 2007. This year not looking so great

France’s wine and spirit industry had a record 2007 with triple digit surges in the Chinese market and extraordinary sales from the Champagne region. Nearly $13.8 billion worth of wine and spirits was exported in 2007 marking a 7 percent increase over the previous year. Sales into China more than doubled to nearly $365 million largely because French wines are considered the most prestigious by the Chinese. Pictured is a map of France with the Champagne region coloured in red. champagne_map.jpg

2008 doesn’t look like its going to be as rosy a year though according to the International Herald Tribune. The strong euro is going to hurt exports as French wines get even more expensive and face increasing pressure from the US and Australian players. What’s the learning for the Indians in this? The government needs to invest in building the Indian wine brand and in turn, the local wine-makers need to continuously focus on quality.

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