VINEXPO HONG KONG 2024: A FEW TAKEAWAYS #1
BORDEAUX AND WHAT IT TAKES TO BE A LEADER IN THE INDUSTRY
One month ago, I had the opportunity to attend Vinexpo. You might think it's outdated information, but here's why I believe otherwise.
- First, Vinexpo takes place every other year in Hong Kong, and this year it resumed after a six-year hiatus.
- Second, despite the ever-changing business trends in our VUCA (volatile, uncertain, complex, ambiguous) world, there are long-lived phenomena that offer valuable insights.
Now, let's delve into my first takeaway.
On May 28th, I attended the Union des Grands Crus de Bordeaux Tasting, showcasing the 2021 vintage. It was a truly unique opportunity to sample over 75 exceptional wines. Despite the weather challenges faced in 2021, the results are quite impressive.
Contrary to the Bordeaux bashing we can hear or read here and there, this serves as further evidence that Bordeaux Grand Cru winemakers possess exceptional expertise in their craft. They demonstrate their ability to adapt to adverse climate conditions while maintaining consistency and outstanding quality.
Furthermore, tasting a wide range of wines on the same occasion allows you to discern the influence of terroir and winemaking techniques on a wine's style.
The pricing of Bordeaux Grand Crus has recently sparked controversy. However, it's important to remember that for some of these Châteaux, it's no longer just about the wine itself; it has become intertwined with notions of luxury and status. In French history, Napoleon III may not have left a favourable impression, but there is at least one thing for which we should give him credit: he commissioned the Bordeaux Grand Cru classification of 1855. The 1855 Classification and the Saint-Émilion Classification have fulfilled consumers' expectations in an ever more fragmented market by offering a concise list of top-quality products. Critics focus on these select names each year, refining the rankings with tasting notes, giving birth to iconic wines.
Nevertheless, even these esteemed Châteaux must follow market trends. This year's « En Primeur » release signalled more reasonable pricing in line with the principles of supply and demand.
Even before this, if we step away from the world of Grand Crus and luxury, it was already possible to find many Bordeaux Médoc and Haut-Médoc wines in Hong Kong at genuinely reasonable and competitive price points (even below $300, some below $200). These wines can undoubtedly satisfy the palates of many wine enthusiasts.
Why such a stark difference? Because beyond the leading estates, numerous excellent Bordeaux wineries struggle with market conditions to establish themselves, create a renowned brand, and capture a broad consumer base.
#Vinexpoasia #UniondesGrandsCrusdeBordeaux #WineHongKong
Graphic designer with industry experience and a real degree. My opinions are my own.
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