The once-stubborn Australian dollar has fallen drastically against the greenback, and it means champagne — along with other luxury imports — are going to become more expensive.
And at least one bottle shop owner says he has noticed an increase in “executive types” preparing for the price-hike.
Phil Hude, the owner of boutique wine shop Armadale Cellars, told the Australian Financial Review this:
“I’ve noticed that with some clients who are having a dinner party, they’ll buy six bottles of French, six bottles of sparkling, they’re substituting.
“There has been a golden time for champagne, but now we expect to see a rough 5 to 10 per cent shift.
Recently I’ve had clients drink through their cellars, many CEO types, and they’ve come in and made fairly big hits lately, clearly the impending increase in prices has influenced this spending.”
Read more here.
NOW WATCH: Executive Life videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.