Bordeaux Allowed to Irrigate

The Bordeaux appellations of Pessac-Léognan, Pomerol and Saint-Emilion have recently been granted permission to irrigate their vines this year after heatwaves and low rainfall across the region threaten the vines with hydric stress. The weather in these areas has been extremely dry for months and French national weather service, Météo France, has reported that July 2022 was the driest since 1959.

As regulated, irrigation is forbidden in the region although recent modifications to the winegrowers’ code “The Cahier des Charges” has allowed it under certain conditions. The Cahier des Charges of all three regions permits irrigation “only in case of persistent drought and when this disrupts the good physiological development of the vine and ripening of the grapes”.

Representatives of France’s national appellations body, the INAO, visited the Bordeaux region to review the situation.

According to news agency AFP, “three [appellations] obtained the authorisation to irrigate to try to preserve the threatened vines”. Other sources, such as local news publication Le Résistant, added that the authorisation also spans to the so-called “satellite” appellations of Saint-Emilion (Lussac-Saint-Emilion, Montagne-Saint-Emilion, Puisseguin-Saint-Emilion and Saint-Georges-Saint-Emilion) and Lalande-de-Pomerol.

The region is not equipped for irrigation with many relying on rudimentary technology to supply the water to the vines. According to AFP, the Bordeaux wine trade body is pinning its hopes on “two or three storms in the coming weeks” to make for “a good vintage”

#bordeaux #bordeauxwineregion #bordeauxwine #madeinfrance #bordeauxlovers #winelovers
#winenews #heatwaves #wine #bordeaux #winelive

SYMPOSIUM ‘ACT FOR CHANGE’ ENDS ON A COLLABORATIVE NOTE

Organized by Vinexposium June 20 and 21, 2022 at the Cité du Vin, the Symposium ‘Act for Change’ gathered over 35 international experts representing 17 nationalities for a series of discussions focusing on the future of wines and spirits between now and 2030.

The event, which was held as part of Bordeaux Wine Week, ended on an optimistic note after addressing the main issues affecting the wine and spirits industry. These include changing consumer patterns, the consequences of climate change and their impact on the production and distribution of wine and spirits. Each talk addressed these issues and provided practical insight, both for industry members attending and those who joined the livestream on Vinexposium Connect, the group’s digital portal. Nine major themes were explored by industry players who view the future with pragmatism, ambition, and confidence in a world of experimentation and solutions to cope with the many challenges to come. At the close of the symposium, speakers agreed that the future of the wine industry would be collaborative, innovative and technological, where ethical practices, transparency, knowledge sharing and engagement between the large companies and winegrowers would be promoted.

Here are some observations on the panel discussions and talks:

If fine wines are to have a future, it will be close to nature

Questioned about the future of fine wines, Oliver Bernard shared his views about the changes awaiting the industry. Expressing a mix of enthusiasm and realism, the director of Domaine de Chevalier stressed the importance of reacting immediately to environmental issues, whilst reiterating his confidence in consumers and future generations in celebrating fine wines. Solutions he mentioned included the emergence of new grape varieties for appellation wines, support for estates to switch over to organic and biodynamic winegrowing and adapting vineyard management techniques.

New consumer habits and new sensory profiles

Questioned about flavour and aroma profiles in 2030, Cathy Van Zyl MW, deputy editor of Platter’s South African wine guide, stated that the South African market was in the process of transitioning to lighter wines. Whisky consultant Colin Hampden-White responded by sharing insight into changing spirits styles, which are increasingly flavourful in response to consumer expectations. Pierre Mansour, wine purchasing director for The Wine Society, stressed that 65% of consumers prioritise climate issues in their choice of wines. Many consumers are looking primarily for ‘honest wines’, showing authenticity, viewed as pure site-expressiveness. Honest wines now seem to be establishing themselves as an emerging and growing trend among consumers seeking added value. They are also asking for variety of choice, catering to their own personal consumption habits, and are turning increasingly towards wines that are drier, more unrefined in style, yet remain savoury, and also towards those that pin their environmental credentials to the mast. For spirits, the future is all about creativity, diversity, assertive tastes, and local traceability. New consumers want to be surprised, they are looking for originality and unexpected styles, which can stem either from new distillation techniques or from creative recipes with unfamiliar ingredients. Stéphanie Marchand-Marion, a lecturer at Bordeaux University studies the latest changes in flavour trends, from the consumer perspective and in terms of climate change. She concluded that wines could survive tomorrow’s climate challenges, provided a balance in their composition was found. 

