Tignanello and Solaia, a Pure Definition of Luxury Wine by Antinori

(More wine news on www.vitabella.fr). Tenuta Tignanello, with its famous Tignanello and Solaia vineyards, is situated between the Greve and Pesa valleys in the heart of Chianti Classico exactly between the little villages of Monteridolfi and Santa Maria a Macerata, 30km south of Florence. Tignanello covers 350 hectares of land, 147 of which are planted with vineyards, These are divided into small plots: the Tignanello vineyard covers 47 hectares with the 10-hectare Solaia alongside. These lands derive from Pliocene marl, with shaly, chalky elements, and are situated at an altitude of 350-450m, enjoying warm days and cool nights during the growing phase.

The native Sangiovese variety and the non-native Cabernet Sauvignon and Cabernet Franc varieties are planted at Tignanello. There is also a small quantity of white grapes - Malvasia and Trebbiano - used in the production of Vinsanto. Other non-native varieties grown at Tignanello include small quantities of Syrah, Pinot Nero and Merlot, planted experimentally in the Seventies. Antinori initially experimented with Cabernet Sauvignon and Cabernet Franc in the Twenties, but these varieties were then abandoned during the Second World War; they were replanted in the Sixties and began to be used commercially in the Seventies. The grapes are picked in about three weeks, between the end of September and early October and crushed and fermented on the estate. Afterwards the wine is aged in the old cellars below Villa Tignanello.

The 16th century villa on the estate was built on the foundations of one dating back to 1346, when the land belonged to the Buondelmonti (like much of the Val di Pesa). The estate was later taken over by the Niccolini who renamed it Poggio Niccolini, and in later years it was purchased and resold by various local aristocratic families. In the 17th century it passed to a cadet branch of the Medici family, who named it Fonte dei Medici, and subsequently to the Antinoris in the mid-19th century.

In this beautiful environment, Tignanello and Solaia are grown, made into wine and aged at Tignanello while other grapes grown on the estate are used in the production of Santa Cristina, Villa Antinori and Tenute Marchese Antinori. In his artistic-historical guide of the town of Sancasciano Val di Pesa (1892), Carocci describes Tignanello (now a large estate with extensive vineyards) as one of the highest and most picturesque points of the whole area. On the top of the hill, a scenic position rich in plantlife, stands a small group of houses, some of which are very old indeed. A splendid tuscan scenery for a beautiful wine story recognized internationally. (More wine news on www.vitabella.fr).

Champagne Pol Roger 1914: What makes a Luxury Wine...Extraordinary?

(More wine news on www.vitabella.fr) At first, you may say that a champagne is extraordinary because the taste of this luxury wine is just...extraordinary. "Taste is the one sense that brings the greatest enjoyment" great food-lover Jean Anthelme Brillat-Savarin once said. But Taste is very relative, controlled by the cerebral cortex and strongly influenced by culture. Therefore, taste varies enormously from each person. On the day I tasted Pol Roger 1914 with champagne experts, we all shared the same enthusiasm: " It's fresh, elegant, intense with delicate bubbles. How can it be so lively after 97 years?. This champagne is really extraordinary."

What makes this champagne so lively is not only its taste. Hubert de Billy, from the owning family, made it lively when he explained that "it was disgorged in 1934 and that it can age for long years still." Yes, you read it right, this champagne was disgorged around 80 years ago and does not go into this fashionable category of RD champagnes (RD meaning Recently Disgorged) that we can find now on the market. This is an OD Champagne (OD does not mean "Oh my Dear" even if Winston Churchill could have said so if he had put his nose in the glass but OD would mean literally Old Disgorgement). In fact, tasting a RD 100 years old champagne is by itself unique but tasting a 100 years old champagne disgorged in 1934 makes the experience even more extraordinary.

How can Pol Roger still have these old vintages in their cellar?

"After 1924, the economy in Champagne was much better" commented Hubert de Billy. "Pol Roger developped its business and in 1934 we opened our new celliers at 34 Avenue de Champagne, still a landmark building in the town. It was the right time to disgorge these bottles and stock them. Most of our current business being based on selling the more recent champagnes, we took the opportunity to cellar these 1914 bottles."

