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Acker Merrall’s luxury wine auction or the new battle between First Growth Bordeaux in China

Guillaume Jourdan,
Brand awareness and improve brand image by building customized strategies for wine estates
France

On last 28 & 29 May, 2010, “The Imperial Cellar” (owned by entrepreneur Eric Greenberg) sale achieved a record HK$152 million at Hong Kong auction. Top lot of Henri Jayer Vosne Romanée Cros Parantoux 1999 set a New World Auction record. But even more important, a new world record was set for a Château Margaux lot sold at auction.

At a time when Château Lafite Rothschild is taking a big slice of the chinese cake, it is very important for Château Margaux to make this kind of appearance in order to develop brand image and increase market share in China.

After a few years of craziness on Lafite, First Growth Bordeaux are now aware of the huge potential of the chinese market and understand they should develop brand awareness by attracting chinese eyeballs. This game is particularly attractive if you consider how successful Lafite is today in China, Hong Kong and Macau: Château Lafite Rothschild's sales should be added to some other wines such as Carruades de Lafite and other wines branded under the same logo. In order to achieve its goal, Château Margaux needs to develop a communication strategy, promote its luxury brand wine in China and also, among others, introduce Pavillon Rouge (second wine).

In this strategy, having Château Margaux wines at the largest ever wine auction to be held in Asia and the second biggest wine auction of all time worldwide was essential.

In fact, this auction was a unique occasion for Château Margaux to get the attention of Asia’s most serious wine collectors and bidders from around the world. So in addition to the "Imperial Cellar" sale, five unique lots consigned directly by Château Margaux, were sold with net proceeds being donated to the Great Wall Society of China to assist with the preservation of this United Nations Cultural World Heritage site.

And this superlot of 360 bottles (1979-2007) from Château Margaux Private Cellar has set a New World Auction Record for any Château Margaux lot ever sold anywhere in the world. Now let's see if Château Margaux will be as successful as Lafite is in China within a few years...

To learn more about Guillaume please visit www.wineinsightnewseconomics.blogspot.com .

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