Next up in our end of year trade talking heads is Elton Muco, deputy head sommelier at 67 Pall Mall, as he reflects on remaining competitive in a challenging environment.
What have you put in place to maximise Christmas trading and what are the early indications so far?
Maximising Christmas trading through our Private Member’s Wine Club involves curating exclusive experiences. As always, this involves solidly structured, seasonal offerings like advent calendars and limited-edition wines, live music and engaging activities such as themed events and social media contests all tied together with festive decor and a refurbished club ambiance. These strategies aim to create a vibrant, appealing atmosphere for members and potential new customers during the holiday season.
What, for you, were the specific highs of 2024?
To be honest, it was a sort of ‘stand by’ year in 2024 due to economic and political events in the country which had an up and down effect for most of the year. However, some of the highs include events like a 20-vintage vertical of Pol Roger’s Cuvée Sir Winston Churchill, back going to 1979, masterclass of Figeac, which made a memorable experience for our members.
And the lows?
Refurbishment disruption in August. While the refurbishment was ultimately a success, the process may have temporarily inconvenienced members or limited access to certain area.
How have the specific challenges of this year contributed to wider drinks trends?
One of the challenges of this year was and will be for some time the increase in price of the wine in main three villages in Burgundy: Chassagne, Meursault and Puligny. As time pass by, our members are more willing to buy and enjoy a Chardonnay from less famous villages such as Macon, Rully, St-Aubin, Pernard-Vergelesses, Mercury and so on. The key words are ‘value for money’.
With the duty easement likely to end in February, how are you looking to mitigate the impact of rising duty on business?
To mitigate the impact of rising duty on business, for us the number one factor is transparent communication. We need to educate members on duty increases and emphasise the quality and exclusivity of our offerings while also working with suppliers to negotiate better pricing. We are also purchasing larger quantities and sourcing wine direct to reduce intermediaries and associated costs. Event Monetisation is another aspect: leverage high-margin events like wine tastings, masterclasses, or themed dinners to generate additional revenue. Last but not least, exclusive products with focus on prestige, limited-edition wines with higher perceived value to justify pricing and protect margins.
As a business, what positives are you looking forward to in 2025?
Looking ahead to 2025, our wine club business can anticipate several positives to build upon the successes of 2024 while adapting to emerging opportunities. A refreshed space provides a strong selling point for membership growth campaigns. Other ideas include exclusive wine and food pairings, international wine showcases, or seasonal celebrations which will expand event offerings. We are also looking forward to having a stronger online presence with consistent, engaging content and digital campaigns. Highlighting sustainable practices, such as working with eco-friendly wineries, to appeal to environmentally conscious members is also a must, as are non-alcoholic trends, which are a reality evolving. We must meet those preferences without compromising the luxury experience.
Quick fire questions:
Ultimate turkey pairing wine?
I would suggest a light red wine from Greece, Xinomavro grape, crunchy fruit, juicy that offers elegance and good structure
Ultimate wine turkey?
Nowadays is very difficult to find a bad wine, but to be honest there are wines that I do like more and are wines that I like less.
Most overrated spirit?
Rum
Most underrated spirit?
Cachaça
Chardonnay or Riesling?
Would love to drink both actually, Riesling first as it has a citrusy character with a refreshing mouth feel. Chardonnay later for its fleshy texture and tropical fruit profile
Port or sherry?
Port, vintage possibly
If you were a type of drink, what would you be and why?
My favourite drink is Negroni (with Antica formula). I really like this as it mirrors my personality: strong character, sweet enough to make the palate drink more and finishing with a refreshing bitterness