Even for experts, guessing the vintage and disgorgement year for this bottle would have been simply impossible. The champagne was so fresh, vibrant and lively. We could easily feel the power of chardonnay grapes in this champagne, maybe sourced from vineyards around Epernay (Chouilly...). But nobody knows exactly and who cares as long as the champagne is superb...In fact, secrets kept in this bottle made the champagne even more extraordinary.

Even with a little knowledge of history, we all know that 1914 was the beginning of the first world war. So we can easily understand that making champagne during this period was complicated. "Maurice Pol Roger, mayor of the city of Epernay at this time, was looking for opportunities to develop the economic situation of his town. Men had to go to war and Maurice said to the women to go and harvest. The town decided to print bank notes in order to pay for each volume of grapes harvested.." said Hubert de Billy.

This is the end of the story and, at this stage, you may have the anwer to the question asked at the beginning of this article. Like it says on each bottle of Chateau Gruaud Larose "Le Vin des Rois, Le Roi des Vins", Pol Roger 1914's label should mention “Harvested to the sound of guns. To be drunk to the sound of Trumpets”. On the other day, there were not only trumpets but a full orchestra playing a symphony. In our glass, aeration made this wine even more complex in terms of aromas and intense on the palate. The champagne, by itself, was superb. Superb but the rest made it just....extraordinary.(More wine news on www.vitabella.fr)

2010 Northern Rhône Wine: « After the Exuberance of the grape varieties in 2009 wines, welcome to the Exuberance of the soils in 2010»

(More wine news on www.vitabella.fr) A recent tasting of 2010 Northern Rhone wines at Maison M.Chapoutier was an excellent opportunity for Michel Chapoutier to give his first impressions on the quality of this vintage for each appellation. Before considering any specific appellation, he first declared: « After the exuberance of the grape varieties in 2009 wines, welcome to the exuberance of the soils in 2010. In the 2010 vintage, wines deliver a magnificent definition, with minerality, elegance and a great tension.» Here is a summary of his comments on each appellation.

Appellation Cote-Rotie 2010 « The flowering was less generous than in 2009 and Nature has therefore regulated the load by vine. Grapes have benefited from a remarkable natural concentration. This 2010 Mordorée shows a black colour and a complex and intense nose of ripe and fresh black fruit. Beautiful floral aromas (Violet…). Full bodied, very elegant with tanins and a great balance. Finish shows a splendid mineral tension. »

Appellation Condrieu 2010 « The flowering was generous on the viognier grapes and the very northern climate in 2010 allowed harvesting grapes with remarkable fresh aromas. Immediately we knew this vintage would deliver finesse. The result is in accordance with our expectations. The nose shows beautiful fresh aromas. Notes of exotic fruit, litchi, pineapple, but also notes of citrus fruits, green lemon and apricot. On the palate, the wine is full bodied, refreshing and delivers minerality. The structure, supported by a beautiful acidity, is well balanced. Finish is persistent and aromatic. »

Appellation Saint Joseph White 2010 « Flowering was even less generous than in 2009. We harvested beautiful grapes full of concentration and minerality. At first, the nose of this 2010 White Granit expresses power and aromatic complexity with a mix of citrus fruit, fennel and some very elegant reduction typical from granitic soils. The mouth, rich and powerful, expresses the mineral tension from granitic soil with an impressive precision. Floral, mineral notes, with fennel and anise aromas and and a beautiful "bitter almond" finish. The refreshing signature of a perfect Marsanne on Granitic soil. »

Appellation Saint Joseph Red 2010 « In 2010, Saint Joseph wines from the southern part of the district are more powerful than those from the northern part which deliver an extraordinary purity. This 2010 Les Granits delivers a nose full of black fruit with a strong mineral accent. Graphite, carbon, impression of a stone burnt by the sun. The tension on the palate, the important and delicate tannic structure as well as and the minerality from a granitic soil make this wine unique. Aromatic persistence is impressive with a full, complex and tense sensation. »

Appellation Crozes Hermitage Red 2010 « This 2010 Varonniers shows a very intense nose, with black and red fruit notes (black cherry), lovely vegetal and floral aromas (violet). The attack is massive, tanins add beautifully to the structure of the wine. Full bodied and balanced with a nice mineral tension. A finish with a great precision and some black fruit. »