Tomorrow’s packaging – where changing consumer patterns, innovation and lower CO2 emissions converge

The challenge for the packaging of the future will be to respond to the divergence between the unquestionable need to reduce the carbon footprint stemming from the manufacturing process and consumer perception of sustainable, environmentally friendly packaging. In the consumer psyche, glass remains a sustainable vessel, whereas the reality is more complex. The results of steps taken to recycle bottles are not significant, providing evidence of the discrepancy between interest shown for ecological issues and a real desire by consumers to change their habits. Lulie Halstaed, Director of Wine Intelligence – IWSR, has noticed this particularly in Australia, where 67% of wine and spirits buyers believe in climate change, but only 21% claim to act responsibly. Rob Malin, the founder of When in Rome, launched the first wine sold in a paper bottle, which emits 6 times less CO2 than a glass bottle. As a reminder, the production of glass accounts for nearly 40% of the industry’s CO2 emissions.

Tomorrow’s packaging will have two roles to play: research work and the move towards more sustainable packaging will need to continue, and bottles must be used as a tool for educating consumers of wine and spirits, which are among the most highly packaged products around.

Digitalization of Wine and Spirits

Cyril Grira, Retail & Omnichannel director at Google France, has seen an acceleration in searches for wines and spirits on the Google search engine, as with ‘organic wines’ that have increased three-fold. He also points to the fact that most consumer searches focus on grape varieties, appellations, and local productions. Yet, lack of consumer knowledge on the topic (80% of searches are generic) and of visibility for small producers are barriers to industry performance. The wine industry would benefit from taking a leaf out of the fashion and beauty industries’ book, where multiple formats are used to innovate and tell stories. At the same time, the online sales outlet must connect better with the physical sales outlet. As regards the metaverse, experts expressed reservations, stressing that wine and spirits are primarily part of real-life experiences.

Winegrowing and climate change: opportunities in the face of adversity
As climate change causes upheavals, techniques and typicities across the wine regions are evolving. During the symposium, it was unanimously agreed that coping with climate change and human resilience in supporting winegrowing would be pivotal to tackling the issue. Varietal diversification, planting grape varieties in suitable locations, rootstock and balanced management were all cited as resources. Viewing the future with optimism and ambition, participants called on the industry to take leadership of climate issues and underscored the significance of a collaborative approach – one of the biggest challenges is to think collectively, as a community, so that existing solutions can be shared more effectively.

Geopolitics, wines and spirits – lessons to be learnt from crises

The war in Ukraine undermines control of global capitalism, with consequences including the risk of entering a recession and the supremacy of the dollar in international trade. A new global geo-economy is in the making. Faced with this changing situation, the ability of wine and spirits businesses to adapt must enable them to grasp new export opportunities, in regions such as Africa for instance, and strengthen their brands and their image. Compliance with local rules and protection of brands and appellations are also drivers of this success. Similarly, the impact of climate change affects the geopolitics of wine and spirits, both in the positions taken by leaders and the viability of a supply chain designed to respond to the ‘just-in-time’ logistics expected by younger generations. As Christophe Navarre, chairman of the board of Vinexposium pointed out, “The impact of climate change on winegrowing will be huge. This is a priority mission for businesses, the choice is no longer ours”.

