Tag: Bordeaux

France Buys Back Bordeaux

China’s love affair with Bordeaux properties is ending as more investors bring châteaux back into French hands. Read the latest wine news & features on wine-searcher

By James Laurence

In 2011, well-heeled Chinese businessmen made the leap from quaffing Bordeaux to owning Bordeaux.

Château de Viaud in Lalande de Pomerol was the first headline estate to be sold, purchased by a state-run agricultural conglomerate, the COFCO group. Subsequently, more than 150 properties changed hands between 2011 and 2019, including Château Latour-Laguens, Lezongars, Chenu-Lafitte, Richelieu and Monlot. At the time, many predicted this trend would continue for the foreseeable  – particularly if the château was pleasing to the eye.

However, the Chinese Communist Party decided in 2019 that enough was enough; restrictions on global capital flows were severely tightened, much to the chagrin of real estate companies like Vineyards-Bordeaux. As a result, the number of transactions plummeted and cash-starved estates had to look elsewhere for salvation. And then Covid-19 happened.

Yet not everyone wept tears over the diminishing influence of outside investors. Bordeaux ain’t no Paris – this is a largely conservative region that has made some concessions to modernity. Nevertheless, a mistrust of a sudden influx of newcomers, bordering on xenophobia, reached fever pitch after several properties were renamed by their new Chinese landlords; the late author Philippe Sollers even wrote to the erstwhile prime minister and Bordeaux mayor, Alain Juppé, to complain about this “sacrilegious” act.

Buy back better

The vineyards in question – Clos Bel Air, Châteaux Senilhac, Tour Saint Pierre and Larteau – were acquired by Mr Chi Keung Tong and his business partner between 2016-17 at a knockdown price; as per usual, families were forced to sell due to the prohibitively high French inheritance taxes (30 percent) and a lack of interest from the surviving children. Within a short time, however, Larteau had been renamed Imperial Rabbit and Senilhac was rebranded as Château Tibetan Antelope.  Eyebrows were raised higher than Mont Blanc, and many predicted this obvious gimmick would fail.

It turns out they were right: Chi Keung Tong sold his acquisitions to a French duo in 2022. “Initially, the foreign buyers did invest money to develop their châteaux, however, due to the Covid-19 period and the economic crisis in China, they were not able to continue to run them,” explains co-owner Denis Chazarain.

“Moreover, the renaming of historical châteaux, properties that boasted established reputations and long histories, created confusion for consumers, even in China. The truth is that Chinese consumers look for stately imagery and pedigree – it was commercial suicide to use these ‘funky’ names.”

Denis Chazarain, and his associate David Caillaud, set up the company Les Domaines de l’Emissaire in 2022 – they purchased the four estates for an undisclosed sum that same year. Their first task, after making an initial inspection, was to banish Imperial Rabbit and Tibetan Antelope to the history books and reinstall the original monikers. Then the hard work began.

“Our number-one priority was sourcing good permanent staff – this was a major challenge as the previous owners used third-party providers on an ad hoc basis,” says Chazarain. “Thankfully, we now have a good team in place – individuals who understand the vineyards and the terroir. One of our key objectives was to start working on a parcel-by-parcel basis, rather than the previous approach of simply vinifiying the entire crop.”

The portfolio certainly has real potential. Château Senilhac is a sizable Haut-Médoc estate with clay-limestone soils, while Clos Bel Air (2.3 hectares) offers an authentic slice of Pomerol garagiste winemaking – “We really do make wine in a garage,” enthuses Chazarain – and high-potential sandy/gravel terroir. Meanwhile, Château Tour Saint Pierre comes with 11.5 hectares of prime vineyards that were formerly owned by the mayor of Saint-Émilion; Larteau is classified as a Bordeaux Supérieur, located south of the Dordogne River close to the town of Arveyres. Like Bel Air, these are Merlot-dominant wines that slot nicely into the “affordable Bordeaux” category. Tourism is also a major focus for the owners, with ongoing renovations at Larteau to expand its potential as a wedding/seminar venue.

“We have also invested in the land, replanting around 5 hectares, in order to ensure the long-term sustainability of the vineyards, engaging them also in a process of environmental certification and biodiversity management, in all properties,” says Chazarain.

“In addition, we have upgraded the equipment, both for viticulture and winemaking, renovating the cellar of Clos Bel Air and constructing a brand new one for Tour Saint Pierre in Saint-Émilion Grand Cru. We have also created some new brands, such as a Cabernet Sauvignon rosé called l’Aerial, and a new Merlot wine l’Improbable.”

New markets

Meanwhile, Chazarain is busy planning for the Wine Paris trade fair in February 2024. But, the biggest priority is to expand distribution of Les Domaines de l’Emissaire’s collection of wines in a saturated global market fraught with geopolitical turbulence and falling consumption. Does that worry him?

“Competition is just an opportunity to improve and to be innovative – we believe in the expansion of new markets which are not yet familiar with wine consumption,” he replies.

