Champagne Maker Veuve Clicquot To Expand To Kenya

Champagne maker Veuve Clicquot has announced plans to expand to Kenya amid growing demand for premium products.

Veuve Clicquot, Chief Executive Officer, Jean-Marc Gallot, told Bloomberg TV that it is considering expanding to Kenya, Tanzania, and West Africa.

The second-richest person in the world, Bernard Arnault & family, owns the luxury company LVMH, which includes Veuve Clicquot as a part of its portfolio.

Forbes estimates that Arnault and his family are worth $222.5 billion, just $22.5 billion less than Elon Musk, the richest person in the world with a net worth of $239.9 billion.

Among the well-known brands under LVMH are Dior, Louis Vuitton, Sephora, and TAG Heuer.

Currently, the winemaker offers its goods in South Africa, Alegria, Nigeria, Tunisia, and Morocco.

Big businesses now have a chance to capitalise on the continent of Africa's growing middle class and wealth.

Additionally, because of its sizable young population, businesses can tap into markets outside of their norm.