Published by
Business Daily
Business Daily
Kenyans are now spending a fortune on fine wine and champagne as an investment, joining the rest of the world that stores wealth in luxury collectibles. Last year was a particularly good time for luxury beverage makers, with global consumption and investment demand for wine (Burgundy) and champagne rising to 25 and 31 percent respectively. In Kenya, like in the rest of the world, more people are drinking expensive wine, including rare vintages, during the pandemic than they were before, contrary to fears of a demand slump in 2020. There is also a new wave of investment coming into the new wine…