Paul Hobbs: ‘corrective steps’ necessary before market recovery

Despite conditions in the fine wine market being perhaps the most difficult in a generation, winemaker Paul Hobbs has insisted there are opportunities, particularly for small and boutique fine wine producers, even if the market does need “corrective steps” in order to recover.

It’s easy to see that the global fine wine market is in the doldrums – the market conditions are perhaps the most difficult in a generation. But winemaker Paul Hobbs has insisted there are opportunities, particularly for small and boutique fine wine producers, even if the market does need “corrective steps” in order to recover.

Hobbs has rapidly established himself as an hors Bordeaux star of La Place, with the launch of Viña Cobos from Mendoza on the distribution system in 2022, followed by Cristina’s Signature 2020 from Coombsville in Napa Valley the following year. There is, he noted, “a sense of a more complex year”, but the opportunities, “for small and boutique fine wine producers like ours”, remain. “We identify potential across various markets, focusing our efforts with La Place and our importers on these opportunities, working closely with them, visiting the markets, communicating the particularities of our wines, and striving to improve our quality each year,” he said.

Strengthening relationships and supporting distributors to ensure the winery is telling its story, and representing its wines “on a personal level”, are key in a challenging year, he insisted.

“Covid unsettled the world more than I think many imagined, and the recovery continues to be a long and windy road,” Hobbs said. So have we hit the bottom, or will we be scraping along there for a while longer before we see a recovery? “What I don’t see is a rapid rise out of this,” he explained, adding that some markets have needed some kind of “correction”before recovery can really be possible.

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“But I’m an optimist and … we will do our part in bringing forth our best while we work through to better times.”

While La Place is “an excellent channel for promoting and distributing luxury wines”, it requires “prior groundwork that is appreciated by consumers”, Hobbs said, notably through farming practices, winemaking and branding. “This ensures that when wines arrive on La Place, they are ready to stand alongside the world’s best.”