DRC: Asia’s “new Lafite”?

Mounting interest in Domaine de la Romanée-Conti has led one wine merchant to say it could become Asia’s “new Lafite”.

Bordeaux Index founder Gary Boom noted that with prices and orders for the estate’s wines going steadily up, DRC was benefiting from an increasing diversification in Asian buyers interests, which also encompasses the second growths.

He said: “These wines are benefiting from new attention from Asia. Buyers from Singapore and China are definitely being more open-minded, with DRC in particular proving popular.

“We’ve seen a whole host of various DRC wines in all formats being snapped up like there’s no tomorrow. If this level of demand continues, DRC may end up becoming ‘the new Lafite’ in China.”

The burgeoning interest in other châteaux has been noted before by the merchant and with it a falling away of interest in Lafite.

As noted recently by the drinks business, a downward turn by Lafite on the Liv-ex indices has had a negative impact on prices of other wines.

However, Boom denied that the Lafite bubble had burst, pointing to the heightened interest in other wines to show that buyers were simply spending their money elsewhere.

“It’s important to remember this is one part of a much bigger market,” he said.

“Our turnover is up almost a third on last year in spite of buyers turning away from established favourites like Château Lafite and instead seeking wines that are offering better value for money.

“Just because Lafite goes out of fashion doesn’t mean it’s a burst bubble. It just means that there’s not the demand for that particular wine at the moment – and other wines are selling well.”

Boom also attributed a slump in prices to a “correction” of the markets after two enormously hyped and highly priced vintages, which has prompted buyers to look for better value for money in other estates.