LVMH's Champagne Stocks Are Running Dry Amid Soaring Demand, Drinks Chief Says
15 11월 2022 - 5:28PM
Dow Jones News
--Supplies of champagne at Moet Hennessy are running out amid
soaring demand after the Covid-19 pandemic, Chief Executive
Philippe Schaus tells Bloomberg TV in an interview at the New
Economy Forum in Singapore.
--This year will be "a fabulous year for champagne", says Mr.
Schaus, leader of the wines & spirits division of French
luxury-goods giant LVMH Moet Hennessy Louis Vuitton SE. "We're
running out of stock on most of our best champagnes," he tells
Bloomberg, noting continuing pent-up demand for luxury goods since
the end of many pandemic restrictions.
--Supply will begin to be replenished next year, when Moet
Hennessy will also look at raising prices in the high-single to
low-double digits to offset increased costs, Mr. Schaus says.
Full story: https://bloom.bg/3Glv2y6
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
November 15, 2022 03:13 ET (08:13 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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