22-30 Fine wine power list:Layout 1 19/11/09 17:17 Page 22 FINE WINE POWER LIST Named and famed The Liv-ex Power 100 identifies the world’s strongest wine brands, using an exhaustive cross-section of measurements to come to its conclusions. The Far East has an unsurprisingly large impact – and interestingly it transpires that a wine’s literal Chinese translation may play a determining role in its success 22 22-30 Fine wine power list:Layout 1 19/11/09 17:17 Page 23 Liv-ex Power 100: Top 10 Trade on Average Average 1 year Weighted Liv-ex score price performance production Label Rank Total score Last year Move Result % Rank Result Rank Result Rank Result % Rank Result Rank Bordeaux Lafite Rothschild 1 23 6 +5 23.00 1 95.70 9 4,187 7 26.64 3 73,263,894 3 Bordeaux Mouton Rothschild 2 82 4 +2 9.25 3 94.60 20 2,771 16 9.84 39 69,271,523 4 Burgundy DRC 3 88 1 -2 2.36 9 95.90 7 12,693 2 6.46 68 82,502,147 2 Bordeaux Pétrus 4 143 10 +6 2.92 8 94.50 26 14,519 1 0.97 99 43,557,600 9 Bordeaux Latour 5 156 2 -4 11.76 2 94.90 17 3,635 10 -5.58 122 53,071,000 5 Champagne Krug Vintage 6 157 3 -3 8.00 22 96.00 5 1,806 34 3.35 88 45,150,000 8 Bordeaux Angelus 7 157 13 +6 1.30 15 94.50 26 1,136 46 11.84 28 7,668,416 42 Bordeaux Margaux 8 167 9 -1 5.77 4 94.80 19 3,036 14 -5.59 123 50,605,423 7 Bordeaux Ausone 9 174 7 -2 2.09 11 96.90 2 7,732 5 -11.36 131 11,597,633 25 Bordeaux Haut-Brion 10 175 20 +10 5.31 5 94.90 17 2,656 18 -6.20 124 29,216,000 11 UNFOLDING OVER the following pages is the recovered, but that demand in Asia, above Liv-ex Power 100, the only survey that rates IFYOU ARE A MERCHANT all China, has strengthened, pulling the fine and ranks fine wine labels according to the wine market out of recession. strength of their brand. Crucially, it’s not YOU ARE GOINGTO dependent entirely on price – as was the Asian persuasion basis for Bordeaux’s infamous 1855 PROMOTETHEWINETHAT Crucially, the number of Chinese fine wine classification. Neither is it a result devised YOU’LL MAKETHE MOST consumers has increased along with this according to production alone, or even just country’s GDP and Lafite is Asia’s most the volume traded on the secondary market. MONEY ON AND LAFITE desired fine wine brand. In fact, if one looks It’s also not an assessment using nothing WILL PAY A LOT OF at the penultimate column, the top five wines more than commentators’ scores. No, this ranked by “one-year performance”, all are unique study is an examination of all these THE BILLS labels loved in the Far East: Carruades de factors – price, trade, score, and production Lafite, Duhart Milon, Lafite, Beychevelle and – aggregated and averaged, before November 2009’s results can be used to Clerc Milon. Why these brands? Speculation acknowledging price appreciation over the chart the progress of fine wine brands year surrounds the adoption of certain wines over last 12 months, to determine the “power” of on year. others, but, as James Miles, Liv-ex director, any particular fine wine. Yes, this may be a Now, having emphasised the nature and suggests, “These are all traditional clarets: subjective concept, but it is measured using value of the Liv-ex Power 100, we can turn to they are all left bank wines that are made in tangible and traceable factors. the trends that it reflects, before looking in decent volumes.” So, while DRC may be the most expensive detail at any results that surprise. Lafite in particular benefits from its wine traded on this list, it’s not the fine wine It must firstly be noted that this year’s pronunciation in Chinese: lafay , “which rolls trade’s most powerful brand. Why? Its 6,500 list is markedly different to 2008’s Power off the tongue nicely”, points out Miles. It case production is not enough to rock the 100 because the market is in a more also outscores the other first growths; the market. Then there’s Taylor’s Port: yes it has settled state. Essentially, the panic that châteaux has now bought a vineyard in the highest average Parker score, but not the characterised late 2008 has passed. Last China, and has, like other top clarets, a price appreciation to entice, for instance, the year’s scores, like this year, were compiled in website in Chinese. Still, no one is quite sure fine wine fund manager. As for one-year November, and therefore incorporated the why it has such a following. What is clear is price performance, Carruades de Lafite October, post-Lehman market crash, which that its leading position