I recently wrote that Chinese buyers of Bordeaux wines are now also becoming buyers of wine estates in the Bordeaux region. The trend of Chinese investment in Bordeaux estates seems to be gaining momentum as reported by ChinaDaily.
“(Chinese) investment will create a win-win situation since many chateaus are currently experiencing sluggish business and an ever-shrinking market,” Pierre Goguet, president of the Chamber of Commerce and Industry of Bordeaux told ChinaDaily, during a promotional event for the China Dalian International Wine & Dine Festival, which is set to open on July 12.
“More merger deals will mean better growth for those brands that boast quality and time-honored products,” he said. Goguet plans to bring representatives of 90 enterprises from the region to China to meet investors.
“Chinese winemakers have also launched a campaign to team up with world-class chateaus overseas,” ChinaDaily reported.
“A regional branch of Chinese investment firm CITIC broke ground last month on a wine production base in Shandong province in a joint venture with Domaines Barons de Rothschild, parent company of the Bordeaux region’s renowned Chateau Lafite.”