Agro-ecology and innovation: essential bedfellows

Faced with climate challenges and the need to remain competitive in a constantly changing marketplace, agro-ecology innovations are the future. They already come in a variety of forms, from the open access ‘calculator’ for measuring carbon footprint, use of artificial intelligence for managing farms and optimising aspects such as yields – including solutions provided by Israeli company Trellis – to the introduction of regenerative techniques. Although the latter concept covers a whole galaxy of realities, relevant regulations are rapidly progressing and influencing – sometimes even restricting – winegrowing practices. From high-tech solutions to a return to basics, agro-ecology is reinventing itself at the instigation of stakeholders who aim to make it accessible to the broadest audience.

How e-commerce has upended the relationship with the consumer

Lockdown expedited online buying and revolutionised sales. Fabrice Bernard, president of Millesima, commented on how the internet piqued consumer interest about wines that they usually did not drink. E-commerce has changed buying habits, but without driving customers away from shops. This development is compelling e-commerce players to rethink the way they work by creating new technology tools such as those provided by Preferabli, which uses digital technology to help consumers make choices. “We will witness consolidation in the marketplace, but the biggest change over the next ten years will be the increasing number of businesses focusing on the customer rather than on the product. Shops are not the only place where customers can have physical interactions. Digital technology will allow the magic surrounding the product’s story to be developed faster and technology can help tell these stories”, claimed Pam Dillon, co-founder and CEO of Preferabli. The future of e-commerce seems to mesh with a competitive marketplace where customer service will make all the difference.

The future of wine and spirits in 2030 – wrapping up 

The near future will require adjustments to cope with current changes, yet also continued pragmatism, concluded Christophe Navarre, chairman of the board of Vinexposium, who stressed the positive pressure from young people for immediate action in favour of the climate. “Rolling out large-scale, practical actions involves reconciling political agendas, corporate activities, and consumer patterns. This is a complex process. For example, in supermarkets, producers who take positive action are not promoted enough. There is no doubt that this is now one of our missions”, he also pointed out in his concluding remarks at the Symposium ‘Act for Change’.

#actforchange #bordeaux #thesymposium #sustainability #winetrends #winenews #winetrade #vinexposium #CitéduVin #wine #winelovers #winetech #wineconference #wineindustry #wineeducation #wineconsumers #winemarketing #bordeauxwineweek @laciteduvin @vinexposium

List of Michelin-starred Restaurants in Europe Under 30 Euros

Travel restrictions are FINALLY relaxing across Europe and it’s now time to travel and spoil yourself!  Good News! You can surprisingly dine at a Michelin-starred restaurant without breaking the bank and here is their advice – shift from a dinner reservation to a lunch reservation. Most restaurants offer a menu du jour, or menu of the day at lunch, which is more affordable than the regular tasting menu at dinner.

Chef’s Pencil recently featured a map of the top Michelin-starred “most affordable” restaurants in Europe (under 30 Euros) – here is their top 10 for you to try!

  1. L’Antic Molí, Ulldecona, Spain – 20 euros / person

 L’Antic Molí is one of the best restaurants in Spain and is about a two-hour drive south of Barcelona, ​​is the most affordable Michelin-starred restaurant in Europe. Here, surrounded by greenery and with a beautiful panoramic view, you’ll spend 20 /person for a lunch by chef Vicent Guimerà Sales, if you choose to have lunch in the Espai Bistro.

  1. La Robe, Montaigu, France – 24 euros / person

La Robe restaurant in Montaigu, France, is in the Pays de la Loire region. The dining room is spread over two floors. Here you can taste chef Xavier Giraudet’s lunch dishes at affordable prices.

  1. Hostellerie la Montagne, Colombey-les-Deux-Églises, France – 25 euros / person

The Hostellerie la Montagne – a Michelin-star restaurant located in Colombey-les-Deux-Églises in the Haute-Marne department of France’s Grande Est region.  This is the region where the former French president Charles de Gaulle lived (and later buried). This is why the restaurant’s dining room is called A la table du General (at the General’s table). Chef Jean-Baptiste Natali proposes a lunch ‘menu du marché’, a market menu, starting at 25 euros, consisting of an entrée, main course and dessert.

