Vintage 2010 8 July 2011
Bordeaux 2010: Cheval Blanc 'got the price wrong', say merchants
- Friday 8 July 2011
- by Adam Lechmere
- Comments
A senior executive at Chateau Cheval Blanc has vigorously defended the company's policy on pricing the 2010 vintage.
Browett’s problem is that Cheval Blanc 2010 is almost double the price of the 2005, which is now selling at £6,200 a case. ‘Why would you want to buy the 2010 at £10,000 when you can get the 2005 so much cheaper?’
Berry Brothers has the same problem with the wine, choosing not to list it at all and only buying on demand.
‘We were very disappointed with the incredible price Cheval was released at, and didn’t feel comfortable endorsing it. Consequently we have only sold 20 cases, five in the UK and 15 in Hong Kong, and I can't imagine we'll sell more. As a contrast we have sold 750 cases of Mouton,’ wine director Simon Staples told Decanter.com.
At Cheval Blanc, chief financial officer Arnaud de Laforcade insisted that it was too early to tell what the reaction would be to the price.
‘The price is set by the owners, LVMH and [Belgian financier] Albert Frere, in consultation with Pierre Lurton and myself.
'Of course it worries me [that UK merchants are hostile] but It is too early to say if it will be a success or not.’
He added they took the unusual step of releasing 50,000 bottles (4,100 cases), which is 75% of the first wine’s production, in order to give merchants ‘some ammunition in the market’.
De Laforcade told Decanter.com the UK and Europe was a ‘very important market’ for Cheval Blanc and its second wine Petit Cheval.
He said only 30% of their en primeur sales went to China and that accusations that they were intent on wooing the Chinese market were nonsense.
‘Traditionally our sales have been one third to Asia, one third to Europe and one third to the United States. The UK, Germany and Benelux are very important markets.
‘The rumour that China buys all that we make is wrong.’
