Asia fine wine demand sends BI first-half 2017 sales soaring
An air of optimism pervades, after a ‘phenomenal’ 2016 Bordeaux en primeur campaign accompanied by a leap in export-led demand across the board
ASIAN FINE WINE buyers and the ‘most successful Bordeaux en primeur campaign in seven years’ have helped wine trader BI to a healthy rise in sales in the first half of 2017.
A jump in Asian demand has reportedly boosted BI’s sales to £50 million in the first six months of 2017, an increase of 43% compared to the same period in 2016.
BI, formerly known as Bordeaux Index, attributed the surge to clients in the Asian region taking advantage of more favourable exchange rates, thereby accounting for 50% of the merchant’s total sales in the half-year.
Bordeaux 2016 en primeur generated £14 million, versus £8.5 million for the 2015 vintage campaign, BI said – proving that it certainly wasn’t a disappointment for everyone.
This led to a 49% increase in BI’s overall Bordeaux wine sales in the half-year.
Sales of Burgundy, Champagne and US wines were up by more than a third, the company said.
The positive results also offered some hope for the UK market, with UK buyers accounting for 70% of Bordeaux en primeur sales, despite domestic concerns about the impact of sterling weakness and continuing political turmoil.
BI’s Asian success was led by its LiveTrade platform, which it said generated a turnover of £17.2 million in the six months and saw Asian traders responsible for 70% of sales.
BI added that it has also seen a 79% increase in rare spirits sales, heavily driven by Asia-based buyers’ interest in rare whiskies.
In France, the Rhône could be a region to watch, BI said. Sales of wines from top producers, including Château Rayas, JeanLouis Chave and Henri Bonneau (pictured left), have risen 64% so far this year.