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Wednesday Wraparound: Parker on futures, those “miracle” 2014s, and—Parker on futures, not!

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If, as Bob told The Drinks Business (and who would know better?), Bordeaux en primeur futures are “largely dead,” then good riddance, says I. I never did care for this futures stuff.

I mean, what purpose did they serve? Maybe once upon a time wine lovers could get a “bargain” by buying en primeur, but those days are long gone. I’m not entirely sure what killed them off, but surely the Internet had something to do with it. eBay? I don’t know for sure, but I bet much, if not most, en primeur Bordeaux is bought strictly for flipping. Something drove prices up so drastically that, as Parker himself points out, [producers] started raising the prices [on futures] higher and higher, so you were being asked to pay prices for unbottled wines two years before you received them for prices that will essentially be the same as when they came out…”.

That doesn’t make much sense—to tie your money up like that, in essence lending it to the chateau interest-free.

It’s funny how powerful is Parker’s influence. Even though people say his day is over, he’s still the 800-pound gorilla in the room, especially in Bordeaux. Decanter just wrote an article, How to buy en primeur, in which they said that, while the system can be complicated (involving not only the chateaux but negociants and merchants), there seems to be little sign of change in the offing, and the system does work.” Well, not according to Parker, it doesn’t. And I believe Parker.

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Meanwhile, speaking of Bordeaux, how long will they continue to hype their vintages? As long as there are enough gullible people around to believe it. Here’s the latest on the 2014s, “a ‘great, miracle’ vintage that is close in style and quality to the exceptional 2010s,” according to a Bordeaux winery general manager. (There’s objectivity for you!)

How many times have we heard of a “vintage of the century” or “the greatest vintage since [fill in the blank]”? And it’s not just Bordeaux, it happens in every great wine-producing region. P.T. Barnum would be pleased to learn that his admonition about suckers is truer than ever when it comes to selling wine.

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Finally—to reprise both Bordeaux and Bob Parker—his stepping down from reviewing en primeur—which he announced after giving The Drinks Business his gloomy prognostication on Bordeaux futures—is not the earth-shattering asteroid crash some writers have made it out to be. It was time for him to move on, a decision only he could make, and one into which not too much should be read, except this: as many have pointed out, no critic will ever have Bob’s influence. On balance, that influence has been a very healthy one for the wine industry. Bob was responsible—not entirely, but largely—for wine’s explosion in popularity in the 1980s and 1990s, when media all over the world trumpeted his achievements. More than anyone else, he made wine important. He glamorized it—the way an Oscar elevates a movie. We here in California ought to thank him, too, for he was/is the ultimate non-snob. He said that California wine could be as good as French at a time when many people didn’t want to hear it (and still don’t). I, personally, never begrudged him, as did some critics. In fact I’d venture to say that if it hadn’t been for Bob, there might not have been a Wine Spectator or Wine Enthusiast—and even if there had been, they wouldn’t have become as influential as they did, because he blazed the trail. He cleared the way. He set the style—and will, even after he retires. Bob Parker was the Sinatra of wine critics: The chairman of the board.

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I’m up in Sonoma Valley today, at Richard Arrowood’s Amapola Creek Winery, where he’s hosting a 40-year retrospective tasting of some of his wines. I respect and admire Richard so much. He was a big part of my first book, A Wine Journey along the Russian River. I’ll write about this historic tasting tomorrow.


That new Bordeaux ad campaign wants it both ways

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There is something fundamentally oxymoronic about the Bordeaux Wine Council’s new advertising and branding campaign, reported on the PRNewswire.

On the one hand, it emphasizes “innovation” through the use of taglines such as “There is so much to discover.” This implies something New Worldy about Bordeaux: it is not old and tired, but youthful and exciting, a place of endless reinvention and creativity. (Actually, I thought that was California’s claim to fame!)

On the other hand the campaign also stresses “maintaining Bordeaux traditions.” This obviously is meant to appeal to the broad stratum of international perception, possibly subliminal, that Bordeaux is all about ancient history and venerability; what Professor Saintsbury called (as Claret) “the queen of natural wines.”

One can spot the internal contradiction immediately: A thing cannot simultaneously be modern as well as traditional. At least, it can’t in reality—that is squaring the circle–but it can be in the magical thinking of a marketing campaign that contains a little bit of something for everyone. Thus the contradictions exist, side by side.

For the last several decades, Bordeaux has struggled with this identity crisis. It knows that a younger generation doesn’t give a hoot about its history and tradition, so it needs to appeal to them by making Bordeaux seem modern. This is the thinking behind the Council’s “Today’s Bordeaux” meme, wherein wines costing $55 or less are recommended as having been tasted by “our Wine Buffs.” Wine Buffs? Professor Saintsbury is turning in his grave at this crime of Franglish—an Americanism that would otherwise be condemned by the French as vulgar. “Wine Buffs” indeed! Good heavens, imagine telling Baron Rothschild he was a Wine Buff!

I certainly don’t blame the Bordeaux Wine Council. They have to market, same as everyone else; they’re just trying to find a formula that works. Why now? This is the ideal time for a re-invented brand identity,” the Council’s president said. It’s ideal because the world is emerging from the Great Economic Slowdown (at least, we hope it is) and people seem a little more willing to spend money on wine. And then too, the Millennials are getting older and they want their wine. But just as important as “Why now?” is the question of “Where?” The seven markets the campaign will focus on are the U.S., France, U.K., Germany, China, Belgium, and Japan—in other words, Bordeaux’s traditional markets, plus China and Japan, which is where the money is in East Asia.

Bordeaux always has been about aspiration, and the Council is betting it still is. For all the talk about Millennials being qualitatively different from Baby Boomers, it turns out that they’re just as conventional as their parents and grandparents. Millennials are ambitious, strive for career success, and they seek a satisfying personal life beyond work. They’re into “personal authenticity” (who isn’t?) and “want to spend time with their families and fulfill career aspirations.” They are, in other words, yet another “wants it all” generation. And part of “having it all” is, of course, the Good Life, which involves good food, good wine and what we here in California think of as a Sunset Magazine lifestyle. That fits in well with the Bordeaux Wine Council’s strategy. It may be a little oxymoronic to mosh traditional and modern together into one big, unwieldy package, as I said; but then, the lives of Millennials, as of us all, are oxymorons. “Do I contradict myself? Very well then I contradict myself, (I am large, I contain multitudes.)” Walt Whitman, who I bet liked to drink, would be 195 years old, if he was still alive.

Walt


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