Appellation Crozes Hermitage White 2010 « A first discreet nose and then an astonishing complexity for a Marsanne planted on sedimentary soil. Elegant marriage of fennel and citrus fruit (green lemon), very refreshing aromas. The palate is well balanced between fruit (pear…), nice vegetal notes (fennel, anise) and mineral tension. Finish is persistent and refreshing. »

Appellation Hermitage Red 2010 « Syrah grapes ripened very slowly, skins accumulated important quantities of polyphenols which give powerful attacks as well as structured and balanced wines. The nose of this 2010 Pavillon is complex and very intense. With aromas of black fruit, blackcurrant, blackberry and graphite, this wine shows a delicious freshness. Palate is powerful, full bodied. Beautiful tanins add to the structure of this hermitage. Finish is explosive. »

Appellation Hermitage White 2010 « Whites are very mineral, with elegant aromas of white fruits and white flowers. Always with a beautiful acidity, finesse, complexity and saline finish. A discreet nose at first for this 2010 White Ermite, then a large range of floral nuances and mineral notes but always discreet and very delicate. Complexity is such that it is difficult to name them separately. Mouthfilling, the expression of this wine is based on a delicate mineral tension. Floral and mineral notes come together to make the wine even more impressive. Aromatic persistence is impressive: fresh, with a mineral tension, the wine offers a refreshing sensation.»

Appellation Cornas 2010 « This appellation produced grapes with a beautiful maturity. These wines are both powerful and balanced. The wine shows a black and deep colour. A very complex nose with fig and fig leaves aromas. Then notes of graphit, carbon, soot. Attack is massive, with elegant and structured tanins, lovely flesh and superb mineral tension. Full bodied, the wine shows a big volume with structure and flesh. Tanins, which are still showing a little “granitic” austerity, will benefit from ageing. »

Appellation Saint Péray 2010 « The nose expresses some aromatic complexity, a mix of citrus fruit, pear, beautiful flower nuances (hawthorn), anise and a discreet and elegant reduction. Palate is generous, rich, supported by a lovely acidity and a long finish punctuated by a beautiful mineral reduction. » (More wine news on www.vitabella.fr)

2011 Resolution: Take Time to enjoy the Best Wines made on this Planet!

(More wine news on www.vitabella.fr) Yquem, Vega Sicilia, Petrus, Chateau Lafite Rothschild, Egon Muller, Romanee Conti, Penfolds Grange, Sassicaia, Krug, Quinta do Noval, Dom Perignon, Margaux, Screaming Eagle, Pingus....Sometimes privileges come with age. And sometimes they come with your job!.

Travelling, meeting nice persons, tasting magnificent wines with knowledgeable people is definitely A Great Privilege. I have to admit that drinking the most fabulous wines produced on this planet is something unique. But, at the same time, I may sometimes feel frustrated not to have spent enough time to enjoy those wines. In fact, professional tastings have nothing to do with a scenario like "opening a bottle, sitting around a table with some people, having food and enjoying a glass". And for that reason, I sometimes feel that I miss a part of the experience. So, if there would be a resolution for 2011, I would go for that one: Take more time to enjoy some of the greatest wines Nature and winemakers are offering.

12 months, 365 days....2010 has given great opportunities to taste splendid wines. I say "taste" because most of the time it was during professional tastings. I would definitely sit again and enjoy the wines I particularly appreciated. Some examples?

1978 Champagne de Venoge Blanc de Blancs, with its beautiful and exhuberant truffle aromas and a definition of purity on the palate.

1999 Coteau de Vernon (Domaine Georges Vernay), for the expression of minerality, precision and elegance in Condrieu.

1900 Chateau Gruaud Larose for the perfumes, the colour and the delicate fruits. Simply unbelievable after 110 years...

2000 Littorai, a pinot Noir from Sonoma County (USA) that delivers a lovely fruit, with a great balance and a nice potential for ageing. A future US icon wine?

1990 Chateauneuf du Pape Barberac (Chapoutier) for a brilliant interpretation of Grenache in a great vintage and in a splendid appellation.

2007 Giorgio Primo which shows a great balance between structure, power and aromas. A mineral tuscan wine for great Bordeaux lovers!

