You are currently viewing the International Edition. You can also switch to the Hong Kong Edition.
Friday 3 July 2015

Markets respond to ‘stunning’ 2011 Ports

13th May, 2013 by Gabriel Stone

Port producers are reporting significant demand from markets worldwide in the wake of their superlative-fuelled 2011 vintage declarations.

DouroJust two weeks since his company declared its 2011s and with the main US push not due to start until next month, Adrian Bridge, CEO of The Fladgate Partnership, confirmed: “Around the world there is strong interest.”

In addition to healthy demand from established markets, Bridge highlighted recent efforts to reach new customers. “Our own company opened up five new markets in South America last year,” he told attendees of a 2011 vintage Port tasting organised in London by the Institute of Masters of Wine.

Explaining the reason for this healthy interest in the 2011 declarations, he told the drinks business: “It’s a convergence of factors: a great vintage at a time when Bordeaux is selling 2012 en primeurs that are perhaps not as exciting as previous years. So you’re looking at lacklustre Bordeaux versus something stunning come out of the Douro.”

Meanwhile Christian Seely, managing director of AXA Millésimes, who manages both Quinta do Noval – which finally declared yesterday, including the first Nacional declaration since 2003 – and his own property Quinta da Romaneira, stressed the enormous value offered by Vintage Port.

“The best ones are equivalent to premier cru Bordeaux,” he told db. “It’s such an absurd steal that it doesn’t matter so much what the rest of the fine market’s like at the moment.”

However, Seely predicted that the market could soon wake up to this value. “It could easily be about to change,” he observed. “The sharpest investors don’t always look back but ahead. With the expanding world wine market, the big names like Bordeaux are the first thing to be discovered but eventually people discover more exotic aspects of the wine world.”

For Bridge, the quality and accompanying high profile of 2011 looks set to highlight not just the value of this vintage, but also older Ports on the market.

“I’d like to think there’ll be some price appreciation on this vintage, but it’s sure to put the spotlight on previous years,” he commented. “People will see that Taylors 2011 is £60 but £75 gets you Taylor’s ’85. We will see a reflection onto previous vintages.”

However, with prices for the 2011 vintage only slightly higher than Fladgate’s last declaration of 2009, Bridge stressed a desire to avoid the inflation that has affected Bordeaux in recent years.

“Vintage Port is the icing on the cake,” he acknowledged of the category’s relatively minor role in both collectors’ cellars and Fladgate’s own sales figures. “We could charge more but we’re very conscious that our main business is the LBV and other styles.”

However, he noted: “We do like to leave something for the consumer – the difficulty for Bordeaux is that it’s sucked out every bit of cash in the system so the end consumer might not see much price appreciation.”

The 2011 Vintage Port tasting was organised and hosted by the Institute of Masters of Wine at Vintners’ Hall in London.IMW

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

If that's interesting, how about these?

China recognises 'Bordeaux'

China has said it now recognises the term “Bordeaux” as a brand after what more...

Vinexpo: five days 'too much' says organiser

Vinexpo doesn’t need to run for the full five days because no visitor stays more...

BI offers 2014 imperial collection en primeur

Fine wine merchant Bordeaux Index is offering its clients a 10 imperial more...

Warehouse Supervisor

London, United Kingdom

£27,000-£30,000 depending on experience

Oregon producer takes international view

One of Oregon’s youngest wine estates has partnered with Jackson Family Wines more...

Cockburn's to launch ‘lost’ 1977 vintage

Cockburn's is set to release its 1977 vintage for the first time as part of more...

Bordeaux 2005: 12 ‘perfect’ wines

Twelve wines have been given “perfect” 100-point ratings in Robert more...

London Sales Manager / Key Account Manager

London, United Kingdom

Competitive - depending on skills and experience

En primeur: beware the heralded vintage?

From an investment point of view is it best to buy the “vintages of the more...

Chilean brand looks back to move forward

Chilean producer Santa Carolina has launched an “icon” wine with a more...

Castel feeds aperitif thirst

Europe’s largest wine producer, Castel, has unveiled a raft of new products more...

Marketing and eCommerce Manager

London, United Kingdom

Competitive, includes equity options

Australia puts quality centre stage

Wine Australia has pledged to invest AUD$35m annually for the next five years more...

Austrian wine importer launches in Hong Kong

A wine importer specialising in Austrian wines has launched in Hong Kong to more...

Auction house snaps up online wine specialist

Online auction firm Bid for Wine has been sold to The Fine Art Auction Group in more...

Supplier Relationship Manager

London, United Kingdom

Pimm's and English wine sales leap

UK supermarket Waitrose has noted a surge in sales for Pimm's, strawberries and more...

Flavoured styles lead drinks NPD

A new report from Nielsen shows that flavoured variants are dominating more...

Vinadeis unveils Languedoc 'black diamonds'

One of France’s largest wine producers has launched a high-end Languedoc more...

Social Media Editor

Competitive

Cockburn’s wins the boat race

Cockburn’s has won the 2015 Barcos Rabelos race, featuring the boats that more...

Shock over wine named 'dung' in German

A row has broken out over a decision by St Tropez's wine co-operative to name more...

Bordeaux 2005: Biggest movers

Expectation surrounding the 2005s is building and pushing up prices for top more...

PR Manager

Competitive

Yealands sells majority stake

Yealands Family Wines' owner Peter Yealand has agreed to sell 80% of the more...

Sutcliffe steps down from Sotheby’s role

Serena Sutcliffe MW has stepped down from her position as worldwide head of more...