This chief executive says they are running low on stocks of some of their top champagnes.
In a Bloomberg Television interview at the New Economy Forum in Singapore, Moet Hennessy chief executive Philippe Schaus said that “we are running out of stock for some top champagnes.”
The Bloomberg article said that “Champagne fans are so enthusiastic about exiting Covid restrictions, they’re drinking Moet Hennessy out of supply.” Schaus adds that “the current period has been dubbed the “roaring 20s internally. There is good news on the horizon too, with the new year set to see supply replenished.”
According to the same report: “After an initial slump in the early days of the pandemic, the biggest names in luxury are reporting a spending frenzy as consumers unleash pent-up demand. LVMH Moet Hennessy Louis Vuitton SE managed to beat analyst estimates at four of its five main divisions in its most recent earnings, while Hermes International saw revenue surge 24%, excluding currency swings, despite increasing a raft of product prices.”
Banner photo via Instagram @moethennessy.