1963 Quinta do Nova Nacional: Dark ruby, Sweet, spicy, tannic, silky...There is everything in this Port.

In 2011, if I could have these delicious wines once again, I would share them with some friends and take my time. I would forget about the immediate reactions I have during professional tastings: Is it really as great as we would expect? To what wine does it compare? what other vintage of this wine could it be compared to? How does it rank in this particular vintage compared to other producers? Does it exactly reveal the terroir? In fact, I should forget about all these questions that come first to my mind and which make, maybe, the experience a bit different. Difficult, in fact, to get out of this analytical aspect which is now part of myself. But, anyway, you know how difficult it is to follow the resolutions you wrote down on January 1st...So Have a great 2011! I wish you to enjoy many new unforgettable experiences and share great wines with winemakers down in their estate cellars!(More wine news on www.vitabella.fr)

Could a US$100 Bordeaux Fine Wine be sold at the Pump? Famous Bordeaux Winemaker Domaine de Chevalier plans to do so...

(This editorial is the executive summary of an exclusive VitaBella report)(More wine news on www.vitabella.fr) Wine market in China is growing very fast and specialized wine retail shops still need to develop all over the country. For that reason, new opportunities are considered by wineries willing to gain rapid market shares and brand awareness. An acclaimed Bordeaux Chateau, Domaine de Chevalier, understood this situation very well and decided to move forward. In a recent article, Wall Street Journal wrote that "the premium winemaker has an agreement with China Petroleum & Chemical Corp. to peddle its Bordeaux in 110 stores across China, according a report by Shenzhen Special Zone Newsletter." (you can read the full article in VitaBella Wine Gossip, Edition December 15th)

Can this move be a success in a short term? in the long term? With a strong distribution network throughout China, Sinopec is a big player in the oil industry. So partnering with them and leveraging on a large daily traffic at the pump could make sense for any company that wants to develop sales rapidly in a huge market. Moreover, with the increasing problem of counterfeit wines, Domaine de Chevalier can propose its bottles in some "reliable" shops that chinese fine wine lovers are looking for. In terms of brand image, success will be guaranteed if Domaine de chevalier makes sure that labels are effectively seen and promoted nicely. The impact will not be the same if wine cases stay between oil bottles and car washing products, or if they are displayed in a nice way that would immediately attract eyeballs.

A concern for Domaine de Chevalier may be the professional qualifications of the people working in the gas stations. Does this workforce know about wine or do they need to be trained to talk about wine and more particularly about Domaine de Chevalier? Or do we consider that buying a bottle of Domaine de Chevalier can become an "impulse buy". Knowing that we talk here about wines that cost in the range of 600 yuan to 700 yuan (US$90 to $105), I am not sure that the "impulse buy" effect has much to do in this category level but the Chinese market is so unpredictable...In fact, as Wall Street Journal mentions it, this won’t be the first wine sold at Sinopec. Their gas stations have already displayed and sold Great Wall wines, one of the country’s leading labels.

As a conclusion, this new venture for Sinopec (they have been selling products other than fuel for two years now), seems to develop well. And going high end is a way to answer demands from a chinese market that develops rapidly in fine wines. If, on a long term, Domaine de Chevalier should be aware that its wines may be referred as "the gas station wine" (in fact, this may have a negative impact if communication is not properly handled), selecting a limited number of gas stations (110 stores in China) is a first good step for the wine estate. This may open new opportunities in the future, with a broader distribution. It will also give time to both partners to know each other better. And if today only 15% of Sinopec's 95,000 stations sell nonfuel products, such as wine, we can easily figure out the huge potential for such a deal if China Petroleum & Chemical Corp. decided to implement this approach throughout their network. China is full of opportunities for fine wines and Olivier Bernard, owner of Domaine de Chevalier, understood it very well at an early stage.(More wine news on www.vitabella.fr)

Luxury wine: Piper Heidsieck and Charles Heidsieck on Sale...After Remy Cointreau, could a chinese company be the next owner of both Champagne brands?

For wine professionals, this is not breaking news: Remy Cointreau, world's second-largest producer of cognac behind the Hennessy brand of French luxury products group LVMH Moet Hennessy Louis Vuitton, has put its Piper-Heidsieck and Charles Heidsieck Champagne brands up for sale in a deal which could raise as much as €450m. According to the UK wine magazine Decanter: "The news has provoked intense speculation over who will acquire the brands, with Diageo and Pernod Ricard named as possible bidders – although analysts believe a private equity group is the most likely buyer." What should we think about these speculations and what other names could be evoked? With the current strong interest for wine in Hong Kong, a big chinese name could make the deal.