is being continually can’t be beaten, but it lacks the scores or affected the first growths – the most liquid enhanced, because “if you are a merchant long-term average prices to trouble the first labels – first, and hardest. you are going to promote the wine that you’ll growths – that is, yet. During this time the trade was witnessing a make the most money on and Lafite will pay In other words, it is only when one looks at 20%-plus drop in prices of Bordeaux’s a lot of the bills”, Miles says, adding that this a range of criteria that one can get an leading labels, and so poor were the one- one brand has accounted for 23% of the accurate sense of the true strength of any year performance results, Lafite, for business through Liv-ex this year alone. one of these impressive products. And that’s example, fell to sixth place, behind The chart also highlights the improved what this list achieves. Penfolds Grange. performance of Mouton-Rothschild. It has Further, this survey does not just contain a However, this year Lafite has returned to progressively moved up the list, from fifth, to current snapshot of brand power. With top spot. This is not just a sign that the fourth and second place this year. One historic data stretching back over four years, market for first growth Bordeaux has reason for this may be improved scores, 23 22-30 Fine wine power list:Layout 1 19/11/09 17:17 Page 24 FINE WINE POWER LIST Liv-ex Power 100: 11-40 Trade on Average Average 1 year Weighted Liv-ex score price performance production Label Rank Total score Last year Move Result % Rank Result Rank Result Rank Result % Rank Result Rank Bordeaux Pavie 11 178 15 +4 0.89 19 96.00 5 1,351 43 4.90 82 10,133,537 29 Italy Ornellaia 12 178 28 +23 0.33 34 94.00 36 1,060 52 10.6 32 11,665,412 24 Bordeaux Carruades de Lafite 13 181 19 +6 3.83 6 88.90 121 1,383 41 55.75 1 29,049,168 12 Bordeaux Palmer 14 181 23 +9 0.54 29 94.20 31 1,140 45 8.58 50 11,400,000 26 Bordeaux Yquem 15 182 16 +1 0.97 18 96.80 3 2,584 19 -9.12 128 21,097,755 14 Spain Vega Sicilia 16 185 27 +11 0.16 51 92.80 62 1,880 31 13.23 21 15,040,000 20 Bordeaux Léoville Las Cases 17 189 18 +1 1.69 12 95.10 15 1,045 53 1.95 93 18,807,452 16 Bordeaux Ducru Beaucaillou 18 195 32 +14 0.24 41 94.10 33 709 66 10.38 34 13,005,326 21 Italy Masseto 19 195 14 -5 0.21 43 94.60 20 3,702 9 4.56 84 8,144,524 39 Spain Sisseck P 20 198 55 +35 0.10 90 94.60 20 2,485 20 9.71 41 11,181,631 27 Bordeaux Cheval Blanc 21 201 26 +5 3.78 7 93.30 52 3,445 11 -3.60 118 28,710,076 13 Bordeaux Cos d’Estournel 22 203 21 -1 1.02 17 94.10 33 774 61 5.87 73 16,100,764 19 Rhône Guigal E 23 204 46 +23 0.42 32 95.60 10 2,393 23 5.78 74 3,588,750 65 Bordeaux Pontet Canet 24 205 45 +21 0.58 28 94.10 33 471 83 11.54 31 9,892,457 30 Burgundy Rousseau A 25 206 30 +5 0.15 55 93.38 51 2,664 17 12.60 23 3,996,037 60 New Wolrd Penfolds Grange 26 220 5 -21 0.23 42 96.20 4 2,145 26 -12.47 133 19,306,289 15 Champagne Dom Pérignon Vintage 27 229 8 -19 0.21 44 92.80 62 1,124 47 5.60 75 168,571,564 1 Burgundy Leroy 28 230 41 +13 0.06 74 95.81 8 9,913 4 2.95 89 4,956,617 55 Burgundy Leflaive 29 231 73 +44 0.49 30 91.80 83 1,847 32 9.49 42 7,387,225 44 Bordeaux Mission Haut-Brion 30 234 11 -19 2.28 10 93.80 44 2,017 28 -9.58 129 12,102,042 23 Bordeaux Lascombes 31 240 63 +32 0.59 27 92.40 72 407 91 15.26 15 8,552,637 35 Bordeaux Pin 32 241 38 +6 0.64 24 93.50 47 11,845 3 -5.18 121 6,811,085 46 Bordeaux Duhart Milon 33 245 39 +6 0.83 21 91.60 88 366 98 33.13 2 8,418,000 36 Italy Solaia 34 246 33 -1 0.10 61 93.40 49 1,348 44 7.27 60 9,433,656 32 Bordeaux Pichon Baron 35 250 62 +27 0.36 33 92.60 70 529 76 9.33% 43 10,580,000 28 Bordeaux Pape Clement 36 251 57 +21 0.07 69 93.00 58 739 62 15.80 12 5,909,619 50 Bordeaux Lafleur 37 252 31 -6 0.87 20 93.60 45 5,977 6 -11.47 132 5,976,649 49 Burgundy Raveneau 38 254 40 +2 0.19 47 92.90 60 1,062 51 12.29 25 3,186,547 71 Italy Sassicaia 39 257 44 +5 0.60 26 94.00 36 912 57 -3.48 116 12,767,812 22 Champagne Louis Roederer Cristal 40 258 17 -23 0.68 23 92.20 77 1,756 35 -3.53 117 52,683,528 6 connected to the appointment of new translated into Chinese characters means ‘to rise and Angelus does seem to have done winemaker Phillipe Dhalluin in 2000 and his collapse’, which is not so good for toasting a well but the others haven’t followed.” use of Bordeaux’s legendary consultant deal and a lot of the drinking that is going Essentially, he ascribes this to the China Jacques Boissenot.