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Some of the Moët Hennessy Group's best champagnes may be unavailable in the run-up to Christmas. This was explained by its CEO Philippe Schaus in an interview with Bloomberg Television. However, he did not specify which of the brands such as Moët & Chandon, Krug, Dom Pérignon, Ruinart or Veuve Clicquot might be affected by the shortage.
"As people come out of covid restraint, there is pent-up demand for luxury, indulgence and travel," Schaus explained, adding Moët Hennessy staff would refer to the period this autumn as "the Roaring 20s". The wine and spirits division of luxury goods group LVMH recently reported double-digit sales growth, with champagne a key driver of this development. The strength of the US dollar has also encouraged American shoppers to buy more luxury goods while travelling in Europe, it said. But consumer demand in general had "risen sharply". Inflation and rising raw material costs could soon push up the prices of some champagnes and wines.
Similar reports about supply problems for champagne were circulated by industry representatives about a year ago. The shortage did not materialise later, however.
(al / Source: drinksbusiness; Photo: moet.com)
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