Monday, July 11, 2011
Wealthy Chinese buyers are snapping up the world's most valuable wines at auction and, at home, they are entering a whole new world of wine production, enticing some of the world's best brands to their shores.
Domaines Barons de Rothschild (Lafite) is currently planting vines on property the company bought in Shandong Province. See my story on this on Wine Enthusiast's web site. Moet Hennessy is also planning to make a premium sparkling wine in China.
Wine Enthusiast magazine will soon publish another story I wrote on wine investment and China figures into this story, too. Chinese buyers are actively involved in making wine one of the most dynamic of the so-called "investments of passion." The Chinese seem to have a special affection for First Growth Chateau Lafite, but it doesn't stop there.