LVMH's Champagne Stocks Are Running Dry Amid Soaring Demand, Drinks Chief Says

--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)

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