By Katy Thornton
Some people did not get the memo that the boom, is in fact, not back.
Despite the incredibly difficult economic climate we are currently living in, Moet Hennessy is actually facing a champagne shortage because of increased demand.
In an interview with Bloomberg, Chief Executive Philippe Schaus said, “we are running out of stock” this side of Christmas. Schaus cited that 2022 has been a fabulous year for champagne. For all the champagne guzzling people out there however, not to worry. They are likely to be fully replenished in the New Year.
According to Bloomberg, “the biggest names in luxury are reporting a spending frenzy as consumers unleash pent-up demand” following over two years of covid restrictions and guidelines. Schaus also told Bloomberg that the increased demand resembles something of the roaring 20s, despite the major cost of living crisis and hyper inflation.
With everything else going on, I don’t know how we’re going to deal with a Moet champagne shortage as well. When it rains it pours as they say.
You can watch the whole interview HERE.
Header image via Instagram/moetchandon
