Moët says champagne stock fizzling

JOHANNESBURG - You may want to hold off on popping your favourite bottle of Moët & Chandon this festive season.

Philippe Schaus, chief executive of Moët Hennessy, says that the company is running out of stock.

Speaking at a press conference in Singapore, he warned that there may be shortages over the festive season.

According to the company, American customers are taking advantage of a stronger dollar and spending their extra cash on bottles of bubbly.

Tighter household budgets have not had an impact on the demand for champagne and experts anticipate that the luxury goods market will continue to boom.

This despite fears of a global recession.

Friends and families fond of a chilled bottle of Moët may have to raise a toast with a different brand this Christmas.