Fine wine 2010 Lulie Halstead

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Lulie Halstead, Wine Intelligence. Fine Wine 2010 Aranda de Duero

Lulie Halstead, Wine Intelligence. Fine Wine 2010 Aranda de Duero

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  • 1. What is ‘Fine Wine’? Lulie Halstead Chief Executive Wine Intelligence
  • 2. The world of Fine Wine consumers
    • How can we classify ‘Fine Wine’?
    • ‘ Luxury is qualitative not quantitative’
    • (Kapferer & Bastien, 2009)
  • 3. Must a ‘Fine Wine’ have a consistent history?
  • 4. Must a ‘Fine Wine’ have provenance?
  • 5. Must a ‘Fine Wine’ be hand-crafted?
  • 6. Must a ‘Fine Wine’ be critically acclaimed? Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • 7. Must a ‘Fine Wine’ have family heritage? Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • 8. Must a ‘Fine Wine’ be rare or limited?
  • 9. Must a ‘Fine Wine’ be ethically produced? Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • 10. Must a ‘Fine Wine’ look beautiful?
  • 11. Must a ‘Fine Wine’ be part of a desirable culture or celebrity?
  • 12. Must a ‘Fine Wine’ be expensive?
  • 13. What defines ‘Fine Wine’ for consumers? Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 Source: Wine Intelligence Vinitrac survey, March 2010, n=3900 USA, UK, Switzerland 1 st Heritage 2 nd Provenance 3 rd Handcrafted 4 th Critical acclaim 5 th Family history 6 th Rarity 7 th Ethical responsibility Difficult to build – hard to create Favours some – hinders others Realistic economically? Brings praise and criticism What if it’s not there? This is the collectors world only A consideration, not a deal maker
  • 14. A ‘Fine Wine’ must be authentic
    • Time is the key dimension for fine wine