24th June, 2014 by Lucy Shaw
Christian Seely, managing director of Pichon Baron and Quinta do Noval owners AXA Millésimes, has revealed that Brazil is proving a “red hot” market for wine sales.
Speaking to the drinks business during a tasting of Quinta do Noval’s dry red wines in London last week, Seely said: “Brazil is a red hot market for the Douro’s top wines.
“They are particularly going for the dry reds, whites and rosés, along with Tawny Port as they can chill it down.
“The success Douro wines are enjoying there means I get to go to Brazil regularly to promote Qunita do Noval.”
Seely also added that wealthy Brazilians are developing a thirst for Bordeaux and are buying up the region’s top wines in large quantities.
“They have huge spending power and are moving beyond the First Growths as they realise there is more value to be had further down the pecking order, which is great news for Pichon Baron,” Seely told db.
“The taxes on wine in Brazil are extortionate at the moment – something like 300%. It’s a similar situation to what is happening in India, which is impeding the growth of the market.
“One way some of the high fliers are getting around the problem is by travelling to New York to buy Bordeaux and bringing the wine back in their private jets.
“Brazil is already a strong market for us so when they lower their taxes it will be very exciting,” he added.
During the tasting Seely was also bullish about the future of the Chinese market. “China is still an important market for us despite the drop in spending on gift giving due to the government’s recent austerity measures.
“It has affected the First Growths far more severely than other châteaux, particularly their second wines,” he said.
“I’m very positive about the future of the Chinese market. Consumers are educating themselves and are fast becoming more savvy and discerning,” he added.