Cult Wines, the leading global fine wine investment advisor, has announced the opening of a new Singapore office as it continues to see increasing demand for investing in fine wine among local and regional-based clients.
- Rapidly increasing demand for fine wine as portfolio diversifier amongst local and regional investors.
- Expansion into Singapore and Southeast Asia part of strategy to accelerate growth in Asia.
- Cult Wines sees revenues in Asia increase 84% YoY, reaching £20m / S$35.8m for the year ending 30th August and accounting for 38% of global sales.
- Report highlights how fine wine outperforms equities and gold during periods of economic uncertainty.
Cult Wines’ Singapore opening further strengthens the firm’s growing presence across Asia, having established offices in Hong Kong and Shanghai in 2016 and 2017 respectively. The new office marks Cult Wines’ foray into the burgeoning Southeast Asian market, to meet the surge in demand for investment-grade fine wine among buyers based in Singapore, Thailand, Indonesia, Malaysia and the Philippines.
A network of partnerships with leading global and regional banks, private wealth managers and investment advisors has been key to Cult Wines’ growth. In Singapore, Cult Wines has established relationships with a large number of private banks and wealth managers over several years, which have proved to be very successful for the end clients of these institutions.