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What does China like and why?
China’s fine wine demand is set to increase in line with continued economic expansion forecast for the East, but what does the Chinese consumer look for in a luxury label?
This month’s drinks business fine wine power list identified a range of cues that appear to entice the Asian buyer, as well as highlighting the wines that are already winning.
Essentially it seems the Chinese want the best of any product, and have deemed Lafite as the finest of fine wines – a reasonable conclusion as it is the highest scoring first growth in the Liv-ex Power 100 survey, as featured in December’s edition of the drinks business
But its success, and that of others, is also linked to brand image and packaging, even pronunciation in Chinese.
Looking at the leading wines in terms of price appreciation over the last 12 months – which is essentially recording the ramped up consumption in Asia – it is, in order, Carruades de Lafite, Duhart Milon, Lafite, Beychevelle and Clerc Milon.
Aside from the fact these are all left bank Bordeaux available in commercial volumes, the look of the bottle is vital.
Certainly a distinctive etched label is important, something that is evident in Lafite and its look-a-likes, Carruades and Duhart Milon.
As for Beychevelle, that has the easily recognisable boat, while Clerc Milon has a memorable image.
Then there’s pronunciation: Lafite for example is easy to say – the Chinese call it Lafay.
It’s a similar story in Britain, where historically there’s been a following for easy-to-say fine wines too, such as Talbot or Léoville Barton.
Finally, could the sustained demand for Lafite – as well as Carruades – be partly due to a top end hotel just outside Beijing? It’s called Château Maisons-Laffitte and was built by Chinese real estate mogul Zhang Yuchen to replicate the original in extraordinary detail, from the sculptures to the gardens.
It operates as a spa and wine museum, as well as luxury hotel.
As for Château Latour, it’s worth pointing out that when this first growth is translated into Chinese characters, it means “to collapse”.
This might explain why it’s not more regularly consumed at corporate events.
Patrick Schmitt, 17.12.2009