World’s largest luxury products group LVMH saw its wines & spirits business organic revenue decline by 3% in the first nine months of 2014, according to a company press release dated 14th October 2014.

Total revenues of wines & spirits for the first 3 quarters of 2014 reached €2,625 million, versus €2,827 million in the the first 3 quarters of 2013.

However the champagne business continued to perform well, driven by strength in the American and Japanese markets, the press release indicates.

LVMH owns some of the top Champagne Houses including Moët & Chandon, Veuve Clicquot, Ruinart, Dom Pérignon and Krug.