The quality
of people

Sébastien Cocteau, you are Director of the Vineyards of Laurent-Perrier, can you tell us about the last viticultural year that led up the 2025 harvest?

The 2025 wine-growing year in Champagne confirmed the trend observed in recent years: an early growing season, marked by contrasting weather conditions, yet successfully managed thanks to the heightened vigilance of the teams at Laurent-Perrier. Following a mild winter, budbreak occurred early, with an average date of around 4th April, nearly one week ahead of the ten-year average. April, characterised by alternating cool weather and occasional rainfall, slightly slowed vegetative growth, thereby limiting the risk of spring frost on the lower slopes.

Thanks to a sunny May, growth resumed at a steady and consistent pace, with good vegetative development throughout two-thirds of the month. However, a cold snap at the end of May slowed flowering in some areas, mainly affecting the Chardonnay. Although slowed, flowering was not halted, but yield potential was negatively affected (flower drop and small berry size) in the earliest-ripening vineyards. The average flowering date across all grape varieties and areas was 4th June.

Veraison began in the first week of August and progressed at a rapid pace. The heatwave in early August significantly accelerated this phase, resulting in very early ripening. Although a slight delay in colour change was initially observed, the first ripeness checks had shown that berry softening was already well underway, indicating that the vine’s physiological transition had effectively taken place. The 2025 vintage will ultimately be marked by an unprecedented rate of daily sugar content accumulation.

Just 81 days after full flowering, the 2025 harvest began in the second half of August, around 24th August for Laurent-Perrier. The grapes were in excellent sanitary condition, and their high level of ripeness provided a high-quality raw material. However, yields are at times disappointing and uneven, particularly for the Chardonnay.
This is due to two factors: firstly, the poor floral initiation during the 2024 growing season (potential number of bunches per vine), and secondly, the occurrence of coulure and millerandage during the 2025 flowering period.

With your experience in Champagne and at Laurent-Perrier, what is the evolution of the vineyard management, up to the harvest? How does climate change influence and how does it translate throughout the year?

Changes to viticultural practices at the Laurent-Perrier vineyards serve a dual purpose: to preserve the identity of Champagne and to adapt our methods to new climatic realities. The trend is towards increasingly sustainable precision viticulture, where every intervention is tailored using phenological monitoring tools, predictive weather forecasts and field observations.

We are increasing soil cultivation to encourage deep root growth, limiting the use of plant protection products through preventive measures such as early leaf removal, and promoting carefully managed ground cover to regulate water and nitrogen levels.

More broadly, climate change is leading to earlier budbreak, thereby exposing vines to a greater risk of spring frost, as well as accelerating ripening phases (as in 2025) and, at times, causing summer water stress.

Climate change is therefore driving us to fundamentally transform our approach to vineyard management, moving toward a more refined, adaptive, and demanding form of viticulture dedicated to consistent quality.

How did the USA market fare in 2025-2026?

Laurent-Perrier US delivered a strong performance in Champagne’s largest export market in F26. Sales grew by +12% despite the total US champagne shipments declining by -3.4% in 2025 according to the CIVC. This decline follows +2.8% growth recorded in 2024, although that figure was likely influenced by accelerated shipments to the US ahead of anticipated tariffs.

Nationwide champagne depletions grew at the modest rate of +1.5% in 2025 according to industry data provider SipSource. Laurent-Perrier significantly outpaced the market, posting depletions growth of over 16% for the same period. This resulted in an increase in market share from 2.7% to 3.2%. Distribution continued to expand, with the brand surpassing 11,000 active accounts for the fiscal year.

How are the premium cuvées progressing on your zone?

The strength of the brand in Nielsen-tracked off-trade consumer pull-through data was remarkable in F26. While the category was flat, Laurent-Perrier’s volume in the segment increased by 14%. This growth was not limited to “La Cuvée”; Cuvée Rosé, Blanc de Blancs Brut Nature, and Grande Siècle all grew in both share and absolute volume.

Market share of Cuvée Rosé in the off-trade segment reached 5% despite greater softness in that category compared to champagne overall.

How do you see the future?

