An inevitable shock wave is currently reverberating around the world following the decision by UK voters to leave the European Union last night.
With extensive client bases in both France and the UK, the very foundations of Le Verre Gourmand lie in our ‘dual nationality’ and we are particularly proud of this.
Following the outcome of the referendum, we thought it would be worth having a little sit down with one of LVG’s Directors to find out how the news has been received at LVG HQ and what the repercussions may be for the company, the industry and our clients. Adam duly obliged…
What does Brexit mean for LVG as a company?
Nothing has fundamentally changed here as a result of the referendum. It’s business as usual but at the same time we have to keep an eye on the longer term. The initial shockwave will inevitably affect the currency markets and consumer confidence but we hope that both will stabilize over time. Meanwhile, we will be continuing as normal here in the Alps, remaining focused on doing a great job with big smiles on our faces.
LVG is both a French SARL and UK limited company – will this make things complicated in the future?
We hope not. These are two separate companies, legally independent of each other so their fortunes are not tied together. There will be some short-term disruption in both countries as things settle but beyond that we’ll need to keep an eye on how the drinks and tourism industries react in the months that follow. As I mentioned before, we don’t anticipate any actual changes in the short term but will be keeping a close eye on UK-EU negotiations and currency markets as things play out.
And finally, the question on everyone’s lips – what do you think is going to happen to the price of wine?
Not much in France but the price of wine in the UK may well go up because of the effect on sterling. If the effect on currency is short term then many people will barely notice but I think that things will take a little longer to settle. We also anticipate more red tape in the UK making things trickier on the administrative front. Hopefully the currency markets will settle down but in the meantime, your favourite bottle of vino is likely to set you back a little bit more than yesterday.
The future may be uncertain but our goal is unchanged. We intend to continue to source exceptional wine for our clients and provide a level of service and delivery that we can be proud of.
In short, it’s business as usual here at LVG so…