Many of us may be facing a cost-of-living crisis but that hasn’t stopped some wealthier members of society drinking stocks of fizz dry as they let their hair down post-pandemic.
Moët Hennessy CEO Philippe Schaus says stocks of some of the company’s top champagnes – such as Moët & Chandon, Dom Pérignon and Veuve Clicquot – are running low as the rich demand a return to luxurious living.
“As people are coming out of Covid there’s been pent up demand for luxury, enjoyment and travelling,” Schaus told Bloombery TV. He said the hike in demand had been so high, the firm was calling it the ‘Roaring Twenties’, in reference to the period of decadence 100 years ago which came on the back of privations of the First World War and the Spanish Flu.
LVMH Moët Hennessy Louis Vuitton is the world’s leading high-quality products group. It recorded a revenue of €36.7bn in the first half of 2022, up 28% compared to the same period in 2021.