  1. Les Clefs d’Argent, Mont-de-Marsan, France – 25 euros / person

Another French restaurant, Les Clefs d’Argent in Mont-de-Marsan, is located in the southwestern part of the Hexagon. Here, chef Christophe Dupouy offers a menu that interprets the flavours of the territory in a contemporary key, with an exotic spin. A ‘très chic’ address, where you can stop and try ‘Le Menu Retour du Marché’, three dishes prepared according to the produce of the day and Christophe’s inspiration, available only for lunch from Tuesday to Friday.

  1. Essência, Budapest, Hungary – 25 euros / person

Essência can be found in Budapest, and is the restaurant led by the Portuguese-Hungarian couple Tiago and Éva Sabarigo. Guests can savour an original menu that draws on Hungarian and Portuguese cuisine, choosing a “fusion” tasting-menu that combines the two cultures. Among the most convenient options, there is no shortage of proposals for lunch starting from 25 euros / person.

  1. Hotel Restaurant Le France, Villers-le-Lac, France – 26 euros / person

The Hotel Restaurant Le France is in the heart of the Haut-Doubs. Here, chef Hugues Droz tempts you with creative dishes, capable of blending flavours, colours and great technique. All can be savoured in a warm environment, where design meets the territory, including refined details and decorative elements made with local materials.

  1. Le Mascaret, Blainville-sur-Mer, France – 26 euros / person

Le Mascaret is located in the spaces of a former convent for women in Blainville-sur-Mer, a small town in Normandy. The setting is decidedly baroque, but with a modern touch, while the dishes by chef Philippe Hardy are super-creative and well defined. With a ‘la petite table’ formula, at lunch, guests can try a very economical fine-dining experience: at 26 euros / person, the menu includes dishes revisited by the chef with a ‘French touch’, capable of combining tradition and modernity.

  1. Silabario, Vigo, Spain – 27 euros / person

The Silabario restaurant is located in Vigo, in the region of Galicia, in the north-west of Spain. Here, right under an imposing glass dome that houses the headquarters of the Real Club Celta de Vigo football team, chef Alberto González Prelcic prepares a delicious array of dishes with fresh ingredients from the local market at a very affordable price. The menu, at 27 euros / person, is available from Monday – Thursday for lunch and dinner, while only for lunch on Friday.

  1. Auberge du Cep, Fleurie, France – 27 euros / person

Auberge du Cep is located on a famous Burgundy wine route, in the Beaujolais region. The restaurant is led by chef Aurélien Merot, who stands out for iconic dishes with a very French style, mainly focused on jus and sauces. There are several tasting menus to combine with the remarkable selection of regional wines. Try the ‘menu du marché Grille-Midi’ for 27 euros, served every day for lunch, except Saturdays and public holidays (one starter, one main course and one dessert).

  1. La Grange de Belle-Église, Belle-Église, France – 27 euros / person

The Michelin-starred restaurant La Grange de Belle-Église, located in Belle-Église, in northern France, expresses the quintessence of French gastronomic attitude according to Chef’s Pencil. Directed by chef Marc Duval, who offers dishes prepared with high-quality ingredients and a wide selection of Bordeaux wines and champagnes. The menu du marché is served at midday, during the week (except holidays), and offers fresh seasonal produce.

 

Sources:  Michelin/Chef’s Pencil

#michelin #michelinstar #chef #instachef #wine #winelovers #foodandwine #finedining #gourmet #funsunday #Sunday #travelling #europe #traveldiaries #champagne #burgundy #bordeau #frenchwine #frenchfood #foodie #restaurant #michelinrestaurant #spanishfood #winesofspain #hungarianfood #winesofhungary

Cru Bourgeois Classification Raises the Environmental Bar

L’Alliance des Crus Bourgeois du Médoc announced this week, by press release, that it has significantly raised its environmental standards.

