Cult Wines Opens Singapore Office
From left, Singapore Office Manager Sam Mudie, Senior Portfolio Managers Ivy Lim and Cris Lu, and South East Asia Associate Sales Director - Nicolas Laurent.
Cult Wines Opens Singapore Office
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.
Sam joined the Cult Wines team in the Summer of 2013, having previously been working as a Portfolio Manager for a competitor. He holds a BSc in Property Agency and Marketing and achieved a Distinction in an additional wine industry module. In October 2013, he was awarded the title of Ecuyer in the Confrerie des Compagnons Goustevin de Normandie and has more recently been asked to reform the London chapter that has been dormant for almost two decades. With over five years under his belt as Senior Portfolio Manager in the London HQ, the offer to move to Singapore in 2018 to set up and manage the new office was hard to pass on. Taking pride in being the only chap in the office with little interest in Football; he instead focuses his attention on “proper sports” such as Rugby, Shooting, and Skiing; and takes general well-being and fitness seriously. When it comes to wine, Sam’s finds it hard to pass on a good Brunello but as he spends much of his spare time in London and Singapore’s top restaurants and wine bars, he’s equally happy taking guidance from Sommeliers on their recent discoveries.
Having watched Cult Wines from a distance since 2015, at hearing news of our Singapore venture Nicolas seized the opportunity of joining us in September 2018 as South East Asia Associate Sales Director, moving away from his four-year posting as Le Club FICOFI Advisor in Singapore, looking after 40+ UHNW Members of the world’s most exclusive wine club, by invite only. There he developed an impressive and extensive knowledge of investment-grade wines through regular events held for clients, and in sourcing them the finest and rarest wines produced anywhere in the world. Prior to that, he spent a combined two years and a half at Wine Connection in Singapore, and Bureau Stephane Fouquet in Bordeaux, as a Wine Speaker and Wine Broker respectively. He holds a Master’s Degree in International Business from KEDGE Business School in Bordeaux, and in 2015 he achieved his WSET Level 3 with Merit. When he does not practice tennis, golf and running, his interests include contemporary art, (fine) dining, cigars, whisky, timepieces, vinyls, and travelling the world. When in Singapore, he likes to mingle with other members of Straits Clan and FrenchFounders. Coming back to wines, and aside from work, Nicolas is driven by his curiosity, and he loves to share bottles (ideally magnums!) from the Beaujolais, Jura and Loire Valley regions, as well as of the new wave of quaffable Californians and Australians.
Cris joins us as a Senior Portfolio Manager from Berry Bros. & Rudd. Having spent six years in their Singapore office since its inception in 2012, first as Fine Wine Sales Consultant and for the last two-and-a-half years as Singapore Manager. Being part of the initial team when BB&R first set up in Singapore will certainly add invaluable experience in getting Cult Wines to full speed as quickly as possible. Prior to joining Berry Bros. & Rudd in 2012, Cris has also spent time as an Account Manager specialising in the on-trade wine business. She was the first recipient within the wine trade to be presented the industrial NTUC May Day Partnership Award. Along the way, she has picked up the Torres Wine Scholarship - Award of Excellence; Western Australia Wine Scholarship – Wine Craft Marketing; Certified Specialist of Wine AND French Wine Scholar; WSET level 3 with distinctions in both theory and practical, amongst many other accolades. Cris is also an adrenaline junkie, who enjoys cycling and scuba diving, she trains and races competitively in outrigger canoeing and dragon boat racing locally and overseas.
Ivy Lim joins the pioneer Cult Wines Singapore team with already over a decade’s worth of experience in the wine industry, most recently spending 4 years as a Fine Wine Sales Consultant at Berry Bros. & Rudd in Singapore and Malaysia. She holds an Honours degree in Business Administration and WSET level 2, with plans to complete level 3 next year. Ivy considers herself a bit of an adventurer, spending as much of her spare time travelling as possible. When it comes to wine, she loves to try various styles depending on the food, mood, and especially company!
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