▻ Omnibus XXXII
Brought to you by our Founder Sponsor SANTA RITA ESTATES.
Episode Summary:-
This month’s Omnibus covers all the major stories from the world of wine, and delves into some of the more obscure ones too. The biggest story this month is the tragic tale of what is happening in Lebanon, where wineries are being bombed. John Stimpfig reports on the plight of winemakers in the Bekaa Valley and Sarah Kemp recounts how Marc Hochar emailed her and told her, “it’s a catastrophe.” Our thoughts are with all caught up in this dreadful conflict.
Back in Britain, John reports on the official opening of Taittinger’s Domaine Evremond, its English sparkling wine, which has been created in partnership with Hatch Mansfield. The vineyard is situated in Chilham in Kent, where 60 hectares of Chardonnay, Pinot Noir and Pinot Meunier have been planted. The Taittinger team of chef de cave Alexandre Ponnavoy and viticulture director Christine Rinville are in charge. John reports that the cuvee which will be released next Spring is aperitif in style and very pure.
In our monthly Weather Watch John reports that severe Spring frosts have affected South Australia, with the Barossa and Clare Valley particularly hit, whilst the Riverina lost 20 percent of its crop. Europe was battered by Storm Boris, with Central and Southern Europe suffering from strong winds, rains and hail damage. In Italy, Emilia Romagna and the Marches were badly hit, and in Bolgheri 200 mm of rain fell in 6 hours, one-third of the expected annual rainfall (however, it appears the vines themselves have not been badly affected).
France and Italy are seeing reduced crops, with Italy suffering drought in the south and excessive rain in the north. John predicts there will be pressure on stocks, especially white wine. France has had a small vintage, with Burgundy and the Loire beset by mildew and poor fruit set. Overall, French wine production fell by 18 percent, and it has lost its spot as Europe’s biggest producer of wine, to Spain. Beaujolais production was down 25 percent, Loire 30 percent, and Champagne 19 percent, but the worst place in France was the Jura, down by 71 percent.
Just as Sarah asks who’d be a wine producer, John points out that owning the right vineyard can be financially lucrative. One year after Domaine Artemis sold William Fèvre Chablis to Domaine Barons de Rothschild (Lafite), the cost of the purchase has been revealed in the company’s financial filings. According to the filing, DBR Lafite paid US$99-million for the purchase. It may sound expensive, until you put it in the current context; for example, Bernard Arnault of LVMH spent €15.5-million on 1.3 hectares of Grands Cru vineyards in Burgundy.
If you are despairing of ever buying anything from Burgundy due to the astronomical prices, think again. On November 12th, the BIVB will be selling off road signs from the region, which are due to be replaced. Those for Grands Crus names are estimated to fetch between €100-€500, and Village place names €50-€300. You can bid online at Drouot.com and be the owner of a part Burgundy history.
Astronomical sums of money seem to be a theme this month. Elin McCoy, our US Editor, reports that Duckhorn Portfolio, which was the first wine company to go public, has been bought by private-equity company Butterfly for US$1.95-billion. The Duckhorn portfolio includes Duckhorn Vineyards, Calera, Sonoma-Cutrer, Kosta Browne and others, and collectively produces 2.6-million cases a year. Butterfly have announced they are on the acquisition trail, and Elin wonders which other wineries they will be looking at, as she assesses their strategy.
Still in the investment space, Elin discusses the news that LVMH have invested in an alcohol-free brand, French Bloom, which was co-founded by a relative of the Taittinger family. Elin discusses the idea that LVMH’s investment is a clear sign that low- and no-alcohol wines are not a fad.
Elin has also just returned from California, where harvest was in full swing. “This is their year,” she announces, as everything is looking good, and many vintners are declaring it the best vintage ever. While in California, she attended the World’s Living Soil Forum Conference. “The wines we drink are only as good as the grapes on the vines, which are only as good as the vine’s health, which is only as good as the soil their roots are growing in.” she declares One of the topics which caught her imagination was how to refashion your vineyard. At Joseph Phelps, they are mapping the water sources under the entire 600-hectare property. Elin was impressed with the knowledge being shared and commended Moet Hennessy for sponsoring the conference.
As restaurant wine lists have caused many an anxious moment it’s great news that the latest World of Fine Wine awards have been announced (a declared interest: Elin has been a judge since their inception). The biggest trend she notes is the expansion of organic and biodynamic lists. The overall winner is a relative newcomer, La Cuverie by Comte Liger-Belair in Vosne-Romanée in France. The wine list of the year, Pappas Bros Steakhouse, in Houston, Texas, impressed Elin by breaking down its list into special sections, including Grand Marques and Grower Champagne to drink with red meat. Another category which has grown is Saké, but the one Elin welcomed most of all was Value. There had been a strong effort, especially with new restaurants, to list good-value wines. The winner of the value category was Doppo, in Soho, London, with 50 wines under £50, all delicious, Elin confirms.
Still in London, there’s the news that Britain’s oldest wine merchant, Berry Brothers and Rudd, is entering the online-auction business. It makes total sense, Elin believes, as they already have the customers, an online exchange, an authentication department, and a spirits business. They are launching with a competitive buyers’ premium, of 20 percent.
Have you invited a friend over to drink a bottle of wine with you this October? If you have you will be part of the “Come over October” movement, which was set up by writer Karen McNeill to combat the unfortunately recurring anti-alcohol backlash. Karen, launched the movement with a couple of PR professionals, and it was enthusiastically backed by wineries and distributors – the message has reached 1.5 billion people so far. Sarah and Elin applaud its aim, but confess that they believe you should share wine every month of the year. As Elin says, “The whole idea about wine is not investment, it is not getting drunk, it’s not any of these things, it has always been about sharing a bottle with your friends.” Salud!
Running Order:-
-
0.00 – 21.15
“France will lose its spot as the biggest producer of wine to Spain.” – John Stimpfig
– The war in Lebanon – tales from the vineyards.
– Launch of Domaine Evremond, Taittinger’s English Sparkling Wine.
– Weather watch – Europe’s Storm Boris and Australia’s hard frost.
– Harvest report – France’s reduced harvest, with Jura production down 71%.
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21.16 – 28.52
“Bernard Arnault bought 1.3 hectares of Grand Crus Burgundy vineyards for 15.5 million Euros.” – Elin McCoy
– William Fèvre Chablis purchase price by DBR Lafite (Rothschild).
– Bernard Arnault buys 1.3ha in Burgundy for €15.5 million.
– The upcoming auction of Burgundy’s road signs. -
28.53 – 40.40
“Napa and Sonoma – this is their year!” – Elin McCoy
– Duckhorn Portfolio sold to private-equity company Butterfly for US$1.95-billion.
– LVMH invest in no-alcohol brand French Bloom.
– California harvest report. -
40.41 – 01.04
“The whole idea that wine is not an investment, not about getting drunk, what wine has always been about is sharing a bottle with your friends.” – Elin McCoy
– The World’s Living Soil Forum Conference.
– World of Fine Wine Restaurant Awards.
– Berry Brothers launch online auction.
– “Come over October” movement.
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From how vintners are coping in the Bekaa Valley to the major winery sales, one worth 1.95 billion US dollars - there is much to discuss. Find out how you can buy a little part of Burgundy history (road signs are coming up for auction), check our weather watch and harvest reports and much, much more. Brought to you by our Founder Sponsor Santa Rita Estates.