Gucci to sell off $18m Cognac collection26th July, 2013 by Gabriel Savage
Fashion scion turned Cognac producer Giorgio Gucci is selling off 5,700 bottles of his own Cognac brand, whose combined value is estimated at around $18 million.
Due to be sold privately as a single lot through US firm Americas Executive Beverage Consultancy, the Giorgio G Cognac collection comprises three different expressions.
At 3,900 bottles, the majority is represented by the Limited Edition XO, a blend drawn from more than 70 grand cru and premier cru sites with these components aged for between 20 and 30 years. Each bottle is decorated with 22 carat gold.
A further 900 bottles come from the brand’s Premier Grand Cru expression, which has been made entirely from Grande Champagne sites, then aged for between 30 and 50 years. This is presented in bottles featuring a “twisted” design.
The final 900 bottles are a Special Limited Edition: a blend of 30-50 year old Cognac drawn from three different regions, of which 50% is Grande Champagne and a further 30% Petite Champagne. Each bottle is presented in a silk-lined cherry wood box.
Although Gucci selected the blends himself, the producer behind these Cognacs has not been made public. However, David Ribbentrop, senior managing partner of ABEC, hinted: “the family has been making Cognac for over 236 years.”
Originally launched in 2010 for a New York party, the Giorgio G Cognacs have since been offered to charity events but, according to Ribbentrop, “there was no plan to really sell it retail.”
With a 60-day purchase window on the collection, Ribbentrop told the drinks business: “We’re already getting interest from some markets without even formally announcing it yet,” as he pointed to early inquiries from the booming luxury spirit markets of Asia and Brazil, as well as a potential buyer from France.
“They drink brandy, they don’t drink Tequila,” Ribbentrop explained of the common link between these markets, although he also suggested: “the US will probably come in towards the end of it.”
In addition the the luxury association, presentation and price tag of the collection, Ribbentrop highlighted it as “a great investment.”
He told db: “I think the timing’s right to release it right now,” noting that Gucci himself is “getting older and the value will go up once he passes on.”