Moet Hennessy is running out of champagne as demand surges

Wealthy consumers continue to splurge on luxury goods despite inflation

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.

Champagne fans are so enthusiastic about exiting Covid restrictions, they’re drinking Moet Hennessy out of supply.

“We are running out of stock,” for some top champagnes, chief executive Philippe Schaus said in an interview with Bloomberg Television, adding that the current period has been dubbed the “roaring 20s” internally.