Charles Heidsieck and Piper Heidsieck are on sale. Right but what should the buyer be aware of?

1) On the financial side: Sales dropped to 6.9m bottles in the year to March 2010 (of which Piper accounted for 5.6m and Charles 0.8m bottles). Bottom line: It is understood that Piper has never been profitable in the 20 years that Rémy Cointreau has owned it.

2) On the Human Resources side: Cost-cutting measures have included the announcement of 45 job losses (one quarter of the workforce) in February 2010, which prompted strike action at the company’s headquarters on the outskirts of Reims. Full measures were not applied.

3) Distribution: Buyer's major objective will be to develop sales internationally. Distribution of Charles and Piper Heidsieck was supported by the strong experience of Remy Cointreau group. The buyer will ideally have its own distribution network or would have tied up strong relationships with distributors in strategic places in the world.

4) Grape resources: Charles and Piper have good long-term contracts with vine growers. The buyer should make sure to pursue these long term contracts by strengthening relationships with vine growers. Then it will guarantee the buyer to maintain quality and volume achieved in the past.

5) Brand assets: Experts praise quality of Charles Heidsieck champagnes. From Brut Non Vintage to Blanc des Millénaires, the quality is very high but low volume makes it a little known brand worldwide compared to Piper Heidsieck. With over 5 million bottles and a new delicious top cuvee called Rare, Piper is a strong brand. But a major issue arises when it comes to branding: Confusing names. In fact, Charles Heidsieck and Piper Heidsieck are two labels along with the Heidsieck Monopole. If the name confuses the champagne connoisseur a little, most of occasional champagne buyers may be confused. This could unfortunatley have direct impact on brand image.

So Charles Heidsieck and Piper Heidsieck are now on sale. But who could buy them?

We can hear and read some rumors. Recently in Dow Jones : "Laurent-Perrier is "watching closely" Remy Cointreau's champagne unit sale process, Etienne Auriau, Laurent-Perrier's Chief Financial Officer said Wednesday. Even though Laurent-Perrier may not be interested for all the assets put on for sale, the company might be interested in the contracts to supply the wine producers, Auriau added."

Ok, very good point! But, in that sense, we can easily imagine that some other champagne brands might be interested in these contracts. So, next! A private equity group? It would make sense in fact but Champagne is a very specific industry and this fund must have a good experience in the Champagne industry. Or this private equity group would partner with a renowned champagne name to make this deal successful. An american company? With euro-dollar parity and economic uncertainty, it may not be the right timing for a US based company to make such an investment. Pernod Ricard? They currently make a great work to develop internationally Mumm and Perrier Jouet and enhance both brand images. So at this period, they are on hard work and they may not think about investing in new brands...

I may suggest 3 other directions. None is french!
First, the spanish Freixenet group: they already know about the champagne market (they own Abele) and have a strong and efficient distribution network. Freixenet is one of the most renowned and largest cava houses in Spain, similar in size and importance to France's Moet & Chandon. Going high-end may be an interesting strategy for them.
Second, the german Henkell & Co: One of the leading sparkling wine, they export to more than 70 countries worldwide. The Group is represented by owned subsidiaries in twelve countries. It has leader position for sparkling wine in seven countries and boasts a turnover of €628.6 million. Moreover they know about the specificities of the champagne market as they own Alfred Gratien and they built up a nice brand.
Finally, with the strong interest for chinese in wine, a chinese company could be interested in acquiring these 2 brands. Many names could come up and I won't make the full list but I would suggest one name: AS Watson. Watson's Wine Cellar opened its first store in Central Hong Kong and is now the largest specialist wine store chain in the region with 15 stores. A distinctive feature of each Cellar is the Fine Wine Room containing over 300 different vintages ranging from the top Chateaux from Bordeaux to emerging New World Classics from around the world. Watson's Wine Wholesale has grown significantly since its launch in 2000 and is now one of the top suppliers of wine to the food and beverage industry in Hong Kong. With a history dating back to 1828, the A.S. Watson Group has evolved into an international retail and manufacturing business with operations in 34 markets worldwide. Today, the Group operates over 8,900 retail stores running the gamut from health & beauty, luxury perfumeries & cosmetics to food, electronics, fine wine and airport retail arms. Also an established player in the beverage industry, ASW provides a full range of beverages from bottled water, fruit juices, soft drinks and tea products to the world's finest wine labels via its international wine wholesaler and distributor. ASW employs 87,000 staff and is a member of the world renowned Hong Kong-based conglomerate Hutchison Whampoa Limited, which has five core businesses (ports and related services; property and hotels; retail; energy, infrastructure, investments and others; and telecommunications) in 54 countries. So this HK based group is in the fine wine business, in the Manufacturing business with Water, fruit juices and soft drink, and also in the retailing. Moreover 350 - 450 million euros is an "affordable amount" for this giant company. In fact they would just need to sell Marionnaud business (perfume retailing) to get this money and invest it in Champagne!

