Failed French wine brand Chamarre has been given a lifeline in the form of former Cartier president Alain Dominique Perrin.
Chamarre launched in 2005 but went into receivership in May 2010.
Perrin owns Chateau Lagrazette in Cahors, and is executive director of group Richemont, which owns Cartier, Van Cleef & Arpels, Piaget and Montblanc among other luxury labels.
He is also a member of the International Board of the Tate Gallery in London.
Chamarré was launched as a challenge to New World wine brands by OVS (Opéra Vins et Spiritueux), and in 2007 became the first French wine company to be floated on the stock exchange, the pan-European platform of Euronext, raising €7.2m in capital.
Sales never reached expectations however, and the backing, which included business loans from the French government, dried up.
Perrin is the chief shareholder in a company, understood to be based in the Rhone Valley, that is investing in the brand. Former Chamarré CEO Pascal Renaudat remains with the company.
An industry insider who did not wish to be named told decanter.com, ‘This is a strong brand with good potential, but the new owners need to look carefully at what went wrong last time.’
Sources at both Perrin’s office in Switzerland and the Chamarré head office in Paris confirmed the investment, but were not available for interview.
picture of Alain Dominique Perrin courtesy of www.wineanorak.com
Written by Jane Anson