Champagne sales are tanking. An LVMH exec thinks people aren't happy enough to pop bottles.

• LVMH's Champagne shipments were down 15% in the first six months of the year, compared with 2023.
• CFO Jean-Jacques Guiony theorized that consumers aren't happy enough to celebrate with Champagne.
• Champagne sales around the world have dropped since 2022.

LVMH is having Champagne problems. Chief financial officer Jean-Jacques Guiony thinks it could come from fewer celebrations for people to pop the bottle.

The company sold 15% fewer Champagne bottles in the first half of the year, compared to the same period last year, per LVMH's Tuesday earnings report. Meanwhile, still and sparkling wine sales were up 16%.