You need a "visionary eye" in order to anticipate where best to invest in fine wine production, says Moet Hennessy chief executive of estates and wine Jean Guillaume Prats.
You need a "visionary eye" in order to anticipate where best to invest in fine wine production, says Moet Hennessy chief executive of estates and wine Jean-Guillaume Prats.
Speaking at the Wine Vision conference earlier today, Prats told delegates that if creating a vineyard in a certain location "was feasible, it would have been done already". The company takes into account a complex list of factors before deciding where to plant.
This wide ranging list includes the weather, soil and access to water as well as having the correct root stocks in place. The banking and tax systems are also crucial to consider - how you will get your cash out. Economies like Argentina, with its 40% inflation, and South Africa, where the Rand is "a bit tricky" can influence decisions.
Political stability is a major deciding factor, with many companies investing substantial amounts in re-establishing vineyards in Lebanon and Syria where "today life is absolutely impossible".
The road system and logistics also plays a part - but Prats pointed out that often risks must be taken to find the right sites. Its Shangri La estate in south west China is quite inaccessible - it recently had to rescue drivers from the route.
It's important also to consider the expatriate life there - school and healthcare provision for example - as you have to be able to recruit winemakers to live there.
"You need a visionary eye and to anticipate trends," he said. "Who would have thought that Castel would be planting vineyards in Ethiopia or that Douro wines would come top in the Wine Spectator lists?"
Some factors that the most expensive wines have in common are their quality, the "face" behind the wine, its perception, the fact it can be hand-delivered, and limited local competition, as in the case of Yquem.
He explained that the Chandon concept is "very unique". "It's the only brand that has six origins, with common labels, processes and grapes. But we have to consider, do we want to sell one wine in the UK or all six? And do we want to export them? Should we get a South African Chardonnay to target Africa, or one made by the Crimean Sea for Russia?"
He also said that watching what other brands are doing, outside of the wine industry, is an important driver. "Nigeria is the number one market for Louis Vuitton clothes for men," he said.
He also warned that the industry must consider organic farming more. "Do we really want to be producing somewhere we need chemicals?".
You need a "visionary eye" in order to anticipate where best to invest in fine wine production, says Moet Hennessy chief executive of estates and wine Jean-Guillaume Prats.
Speaking at the Wine Vision conference earlier today, Prats told delegates that if creating a vineyard in a certain location "was feasible, it would have been done already". The company takes into account a complex list of factors before deciding where to plant.
This wide ranging list includes the weather, soil and access to water as well as having the correct root stocks in place. The banking and tax systems are also crucial to consider - how you will get your cash out. Economies like Argentina, with its 40% inflation, and South Africa, where the Rand is "a bit tricky" can influence decisions.
Political stability is a major deciding factor, with many companies investing substantial amounts in re-establishing vineyards in Lebanon and Syria where "today life is absolutely impossible".
The road system and logistics also plays a part - but Prats pointed out that often risks must be taken to find the right sites. Its Shangri La estate in south west China is quite inaccessible - it recently had to rescue drivers from the route.
It's important also to consider the expatriate life there - school and healthcare provision for example - as you have to be able to recruit winemakers to live there.
"You need a visionary eye and to anticipate trends," he said. "Who would have thought that Castel would be planting vineyards in Ethiopia or that Douro wines would come top in the Wine Spectator lists?"
Some factors that the most expensive wines have in common are their quality, the "face" behind the wine, its perception, the fact it can be hand-delivered, and limited local competition, as in the case of Yquem.
He explained that the Chandon concept is "very unique". "It's the only brand that has six origins, with common labels, processes and grapes. But we have to consider, do we want to sell one wine in the UK or all six? And do we want to export them? Should we get a South African Chardonnay to target Africa, or one made by the Crimean Sea for Russia?"
He also said that watching what other brands are doing, outside of the wine industry, is an important driver. "Nigeria is the number one market for Louis Vuitton clothes for men," he said.
He also warned that the industry must consider organic farming more. "Do we really want to be producing somewhere we need chemicals?".