Moët Hennessy CEO Philippe Schaus has told Bloomberg that the company is running out of some of its top champagnes as the world celebrates ‘the roaring 20s”.
As Fortune notes: “Driven by recovery in the aftermath of World War I, the Roaring Twenties was a period of economic growth fueled partly by the rapid rise of technology and the transition to a free market economy. It’s also remembered as a period of excess, commonly associated with overflowing Champagne flutes, flapper dresses, and raging parties.
“So despite the current faltering economic state of high inflation, rising interest rates, and warnings of a looming recession, people—or those who can afford a bottle that starts at around $60—seem to be celebrating.”
Moët Hennessy – which owns brands including Dom Pérignon, Moët & Chandon and Veuve Clicquot – is experiencing record sales as champagne fans around the globe celebrate the end of COVID-19 lockdowns and restrictions.
Wine Business International reports that thirsty US wine drinkers popped 69% more champagne corks in 2021. Earlier this year, the Guardian reported soaring sales of champagne in City of London wine bars as bankers celebrated the biggest bonus season since before the 2008 global financial crisis.
Overall, champagne and wine sales were up 32% in the first nine months of 2022 compared with 2021.
“We are running out of stock on our best champagnes. As people are coming out of Covid there’s been pent up demand for luxury, enjoyment and travelling,” Schaus said.
Moët & Chandon celebrates Christmas in Sydney with ‘Effervescence’
For the second year in a row, Moët & Chandon will present a magical display of ‘Effervescence’ and unmissable parties around the world – sharing the joy of togetherness in more than 20 cities – and Sydney will once again lead the global celebration.
Launching on 1 December, Moët & Chandon will celebrate the season with a custom-built immersive destination open to Moët & Chandon fans for three days only.
With a Moët Mini in hand, guests will have the opportunity to explore the world of Moët & Chandon Effervescence, entering through the Eternal Effervescence room, exploring the Cellars of Moët and encountering a giant gold bubble – symbolizing the essence of Effervescence – before travelling up a giant golden staircase to the upper floor. There they will enjoy views of Sydney Harbour. On offer will be elegant food and champagne pairings, curated entertainment and theatrical performances and photo opportunities.
Details and bookings at https://shop-au.moet.com/pages/moet-effervescence