When the Chinese Limit Luxury, Bordeaux Suffers

While China’s wine consumption has gone up over the past decade, cultivating nearly 14 million drinkers, Bordeaux has profited from the country’s attention and its wallets. In Margaux, one Chinese energy company even bought an estate last year in order to provide direct access to the Chinese market—part of a growing trend among Chinese investors. According to Bloomberg, Clos des Quatre Vents, run by Lina Fan, is now providing 20 to 30 percent of its production directly to the Chinese.

Today, the Chinese own nearly 100 vineyards in Bordeaux, some acquired from sellers who have had their properties on the market for up to five years. But since the government has begun to crack down on corruption, and control conspicuous consumption, Bordeaux is feeling the pinch and, Li Lijuan, a Christie’s acquisitions consultant, has begun to advise her Chinese clients to invest in more affordable chateaux when looking to buy in France. [Bloomberg] [Photo: Flickr/Erik Söderström]