Alexander Westgarth, the Chief Executive Officer of WineCap, has issued a stark assessment regarding the recent Bordeaux en primeur campaign. According to his analysis, the majority of producers failed to meet the expectations of the trade sector when it comes to pricing strategies for high-end wines.
Westgarth focused his critique on a specific subset of the market, identifying 130 "commercially significant" investment-grade wines that were released during this year's campaign. His evaluation suggests that the landscape was largely unfavorable for buyers seeking value. He stated that fewer than ten producers "truly responded" to what he described as the trade's call to offer tempting pricing.
The implication of this statement is that the vast majority of the 130 wines analyzed did not adjust their prices in a way that would be considered attractive or competitive by industry professionals. This lack of responsive pricing from most producers highlights a potential disconnect between winemakers and the traders who purchase these futures.
The comments were originally published on The Drinks Business, a prominent industry outlet. The full article, titled "WineCap: who won on pricing?", explores the dynamics of this year's campaign in greater detail. It examines which producers managed to secure favorable terms and which missed the mark in the eyes of market analysts.
Westgarth’s assertion places significant scrutiny on the Bordeaux wine industry's current approach to en primeur sales. By highlighting that less than ten out of 130 key players offered genuinely tempting prices, he suggests that buyers may have faced limited opportunities for advantageous deals this year. This perspective underscores the challenges traders face when navigating the premium wine market during future campaigns.
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