May 7th, 2012
A few weeks ago in the height of Bordeaux En Primeur campaign, Chateau Latour announced that 2011 will be their last year of selling wines in barrel. President of the first-growth, Frederic Engerer announced this bombshell in a letter to negociants, saying the château will now only release bottles when wines are ready to drink.
This will have a big impact on the wine trade especially for negociants and other merchants who rely heavily on selling wine futures. Judging by the flurry of tweets following this news, I think many would agree that this is probably a good thing for wine consumers like us.
Below is a compilation of what people are saying about this move. My apologies – all links are only in English.
Chateau Latour has indicated it will not sell wine en primeur – as a future – from the 2012 vintage onwards. The Pauillac first growth has sent a letter to Bordeaux wine merchants and negociants saying that the upcoming 2011 campaign will be its last vintage sold en primeur.
Lovers of Château Latour used to buying the famed first-growth estate’s newest vintage during the en primeur season may want to hurry. The 2011 vintage will be the last en primeur offering
The news that Château Latour will no longer sell its wines en primeur from the 2012 vintage may well be a blow to 1855′s wallet thinning business model of taking (trousering) money from its clients for en primeur and then delaying delivery as long as possible and, in some instances, not at all.
From my perspective as a serious wine retailer with two decades in the wine biz, Chateau Latour’s recent decision to get out of the futures game did not come as a shock. The chateau has been consistently pulling back the quantity of wine they offer to the negoce on a futures basis for a number of years now and this was merely the fulfillment of a plan that was seemingly hatched a decade ago.
Bordeaux winegrower Chateau Latour will pull out of the traditional “en primeur” or futures market, a vital part of the region’s commercial strategy, in a move geared to Asian markets, industry sources said on Monday.
For decades fine wine lovers have spent thousands of pounds buying wine before it has been bottled in the hope that they will one day own a classic vintage, only to be disappointed.