Wealthy are drinking us dry, says luxury goods firm LVMH

Moet Hennessy predicts fabulous year' for its champagne, with strongest growth in Europe and US

The company behind Moet & Chandon, Veuve Clicquot, Krug and Dom Perignon 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 the LVMH luxury goods empire's wines and spirits division, pent-up demand" following the easing of coronavirus restrictions has prompted a run on the finest fizz.