Champagne Demand Softens After Post-Covid Boom Years, LVMH Says
- Nightclub demand doing well but at-home consumption down
- LVMH’s Moët Hennessy CEO Philippe Schaus speaks to Bloomberg
Demand for LVMH’s Champagne brands is moderating this year after the boom that followed Covid-19 lockdowns, according to a top executive at the luxury conglomerate.
There was a “general sense of revenge pleasure,” in 2021 and 2022 after consumers were stuck at home, Moët Hennessy Chief Executive Officer Philippe Schaus said in an interview. The drinks and wines division he oversees generated about 7.5% of first-half revenue at parent company LVMH Moët Hennessy Louis Vuitton SE.