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How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Get precise stock market predictions and free access to real-time market data for efficient decision-making and portfolio growth. The hotel’s director of food and beverage, Nicolas Caupain, is a self-confessed champagne aficionado, and designed the bar concept to allow guests to experience champagne “not just as celebratory wine but as a nice wine which you can enjoy every day,” he says.
It’s an unusual concept for Dubai. The Emirate has a complicated relationship with alcohol: in Islam, the official religion of the United Arab Emirates, alcohol consumption is prohibited. However, the city’s diverse, expat-heavy population and its push to grow its tourism sector has seen many of its alcohol laws relaxed in recent years, includingdecriminalizing alcohol in 2020andscrapping its 30% alcohol sales taxlast year, although Muslims are still prohibited from acquiring a license to buy alcohol.
How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Expert analysis of global stock trends, futures data, and real-time stock market quotes to help you plan your next investment move. While the city has over 13,000 restaurants, its bar scene has largely been confined to Michelin fine dining, nightclubs, and boozy brunches. Venues that emphasize the design and diversity of their drinks menus are few and far between.
But Caupain believes “there is a market in Dubai who are looking for this level of refinement and discovery,” and that High Society is part of a movement towards casual drinking venues.
Unlike other wines, champagne undergoes asecond fermentationin the bottle, which gives it its signature fizz, making “every champagne different,” Caupain adds. Champagne isleft to maturefor at least 15 months, although vintages are left for up to 10 years. This unusual process creates a vast range of flavor profiles, exemplified by High Society’s 118 labels and extensive “by the glass”menu — one of the largest collections in the UAE, claims Caupain.
High Society’s collection ranges from well-known champagne houses like Pol Roger (the favored champagne of Queen Elizabeth II and Winston Churchill) to artisanal-like “grower champagnes” Egly Ouriet, Larmandier Bernier, and Ulysse Collin.
How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Free real-time global stock trend updates to help you capture market movements and make better investment decisions. As the name suggests, these lesser-known labels are small-scale champagne producers that grow their own grapes — and they are surging in popularity globally, says Samuel Lacroix, wine director atAl Muntaha, a Michelin-starred European fine-dining restaurant at the iconic Burj Al Arab hotel.
How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Professional investment advice with real-time updates on stock indices and futures data. Stay ahead with expert predictions and market insights. Al Muntaha, which was recognized by Star Wine List as having thebest sparkling wine listin the UAE earlier this year, has 166 labels on its champagne list, including around 60 recently added grower champagnes, says Lacroix. Dubai’s changing demographic, which in the past two years has included an influx of business elite and professionals attracted by the Emirate’s golden visa, is pushing the city’s food and beverage scene to compete with other international cities, he says, adding: “The clientele is getting more refined.”
How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Free break-even services and stock analysis to help you recover quickly from losses and increase your chances of making profitable investments. The UAE already dominates for its wine selection in a region that generally hasrestrictive alcohol laws— in 2022, it was the largest importer of champagne in the Middle East and Africa, according to data from theComité Champagnetrade association, importing nearly three times as many bottles as the rest of the Arabian Peninsula combined — but suppliers favor the big champagne houses, which are easier to buy in bulk, says Lacroix. However, as more world-class sommeliers and chefs descend on the city, they’re bringing with them preferences for more unique products and culinary experiences.
“To have all of these champagne names here, I think that we’re getting into the big leagues in the champagne world,” says Lacroix.
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Even Dubai’s national airline, Emirates, is on board with the city’s penchant for fizz: inDecember 2022it became the only commercial airline in the world officially serving Moët & Chandon, Veuve Clicquot and Dom Pérignon onboard and claims it purchases more champagne than any other airline in the world.
How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Expert predictions on stock market movements with real-time data, ensuring you can make quick decisions and capture market opportunities. Award bodies are also beginning to pay attention to the region: Gault&Millau, a French dining guide, opened its UAE office in Dubai in 2022, launching theUAE Champagne indexthe same year; and just last month, Star Wine List, a Swedish publication, launched its inaugural awards for the UAE. For both awards, the majority of winners and nominees were located in Dubai.
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“This more relaxed setting of sharing wine, it’s not really present yet — whereas if you’re in Paris, London, New York, (wine bars) are really where things are happening,” says Bengtsson, adding that new venues like High Society could help create a “casual wine culture” that emphasizes the drinks rather than food.
“It’s interesting to see a lot of good wines and champagnes by the glass at unusually lower prices in the Dubai market, to allow people to taste the wines,” says Bengtsson.
How is the market cap and valuation of Shree Metalloys Limited (531962) ✌️【Investment Expert】✌️ Free stock selection service with expert predictions and real-time market insights, providing you with the best investment strategies for long-term success. The growing interest in artisanal labels is also “adding a new layer of perspective both for wine lovers and restaurants,” and “putting pressure on the importers to add more diversity and smaller scale to their portfolio,” Bengtsson adds — all things that are pushing the city’s drinks scene to evolve.
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“Our pricing strategy is made for people to keep coming back — come on a Tuesday with friends, come back with a partner on a Thursday, or a business partner on the weekends,” says Caupain, adding: “We want to make a lifestyle destination.”
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