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For the brand new 12 months, one among my todos was to examine the opposite two listed Champagne Homes in France, Vranken-Pommery and Lanson BCC.
As I discussed within the unique publish, my essential motivation to purchase Laurent Perrier was that it’s identify at all times confirmed up once I regarded up Gerard Perrier.
Utilizing TIKR as a fast comparability device, one can see, that the 2 different gamers; Vranken-Pommery and Lanson-BCC commerce at even decrease PEs than Laurent Perrier:
Financials
Nonetheless, we will additionally see that the opposite gamers are way more indebted that Laurent Perrier. The subsequent desk that I’ve compiled from TIKR numbers exhibits that Laurent Perrier ist each, extra worthwhile advert rather a lot much less indebted than the oher two:
One may argue that the potetnial of Vranken-Pommery might be larger in the event that they handle to enhance their margins. Nonetheless their EBIT margin is at the moment on the 15 12 months common and was solely higher some 20 years in the past. I truthfully don’t absolutely perceive why their margins are a lot decrease than Laurent Perrier’s (and Lanson’s), however I’m not certain whether it is value discovering out. The excessive debt load additionally inserts some existentia danger into this companies if, for some motive, they’d have a very dangerous 12 months or two.
lso the ten yearchart exhibits a transparent image: Over then years, Laurent Perrier (black) outperformed its friends clearly.
Logos
My last, subjective standards could be the Emblem. Listed here are the three logos:
I’m perhaps biased right here, however for my, solely Laurent Perrier’s brand has actual class. The opposite logos look extra like logos for fireworks.
Style:
One factor I cannot focus on right here is style. I did a Champagne tasting as soon as and I used to be stunned how completely different completely different manufacturers of Champagne are literally tasting. Nonetheless, style is a really subjective factor and I’m not certain what quantity of Champagne is definitely purchased for style. Myself, I solely drink Champagne very occaionally, perhaps annually so I’m undoubtedly not certified to provide you with an opinion right here. Even worse, personally, I do really want Prosecco if I’d have the selection. Significantly better worth for cash.
Abstract:
This was clearly not a deep dive and as talked about, my Laurent Perrier place is barely a small place for me that I personal extra for enjoyable. It’s nevertheless fascinating to see that primarily based on a few KPI’s, Laurent Perrier appears significantly better than the opposite two “pure play” listed Champagne homes. Due to this fact I’ll follow LAurent Perrier in the intervening time…
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