En pleine forme à l’export, les grands crus de Bordeaux lancent leurs ventes en primeur
Posted Apr 21, 2022, 2:10 PM
Large tables, open bottles and silent professionals tasting wines from the glass in hand practically at the chain. Next week, some 4,500 French and foreign professionals are expected in Bordeaux to taste the 2021 vintage on the occasion of Primeurs Week organized by the Union des grands crus de Bordeaux, which brings together the 130 properties that make up the elite of the Bordeaux vineyard. . Due to the pandemic, this flagship event had been canceled for two years by the sending of samples and tastings by videoconference.
This year, it is therefore back to normal with the absence of Chinese visitors but the strong presence of Americans, British and Europeans. The grands crus are in fact sold for the most part abroad, while the French market does not represent more than 20% of the compounds.
Export, on the other hand, is doing wonderfully with a turnover of more than 1.3 billion euros in 2021 according to Customs. With 16 million bottles, sold for more than 22.50 euros each, the volumes are modest compared to the 500 million bottles produced in Gironde. These grands crus are, on the other hand, very heavy in value and represent 60% of Bordeaux wine exports.
Wine still in barrel
The grands crus even surpassed their best sales, which dated from 2012, by 15%, even if this record is partly thanks to importers who have reconstituted their stocks after the pandemic. “The first destination remains Greater China, but growth is now driven by the United States, which has become the most dynamic market followed by the United Kingdom, then Switzerland and Germany”, analyzes Ronan Laborde, President of the Union of Grands Crus.
A good part of this activity is thus carried out thanks to sales of en primeurs. “This commercial system makes all the originality of Bordeaux. This week of primeurs is our marketing moment and allows us to present our wines and explain to customers how we have worked”, summarizes Nicolas Glumineau, Managing Director of Château Pichon Comtesse. En primeur sales, which are very specific to Bordeaux, consist of pre-selling a wine that is still being matured. The 2021 vintage, harvested last fall, is still in barrels.
This primeurs week is our marketing moment and allows us to present our wines and explain to customers how we have worked.
After the tastings and the publication of the notes by the critics and the specialized journalists, the wine will be put on sale by the properties from next May to be delivered eighteen months later. The distribution system benefits a priori all the links in the chain: the properties fill their cash, the merchants make a margin on sales and the customers have the hope of seeing their wine increase in value.
Fewer sales
Therefore, the success of this campaign is obviously linked to the tastings. Especially since after several excellent vintages, the 2021 marked by lower temperatures and rain will be of lower quality. A weather that has not only had inconveniences. “Both sweet and dry whites are exceptional. As for the reds, they are less marked by global warming than previous vintages with less alcohol and an ultimately very classic profile,” notes Georges Haushalter, vice-president of the FranceAgriMer specialist wine consultant.
However, en primeur sales are less massive than in the past. “Properties now have very diverse policies. Some continue to market more than 90% of their production and others only market half of it during primeurs. Keeping the rest to sell it later with a better valuation”, analyzes Georges Haushalter.
For it to be successful, the campaign will also have to moderate the temptation of wine chateaux to drive up their prices. “You have to keep a consistent pricing policy so that at each link in the chain, stakeholders earn money,” warns Nicolas Glumineau.