Route des Chateaux, Vineyard in Medoc, amous wine estate of Bordeaux wine, Gironde, France

from the next reclassification exercise (in 2025), all wineries designated crus bourgeois will be required to have demonstrated HEV Level 2 environmental certification. Those seeking classification at Supérieur and Exceptionnel level will be required to have HEV Level 3 certification.

In addition, from 2022, all properties seeking to use their crus bourgeois certification will need to present their wines in bottles that weight no more than 390g (a 22% decrease in the current maximum bottle weight).

The organization states: “with sustainability in mind, the Crus Bourgeois du Médoc has shifted to bottles with less weight. The classification was eager to become a part of the global movement towards more sustainable bottling and packaging, as championed by the famous wine critic Jancis Robinson”.

#winetour #winetours #bestofwinetourism #winetourism  #wineexperience #winetravel #wineyards #vignes #vignoble #winemakers #vigneron #terroir #vinrouge #redwinelover #hautmedoc #crusbourgeois #crusbourgeoisdumedoc #environmental #medoc #sustainable #winenews

Cult Wines Americas – The Future of Fine Wine Investment [Part 1]

The “Silver Linings” are real when it comes to fine wine. Despite 2021 being an unprecedented year due to COVID lockdowns, volatile markets, and Brexit challenges, it has been a record-breaking year for fine wine investment.

Both Champagne and Burgundy have an excellent final quarter, with Champagne gaining 22.98%, according to the Liv-ex Champagne 50 index, and the Burgundy 150 posted a 11.19% quarterly gain in advance of the upcoming 2020 vintage en primeur releases. The fine wine market certainly shows encouraging signs that a brighter future is ahead.

According to the Liv-ex Bordeaux 500 Index, over the last 18 months, there has been a resurgence of interest not only from those who have been building their wine portfolios over the longer term but also from new investors.

There are some big investors looking into this alternative-asset class including Warren Buffett himself, so I thought it would be a good idea to investigate further. Cult Wines Investment came on top of my searches.

About Cult Wines Investment
Founders Tom and Phil Gearing launched the Cult Wines platform in London during 2007 with the idea to revolutionize the way fine wine investment works and make the asset class more accessible. Not only is Cult Wine Investment the global leader in fine wine collection and investment management, but they are also on a mission to make investing in wine as enjoyable and rewarding as the wine itself.  The leadership team have a deep-rooted passion for fine vintages, and close relationships with prestigious and respected growers, as well as market-leading investment expertise.

Enters “Cult Wines” Americas
Cult Wines enters the North American market in 2021 with headquarters in New York and Toronto, as one of the first wine investment platforms with a special focus on US and Canadian investors.

“The US is a big player in the auction and collectors’ market but historically has been underserved in the wine investment market,” describes Tom Gearing, the CEO and co-founder of Cult Wines.

“Historically, the wine investment category has been perceived as only for the wealthy, or those with considerable wine knowledge. We know that is not the case and are enabling more people to invest effectively while maintaining the client service, impeccable standards, and returns for which we are known,” said Atul Tiwari, CEO Cult Wines Americas.

Cult Wine Investments website: www.wineinvestment.com

Here is a list of the Americas leadership team and either wines they have really enjoyed or regions they love.

Tom Gearing, Global CEO

Tom Gearing oversees the company’s overall strategy, global operations, and technology innovation. Tom has grown this start-up to an award-winning global company with $390 million assets under management (AUM) and 80+ employees in six offices including: United Kingdom, North America, and Asia Pacific.

Tom has been regularly quoted in the New York Times, Financial Times, Wall Street Journal, and Forbes. As well as being the recipient of numerous awards, he has received the Queen’s Award for Enterprise in the International Trade and the Spear’s 500. He also holds a WSET Level 3.

