Moët Hennessy Announces the Worst: It’s Running Out of Champagne

Due to surging demand and extreme weather conditions, Champagne is drying up. Photo: Alan Crowhurst / Stringer

The company behind Moët & Chandon, Krug, Dom Pérignon and Veuve Clicquot has announced that it is “running out of stock” of Champagne, an ominous warning in the run-up to Christmas.

Moët Hennessey CEO Phillipe Schaus told spectators at a press conference in Singapore that the company’s supply hasn’t been able to keep up with rapidly increasing demand over the past two years.

“As people are coming out of Covid there’s been pent-up demand for luxury, enjoyment and traveling,” Schaus said.

Schaus said that the phenomenon is being referred to internally within the company as the “roaring 20s,” though he didn’t specify how low stocks or running nor which of its several brands might be most affected.

However, Schaus’ statement only reveals part of the story.

While it’s true that champagne demand is soaring – having seen revenue growth in the double digits during the third quarter of 2022 –  there are more factors at play.

Extreme weather in France is reported to have reduced the 2021 Champagne crop by as much as 50% to 60%.

As a result, 2021 was said to bear the lowest crop yields in the region since 1981.

Depending on just how bad the issue turns out to be, you may have to try your best to save every drop of Champagne this holiday season. Yes, that means putting down the saber and cutting down on champagne showers.

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