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‪Despite outstanding economic performances in the past, the champagne industry has not benefited from the dynamism of the sparkling wine market over the last ten years. In a much tougher competitive context, champagne sales have been slowing down in volume, and the growers are those most impacted by this situation. Their economic profitability is threatened by the slowdown in sales downstream in the industry, but also by a decrease in their operating margin due to the combination of lower yields at harvest and a growing capital intensity in the sector resulting from large increases in land prices and inventory value. This new situation implies a necessary evolution of their economic model. ‪