Fine wine 2010 Lulie Halstead

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

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Fine wine 2010 Lulie Halstead

  1. 1. What is ‘Fine Wine’? