Firm behind Moët hails new ‘roaring 20s’ as wealthy drain stocks of champagne

Analysts expect the boom in luxury goods to continue as rich people spend the £2.5tn saved up during the pandemic. Photograph: François Nascimbeni/AFP/Getty

The company behind Moët & Chandon, Veuve Clicquot, Krug and Dom Pérignon has said it is “running out of stock on our best champagnes” as the wealthy spend big on luxury goods in a new “roaring 20s” age of decadence.

Working Britons may have suffered the biggest slump in living standards since records began in the 1950s, but according to the head of LVMH’s wines and spirits division, “pent-up demand” following the easing of coronavirus restrictions has prompted a run on the finest fizz.