Firm behind Moët Hails New ‘Roaring 20s’ as Wealthy Drain Stocks of Champagne

THE GUARDIAN: Company behind premium champagne brands says there is ‘pent-up demand for luxury’

Analysts expect the boom in luxury goods to continue as rich people spend the £2.5tn saved up during the pandemic. Photograph: François Nascimbeni/AFP/Getty
The company behind Moët & Chandon, Veuve Clicquot, Krug and Dom Pérignon has said it is “running out of stock on our best champagnes” as the wealthy spend big on luxury goods in a new “roaring 20s” age of decadence.

Working Britons may have suffered the bigges slump in living standards since records began in the 1950s, but according to the head of LVMH’s wines and spirits division, “pent-up demand” following the easing of coronavirus restrictions has prompted a run on the finest fizz.

The chief executive of Moët Hennessy, Philippe Schaus, said 2022 would be “a fabulous year” for its champagne – which starts at about £40 a bottle and can runs into the thousands – as evidenced by stocks running low in the company’s network of cellars that stretch for 17 miles under the town of Epernay in France’s Champagne region. » | Rupert Neate, Wealth correspondent | Tuesday, November 15, 2022