Our strong F26 performance validates the investments made in our brand and commercial organization in prior years.

Looking ahead to F27, we plan to continue advertising and marketing expenditures that have contributed to the brand’s growth. Laurent-Perrier's partnerships with Michelin-starred restaurants Alinea and Gracious Hospitality exemplify our continued commitment to associating the brand with the highest levels of gastronomy.

Declining sales in the overall US wine market, particularly of low-priced wines, led to rapid distributor closures and consolidation in F26 that is expected to continue.

Laurent-Perrier will be largely insulated from this situation thanks to our long-term contractual relationship with major national distribution partner Winebow, which focuses on premium and high-end wines.

Tariffs ranging from 10-15% were applied to all Champagne shipments to the US from April 2025 through February 2026. While these payments will eventually be refunded following the decision of the US Supreme Court, new tariffs of 10% went into effect at the end of February 2026. These are expected to last until July 2026, although they are currently being challenged in court. Negotiations between the EU and the US regarding a long-term trade agreement remain ongoing. While the uncertainly surrounding this subject clouds our future view, Laurent-Perrier is entering F27 with low inventory levels across channels and the momentum of continued market share growth.

How did the zone Africa, Middle East, India and Australasia fare in 2025-2026?

The zone is divided in four big business units, Africa, the Middle East, the Indian subcontinent and Australasia (Australia, Oceania and New Zealand), the dynamics are very varied in 2025-2026. Their heterogeneity requires a clear distinction to adapt our methods of intervention to each market.

In Africa, the House of Laurent-Perrier has shown a remarkable resilience despite the macroeconomic context and the unstable politics. French-speaking countries allowed stabilising the volumes, even during sensitive electoral periods, while English-speaking countries, especially Nigeria and South Africa, have shown high performance, confirming the House's position as the third player in the market. In the Middle East, despite fiscal pressure and geopolitical uncertainties, Laurent-Perrier has overperformed on an overall declining market, supported by an influx of expatriates and the gradual opening of new segments such as Saudi Arabia and the development of leisure activities in Dubai.

The Indian subcontinent remains structurally limited by a high taxation and a consumption mainly oriented toward local sparkling wines, but tourist archipelagos like the Maldives and the Seychelles represent strategic showcases. Finally, in Australasia, the review of the distribution model and the strengthening of local partners' expertise have allowed Australia to return to robust growth dynamics, recording a significant increase in sales. Overall, the House's differentiated strategy has made it possible to turn heterogeneous contexts into performance levers and to stabilise markets despite their volatility.

How are the premium cuvées progressing on your zone?

Premium cuvées are progressing in a solid way in the entire zone. In Africa, although consumption remains mainly oriented toward categories of Brut and Demi-sec, the demographic evolution and the growth of a superior middle class, point to a gradual transition toward Prestige Cuvées.

In the Middle East, Cuvée Rosé keeps its position of regional leader, and the House focuses its efforts on the Ecussons and Grand Siècle ranges, taking advantage of a high purchasing power and a growing demand for premium products. In the Indian subcontinent, despite limited volumes, training initiatives and support for the HORECA network are helping to promote premium cuvées and are preparing the market for a wider adoption of Prestige Cuvées by 2027. In Australasia, the consumer’s education remains an essential to develop the acknowledgement of premium cuvées in a market dominated by “La Cuvée”. In every business unit, the House is consolidating its ranges premiumisation and reinforces the image of its products.

How do you see the future?

The future appears positive but requires a different approach depending on the market.

In Africa, and in the Middle East, the strength of market positions and premiumisation offer prospects for sustainable growth driven by demographic potential and growing interest in Prestige Cuvées. In the Indian subcontinent, the opening of the market planned for 2027 and the investments in the HORECA network should allow a significative development in the not-so-distant future. In Australasia, the optimisation of distribution and the consumers’ education are key to maintain the dynamic growth. Overall, Laurent-Perrier is well positioned to capitalise on these opportunities, to strengthen its position of a leader and guarantee the premiumisation in an uncertain international context. Operational adaptability and structured investments ensure a sustained growth and a strong international presence.