“We are especially proud of the expansion we see in north Asia; we will complete the investments started in 2023, especially the completion of the new cellar in Tour Saint Pierre in Saint-Émilion and the opening of our renovated rooms in Château Larteau in March 2024. The replanting program continues apace and Wine Paris is the perfect opportunity to showcase our new labels.”

This ongoing project to resuscitate châteaux acquired by hands-off investors, and then left to decline, is likely to become a key theme of 2024. Ten years ago, Château Loudenne was sold to the Chinese group Kweichow Moutai who, it should be said, invested several million euros into the venture. Nevertheless, success eluded the firm and it was purchased by the French businessman Christophe Gouache in 2022.

Source: France Buys Back Bordeaux | Wine-Searcher News & Features

If You’ve Never Explored French Wine Country, Begin With Beaujolais

Each year, more than 10 million visitors journey to France’s storied wine country. Among the most traveled to regions are the big names: Bordeaux, Burgundy, Champagne, Alsace. Conspicuously absent from the top of that list is Beaujolais — an area that might just be more scenically enchanting than all the rest. But just because the masses are missing out doesn’t mean you need to make the same mistake. Here’s why this part of southwestern France is worth exploring today, before it’s ‘discovered’ by everyone else.Accessibility is a word that comes up time and again in describing Beaujolais. Its location is easily reached by car or rail from Lyon, France’s 3rd largest city. Its people are universally welcoming and almost unnervingly hospitable. But most inviting of all is the wine — a light-yet-luscious red fermented exclusively from the gamay grape varietal. Its appeal spans the spectrum of drinkers; from those seeking something delicate, to those in search of boldness; the self-avowed novice to the full-fledged enthusiast.

In the US, our experience with Beaujolais is primarily viewed through the lens of Georges Duboeuf. The 85 year old wine merchant has been exporting juice from the region since 1964. Négociants, as they are known in France, don’t actually make the wine, but partner with the producers to get the liquid bottled, labeled, and brought to market. A testimony to Duboeuf’s profound impact on the region — his lasting partnership with the local farmers — appears in the form of Hameau Dubouef. Built adjacent to the rail station in his hometown of Romaneche-Thorins, this is the only museum in all of France dedicated entirely to winemaking. It’s open daily from 8AM – 7PM and provides the ideal springboard from which to dive headfirst into the heart of Beaujolais. [ . . . ]

Continue at FORBES: If You’ve Never Explored French Wine Country, Begin With Beaujolais

Bordeaux Wine Firm Found Guilty of Fraud

A leading Bordeaux négociant firm has been found guilty of fraud for passing off table wine as more lucrative appellation wine, and for illegally mixing appellations, vintages and châteaus to the extent that the labels no longer represented what was in the bottle. Bordeaux’s Criminal Tribunal handed down the guilty verdict April 5 against Grands Vins de Gironde (GVG), fining the company nearly $500,000 (with half the fine suspended).”It is a substantial offense,” said Judge Caroline Baret, telling the courtroom that the victims were both supermarket shoppers, who were being unfairly duped, and the image of French wine, which risked being tarnished in foreign markets.Eric Marin, GVG’s former director of purchasing and cellar manager, was also found guilty and given an $18,000 suspended fine. Charges related to a period when he was no longer in his post were dropped [ . . . ]

More at: Bordeaux Wine Firm Found Guilty of Fraud | News | News & Features | Wine Spectator

Why Bordeaux Is The New Tuscany For Every Maltese Person Who Loves Wine 

If you’re one of the many Maltese people who visits Italy almost every year, you’d be happy to know there’s now a new destination to add to your list: Bordeaux. And because it’s not in Italy, it could give you a much-needed break from Tuscany, Sicily, or wherever else you usually venture to for good food and wine in the countryside [ . .  .]

More at: Why Bordeaux Is The New Tuscany For Every Maltese Person Who Loves Wine – Lovin Malta

Legendary Bordeaux Chateaux Are Now Open for Meals and Sleepovers

These days it’s the insider’s way to best understand the region’s famous wines.

The wine region of Bordeaux, long willfully fusty, is in the midst of a modern tourist boom. Last year saw the opening of the swirling aluminum-and-glass La Cité du Vin, a spectacular high-tech museum devoted to wine and culture. And this July brought a two-hour high-speed train link from Paris.

Now you’ll want to venture beyond town for the real fun: The appellation’s celebrated wine châteaux, whose doors were long shut to tourists, have unveiled dazzling wineries designed by big-name architects. And more than a dozen of them, including billionaire-owned Château Cos d’Estournel, have begun welcoming wine lovers for lunch, dinner, and even overnight stays in opulent rooms overlooking the vines.

In the city of Bordeaux proper, beautiful 18th century buildings have shed their soot to stand gleaming once again as part of a renewal project that helped the municipality gain Unesco World Heritage status in 2007. Jazzy wine bars and inventive chefs have swept in since, upending decades of heavy cuisine doused in buttery sauces. [ . . . ]

More: Legendary Bordeaux Chateaux Are Now Open for Meals and Sleepovers – Bloomberg