Should you sell your bottles of Chateau Lafite Now as the top China economist Andy Xie would advise?

(More wine news on www.vitabella.fr) Luxury wine and Lafite prices...If there is one article to read over the week-end, that may be the well documented post that Andy Xie - an economist who left Morgan Stanley after writing an email that described Singapore as a money-laundering hub - wrote in his blog. His conclusion is unambiguous: Sell your bottles of Chateau Lafite, Now. After reading this interesting analysis, I give here some comments on a few points he makes before giving his personal conclusion.

1) "Like other assets, the force for the bubble is the low interest rate environment. Bernanke is a bigger reason for the fine wine price than 1.3 billion Chinese." Andy Xie is certainly right on a short term but on a longer term, we can imagine the Chinese market becoming a huge population of wine consumers (and not only of fine wines).

2) "In the 2000 internet bubble, a lot of companies were worthless but were trading at billions of dollars of market capitalization. Some were really good companies but were priced several times higher than their intrinsic worth. Lafite is like the later." At the time of the internet bubble, share prices for all companies (all and not only a selection of them) were skyrocketing. This is in fact what explained the burst of this bubble in 2000. Today, if there is a bubble on wine prices, it is strictly limited to a very few wines which are in fact of very high quality. For wine - which makes the comparision with internet companies a bit biased - quality is still a major focus when it comes to investment.

3) "The crash happens when the US treasury market crashes, which forces the Fed to tighten monetary policy. That is probably in 2012. Still, now is the right time to sell your Lafite." Right but in this disastrous scenario, we can easily understand that not only Lafite or luxury wines will be concerned. In fact, all assets in general will be more or less impacted by this situation.

4) "By weight Lafite is more expensive than silver even for a bad vintage, and almost ten times as expensive for a great vintage like 1982." This is a very good point and shows how Chateau Lafite created its own bubble in the luxury wine market.

5) "Wine drinkers become hoarders.(...)The top Bordeaux chateaus behave like internet companies in 2000. They sell a small proportion for each release. The shortage triggers market frenzy." At such a high price, you think twice (or even more) before opening a bottle and prefer to keep it for a very special occasion if you do not sell it. So at the end, less bottles may be drunk than in the past, even if it said that these wines are made for entertaining business relationships.

So Bubble? Yes. Burst? we do not know. In fact, due to its rapid and impressive growth, China is facing inflation problem. A fivefold increase in China's M2 supply in the past decade is part of the problem. Raising interest rate will immediately impact investment strategies. And fine wines are more or more acquired to make an investment. In that sense, Lafite prices and prices of some other top wine estates will be affected. But China is a growing market of wine consumers. When you get back to history, you always find good reasons for a specific market to have developped a large population of wine consumers. In China, a broad communication around wine has been made particularly thanks to exclusive and very expensive wines. Chinese read and learn about wine through the stories of the most famous estates and the prices of their wines. So will this bubble burst or not? Only future can tell. But what history will tell is that thanks to this huge hype around top wines, China has discovered a taste for wine and this market will develop nicely in the future to become an important business destination for any wine estate. Without this big hype around Lafite, the aspiration of a large chinese population to discover the great world of wines would have certainly developped much more slowly.(More wine news on www.vitabella.fr)