Tom’s Favorite Wines:

Tom enjoys chardonnay and pinot noir, and at the same time, he likes to try as many different styles and grape varieties as possible. His most memorable vinous experiences to date are Petrus ’61 en Magnum, Liger Belair La Romanee ’09 and Domaine Leroy, Richebourg ’03.

Atul Tiwari, CEO, Americas

Atul Tiwari leads the team and is responsible for the overall strategy and development of Cult Wines Americas. Hailed by Investment Executive as ‘having a knack for knowing what’s next.’

As former CEO of Vanguard Canada, Atul and his team helped pioneer ETF investing in Canada and grew the company to $30 billion in assets over 7.5 years. Prior to Vanguard, he was the founding President of BMO Exchange Traded Funds. In 2018 he received the Indo Canada Chamber of Commerce award for Corporate Executive of the Year and has twice been named to Wealth Professional’s annual list of People to Watch in the industry. Atul is a member of the Independent Review Committee for Mackenzie Funds, a Director of the D.D. Foundation, Atul is also a member of the Advisory Council for the CFA Society of Toronto and an Honorary Trustee of the Royal Ontario Museum.

Atul has previously managed a 4,000-bottle cellar of Bourgogne for Confrerie des Chevaliers du Tastevin (Toronto). It’s interesting to note that he also has a law degree from Osgoode Hall Law School and has practiced in both London (UK) and Toronto before transitioning to finance.

Atul’s Favorite Wines:

Atul has a passion and is very knowledgeable on Bourgogne, in addition he enjoys Bordeaux and Italian wines.

Carrie Tuck, CMO, Americas

Carrie has spent nearly two decades working in public relations and marketing for multimillion-dollar brands and start-ups within the financial services industry.

Prior to joining Cult Wines Americas as Chief Marketing Officer, Carrie was the Head of Marketing for Vanguard, Canada and was instrumental in building the brand in the region. Throughout her career, Carrie has held various senior positions at asset management and fund companies, where she ran marketing, product and client service. Carrie also holds a Bachelor of Arts (Honours) from Concordia University.

Favorite Wines:

Carrie likes to experiment with wine, so she seizes opportunities to try new wines whenever she can.

 

Jonathan Stevenson, EVP, Americas

Jonathan brings over ten years and extensive experience in the alternative investment sector of fine wine to his role of Executive Vice President at Cult Wines. In 2021, he was appointed to oversee Cult Wines’ global expansion into the Americas and is responsible for growing the client base.

Previously, Jonathan was the Sales Manager for the UK sales team. He began his career at Cult Wines as a Portfolio Manager after graduating from Newcastle University (UK) with a degree in Marketing and Management.

 

Favorite Wine:
Vega Sicilia Unico

– Up Next –

Cult Wines Americas – The Future of Fine Wine Investment [Part 2]

I will explore and do a deeper dive into this growing alternative-asset class, and explore Cult Wine’s new investment platform how it makes investing in fine wine more accessible!

#wine #finewine #wineinvestment #alternativeinvestment #winenews #winelovers #winecollectors #champagne #bordeaux #burgundy #finewinelovers #wineindustry #winebusiness #winetrade #winetrends #vin #frenchwine #winemarket #winenews #wineeconomics #vintagewine #wineinvestors #cultwines #cultwinesamericas #cultwinesUSA #cultwinescanada #cultcru #bourgogne #mycultcollection #winewednesday

 

Disclaimer

Past performance is not indicative of future success; the performance was calculated in GBP and will vary in other currencies. Any investment involves risk of partial or full loss of capital. The Cult Wines Index is a hypothetical tool. The results depicted here are not based on actual trading and do not account for the annual management fees that may be charged to a Cult Wines customer which ranges from 2.95% to 2.25% depending on the size of the portfolio, and there is no guarantee of similar performance with an investor’s particular portfolio.