Massive Lafite shipments to China rock global wine business

by The Antique Wine Company 24 May 2010 11:40

國語版本

Whilst here in Hong Kong anticipating the lines of Chinese visitors for tomorrow’s opening of Vinexpo Asia, I wonder who would have thought ten years ago that this Asian market would be the driving force behind the fine wine business as it is today? It’s an explosive phenomenon best illustrated by the rise in value of Lafite 1982. Three years go The Antique Wine Company was supplying this wine at £10,000 per case. We are now supplying the same wine for £40,000 per case and every case of Lafite, not only the 82 but even the shadow vintages of its second wine, goes to China and we still can't find enough. This is good news if you're a European client with an odd case or two in the cellar that you might wish to sell!

Two years ago, whilst at The Antique Wine Company's “Three Centuries of Lafite” event (co- hosted by Chateau Lafite and The Antique Wine Company) at Grand Hotel du Cap Ferrat in the South of France, I asked Lafite's winemaker Charles Chevallier, over a glass of their 1959 vintage, "what do you attribute the apparent popularity of Lafite in China to?” He answered, two reasons, the first being that "Lafite makes the best wine in Bordeaux" (an answer which the world’s most esteemed  winemaker is almost duty bound to give with hand on heart and one which is perhaps true), but the second reason was probably equally important; "Lafite is a name that is pronounceable in Mandarin, and there's also something special about the word "la feet" in the world's biggest, fastest growing economic force.

During this Vinexpo show, I'll be taking a massage of La Feet every day!

© 2010 Stephen Williams

 Pic; The Great Antique Lafite Collection 1787-2000 sold by The Antique Wine Company in 2007

 

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5/28/2010 6:32:38 AM #

One of the key factors for brands in China is its simplicity in "coding".  Most Chinese cannot read English so they look for recognizable signs such as Lafite's distinctive etched label look.  Couple this with ease of pronunciation and also the received information that Lafite is supposedly "the best" makes it easy for Chinese elite wine drinkers to choose the brand with confidence.  Taste is generally irrelevant, despite what Mr Chevalier would like to have us believe.  The instantly recognizable etched element is also helping Duhart Milon sales, which has a similar design style.  This is clearly confirmation that it is very much design recognition over content at the moment in China.  And by the way, anyone passing on that story of the Chinese drinking Lafite with Coca Cola needs to be challenged.  Not one of my colleagues in the industry in China ever saw that nonsense.  This ridiculous pricing of Lafite - and even worst still Carruades (yes, that etching again!!) - will go the way of all fashions in China, when the next new thing makes its mark.  Perhaps Leoville's Barton's gates???  Or Spinetta's Rhino???

chris robinson Hong Kong S.A.R.

6/3/2010 8:08:48 PM #

Sadly, many of these great wines will arrive into households without proper storage condition. Lafite will be nothing more than a prestige valuable item changing hands and going back and forth among the new rich. The wine will eventually be consumed even if it becomes vinegar. Who is to tell with a mix of 7-up or a bottle of coke.

Karl Shiu Hong Kong S.A.R.

About the author

Stephen Williams

Stephen Williams, Founder and CEO

Stephen Williams began trading as a wine merchant in 1982 and wishes he had stocked his cellar with Château Pétrus on day one. Since founding The Antique Wine Company,  Stephen has built The Antique Wine Group into an organisation with clients in 63 countries and a global network of offices, representatives and business groups. Regarded as one of the world’s leading experts in fine and rare wines, he has created some of the greatest wine cellars and collections in existence – in châteaux, palaces, wineries, hotels and private residences across Europe, Asia and North America. As a popular commentator on the wine industry, fine wine investment and the global wine market, Stephen is frequently quoted by both the UK and international press corps. Along with his regular lectures at AWC Wine Academy, this blog offers a behind-the-scenes view into the world of fine wine.

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