A leading Bordeaux based estate has announced this week that it is significantly cutting the price of its 2013 wines on the back of pressures which have hit the region as a whole. What could this mean for the entire Bordeaux wine culture going forward?
At the Ideal Wine Company we feature many Bordeaux vintages, including famous names such as Chateau Lafite Rothschild, Chateau Cheval Blanc and Chateau Lafleur, and these have proved consistently popular with customers who purchase their luxury wine from us.
That is because Bordeaux is perhaps, second only to Champagne, the most famous wine making region in the world. The area is known for the superior quality of its grapes, which produce mouth-wateringly complex vintages that leave the drinker stunned and awed at the quality of the wine they are drinking.
The News at Chateau Cheval Blanc
From this it’s easy to conclude that wine forms an essential element of Bordeaux’s economy. That is why any negative news from a name as recognisable as Chateau Cheval Blanc could impact the entire Bordeaux brand.
The luxury wine estate that has been supplying the world with its signature bottle for decades has announced that it has been forced to slash prices by 12% on its 2013 wines. Specifically, the luxury wine provider has now set the price for this vintage at 300 Euros a bottle from the Bordeaux wholesaler merchants.
This price cut has been forced by conditions in the region that damaged crops for more than just Chateau Cheval Blanc. Bordeaux experienced a slew of cold wet weather last year in the height of growing season which stifled grape crops en masse, and as a result the whole area is feeling the pinch on its 2013 vintages.
Investment in Bordeaux Wine
It appears that these conditions have affected the entire Bordeaux wine investment culture, with growers currently being pressurised to slash prices by between 25% and 30%. Will Beck, a partner at Wine Asset Managers LLP commented to news outlet Bloomberg thatgrowers in the region are being persuaded “to sell the vintage and get a bit of goodwill flowing again, especially as the 2013 vintage suffered from such poor growing conditions.”
At the Ideal Wine Company we see the problem for those dealing with investment in the Bordeaux wine industry. We also see that for those people looking to purchase luxury wine to drink, this may be your golden opportunity.
