Veuve Clicquot, owned by LVMH, is exploring new markets in Africa as demand for premium products rises.
- The champagne maker is considering expanding to East Africa or Ghana to boost its African presence.
- South Africa is currently Veuve Clicquot’s biggest market in Africa, representing its 22nd biggest export market globally.
- The company benefits from South Africa’s “love for big brands” and will focus on retaining its market leader position.
- South Africa accounts for 90% of Veuve Clicquot’s sales in Africa and sits in the company’s top 10 global markets.
- To keep market share in South Africa, Veuve Clicquot may pause or reduce future price increases after recent hikes led to some customer backlash.
- Africa has the youngest population in the world, with 2/3 of sub-Saharan Africa under age 30.
- Veuve Clicquot already sells in South Africa, Nigeria, Tunisia, Morocco and Algeria.