Asia’s love for wines from the Cote d’Or runs deep and has propelled Burgundy’s strong price growth over the past five years (CW Burgundy index is +104% over that time). Now, as Burgundy releases its 2019 vintage, this demand may now be more important than ever.
The 2019 Burgundy en primeur campaign comes amid the ongoing coronavirus pandemic, with lockdown measures in much of Europe and North America limiting travel and in-person tasting events. However, many countries and regions in Asia have maintained better control over the pandemic’s spread, allowing for some in-person events to take place. The ongoing interest from the Asia region supported Burgundy prices in late 2020 (CW Burgundy +12.3% in Q4), and we believe it will form a key driver of the market as the new 2019s are released.
Members of Cult Wines’ global team attended events over the weekend in Hong Kong and Shanghai and can confirm that the love-affair with Burgundy wines remains passionate. Here, we share our team’s experiences and some highlights from the events over the weekend of 22-24 January.
Inside Burgundy China, Shanghai
In Shanghai, our Director of China Jess Yang attended a Friday dinner and an en primeur tasting event on the weekend. Jess also found excellent quality from grand cru down to village level, noting that Echezeaux wines stood out in many cases. Again, many producers impressed, including Hudelot-Noellat and Domaine Coquard Loison Fleurot. Among the whites, Jean Marc Roulot’s Corton-Charlemagne Grand Cru was a favourite due to its seamless blend of rich buttery textures and refreshing minerality, a nod to the impressive balance many winemakers achieved during this warm year.
Amongst the red, Jean-Marc Millot’s Echezeaux du Dessus, Grand Cru, Cuvee 1949 met with high praise from attendees. Many commented on the coincidence that 1949 is also the year the People’s Republic of China was founded, suggesting this wine might find particular interest in the domestic market.
Overall, the event confirmed that Burgundy’s stature is second to none for many in the Chinese market. Despite the global macro challenges, all signs point to a strong take-up of the new wines that could see Burgundy deliver strong returns for investors.