Jean-Michel Cazes’ legacy at Chateau Lynch-Bages
Jean-Michel Cazes, the proprietor of Château Lynch-Bages who died in June, was a pioneer in Bordeaux, not only transforming the winery from a Fifth Growth to reach the second tier of Liv-ex’s classification, but also the Bordeaux wine industry through his pioneering efforts in wine tourism and the co-creation of AXA Millesimes, and Petit Village in Bordeaux. db investigates his impressive legacy.
In June, Bordeaux proprietor and ambassador Jean-Michel Cazes died, leaving behind an impressive legacy.
As the owner of Château Lynch-Bages and Ormes de Pez in Bordeaux, Cazes transformed the Bordeaux wine industry through his pioneering efforts in wine tourism and the co-creation of AXA Millesimes, a group of estates acquired by the French insurance business including Châteaux Pichon-Baron, Suduiraut, and Petit Village in Bordeaux.
Cazes’ impact on Bordeaux as a whole cannot be understated, but here we will focus on Lynch-Bages and how the estate has performed in the last 20 years, which can partly be attributed to the improvements he made while he was at its head. A look at Château Lynch-Bages prices indexed over the past 20 years shows a steady increase with few dips and troughs, even amid a challenging macroeconomic environment such as the 2008 financial crisis.
The effects of a price correction following excellent 2009 and 2010 vintages (and corresponding strong price hikes) can also be seen on the chart on the facing page, followed by more consistent growth from 2016 onwards.
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Additionally, Château Lynch-Bages has demonstrated its strength by consistently outperforming the Left Bank 200, a sub-index of the Bordeaux 500 that comprises 10 vintages of 20 wines from the Left Bank.
In the 1855 Classification, Château Lynch-Bages was established as a Fifth Growth. However, in the latest edition of the Liv-ex classification, which considers trading activity as well as price, it fell into the second tier of wines, a testament to Cazes’ dedication to elevating the estate’s reputation and quality.
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Liv-ex is the global marketplace for the wine trade. Along with a comprehensive database of real-time transaction prices, Liv-ex offers the wine trade smarter ways to do business. It offers access to £81m worth of wine and the ability to trade with 500 other wine businesses worldwide. It also organises payment and delivery through its storage, transportation and support services. Wine businesses can find out how to price, buy and sell wine smarter at: www.liv-ex.com
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