Latour announces huge price increase
- Tuesday 5 June 2001
Négociants are expected to sell each bottle on for around FF950 (US$122.50).
'I'm not at all surprised,' says Bill Blatch of Vintex, a leading Bordeaux négociant. 'After all, judicious rumours were being spread as long ago as December that the prices for the first growths would be high. Everybody knew it – they were just waiting for it to become acceptable.'
Now that one of the first growths has released its first tranche price, the remaining four big-league châteaux and the so far unquoted super seconds are expected to follow suit within the next few days. By the time Vinexpo starts on Sunday 17 June, all initial prices will have been released and the second tranche will follow.
'The other first growths will price themselves at the same level as Latour, and Cheval-Blanc, what there is of it, will be even higher. The difficult task is that of the super seconds,' says Blatch, 'as they will now have to find the middle ground between the large increases of the first growths and the small 10-20 per cent increases of the smaller châteaux.'