Why aren't more women investing in wine?
IN THE HEADLINES
The Old Vine Database launched last week, offering the most “comprehensive” database of these vineyards from across the world.
Chile’s southern vineyards suffered from devastating floods last week, with many still underwater, especially in lower lying zones.
The successful US firm, Jackson Family wines, acquires land in Essex, UK, reflecting growing interest in UK vineyards as for the future production of high quality sparkling wine. Jackson Wines has snapped up Charlie Holland, previously chief winemaker and CEO of Gusbourne Winery, who will oversee all winemaking operations.
Jean-Michel Cazes, winemaker behind Château Lynch Bages, dies aged 88 and described by Suzanne Mustacich as a “Bordeaux icon” who “first revitalized his family's winery and then helped rejuvenate the entire region”.
FINE WINE INVESTMENT
Fine Wine Outperforms Among Alternative Assets
A special study by Winecap, focusing on 50 UK-based wealth managers and financial advisers who deal exclusively with high-net worth clients (£100K+), shows fine wine is outstripping other investment assets, providing evidence that wine has “graduated to a genuine alternative asset… alongside other popular alternatives such as hedge funds, real assets, and private capital as well as mainstream assets such as fixed income and equities”.
Why now? According to Jeremy Howard CEO of Cru World Wine, owning fixed physical assets provides protection against inflation and separately, fine wine appeals to a younger generation of investors who prefer the “‘DIY’ approach to owning their own assets”. Read more at The Drinks Business.
Women and Wine
As per above, wine is clearly a lucrative long term investment. Adding to this, Queena Wong points out in an interview with Shirely Mueller for Psychology Today, that because wine is consumable, “taxes do not have to be paid on any gain should it be sold”.
Science suggests that women appreciate the subtle aromas in wine more so than men as from a reproductive age, we are said to be five times more sensitive to a variety of odours.
Yet, despite this, the statistics show that women tend to buy wine at the supermarket while men typically purchase high-end, investment grade wines in specialist stores.
Queena Wong wants to see this change and believes women provide a unique market opportunity in the industry. She recently formed a networking group called Curious Vines to create a space where women can connect and develop their interest and skills in this area. To get involved, reach out to Queena.
MARKET WATCH
Brazil
Statistics show younger Brazilians are converting to wine. While Brazilians drink, on average, 2.2 litres of wine each per year compared to 23.2 in the UK, change is abound among younger generations, who display a particular preference for local, minimal intervention styles in the growing number of wine bars around São Paulo. While the local Brazilian wine is still viewed as inferior to imported alternatives among the older Brazilian community, this is not the case for younger drinkers. Winemakers are replacing copycat styles from Europe with a new, unique Brazilian style: fresher and lighter.
BIOGRAPHY
Jean-Michel Cazes
Suzanne Mustacich reflects on the achievements of Jean-Michel Cazes (formerly of Château Lynch-Bages), for Wine Spectator.
Raised in Pauillac, the journey into winemaking for Cazes seemed unlikely considering he was a sales manager at IBM France with a masters degree was in petroleum engineering from the University of Texas. He never imagined he would return to Bordeaux but things changed upon his grandfather’s passing in 1973 and he came back to assist his father with a “mammoth” task: to restore the reputation of the château which had fallen into disrepair.
His strategy, which prioritised “savvy international marketing” was novel at the time in Bordeaux, and likely influenced by his time in America. For instance, he secured a partnership with Hong Kong airline, Cathay Pacific, where his wine was served in business class. He would later expand the family business holdings significantly and went on to lead the wine business of French insurance company, AXA, helping them snap up the likes of Château Suduiraut in Sauternes and the Portuguese, Quinta do Noval, among others.
