Jul. 27 – China is embracing imported wine faster than any other country. Wine lovers in China develop a special taste for French wine. France had one of its best years on record at the Decanter World Wine Awards 2017 (DWWA), and French regions were well represented in the country’s eight ‘best in show’ medals. Among others, French wine established regions Bordeaux red varietals gain attention.
This year Bordeaux also threw up more surprises, Bordeaux wine estate Chateau Fauchey sold to Chinese investor on July, A Chinese property investment company has acquired French wine estate Chateau Fauchey on the right bank of the Garonne river southeast of Bordeaux, according to an emailed statement from Maxwell-Baynes-Vineyards, an affiliate of Christie’s International Real Estate. The estate comprises the 15th century chateau along with 25 hectares (62 acres) of land, of which 6.5 hectares are AOC Cadillac Cotes de Bordeaux vines, according to Maxwell-Baynes-Vineyards. It identified the purchaser as Profitsun Holdings (Hong Kong), which also bought the estate’s stock of wine, it said. The purchase price wasn’t disclosed.
Investors from China have bought more than 100 Bordeaux wine estates since starting to focus on the area in 2010, seeking both access to supplies of wine for the growing Chinese domestic market and also historic properties which can be used to expand wine tourism.
The sellers were the Emmanuelli family, which bought Chateau Fauchey in 2010, converted it to organic farming by 2013 and established a guest house business in 2014 on the property. Profitsun intends to build on that business and distribute the wines to members of its clubs located mainly in Beijing, Shenzhen and Hong Kong, according to Maxwell-Baynes-Vineyards.
The transaction follows other similar deals in Cadillac Cotes de Bordeaux. In January 2015, Chinese entrepreneur James Zhou bought Chateau Renon in Tabanac, while in December 2014 Hangzhou-based New Century Tourism Group bought Chateau de Birot, a 34-hectare property with an 18th century mansion and 25 hectares of vines, from the Fournier-Casteja family.
While Chinese buyers have generally focused on mid-tier properties typically selling for less than 1mn euros ($1.17mn) per hectare, that has supported demand across the region, where the top 150 estates now command prices ranging from 1mn euros to more than 10mn euros a hectare.
Imported wine in China have been winning the mouth and heart of Chinese wine lovers, middle-class is the main force of Chinese consumers, their spending is shifting from mass to premium segments, they are seeking a more quality life, where health, taste and experiences take priority. Imported wine gain attraction in China, there are more and more Chinese people purchase affordable imported wine in the main cities’ shopping centers, enjoy them in the restaurants and bars. For the List of Chinese Importers for Foreign Wine available upon request, contact with DCCC, or email to: email@example.com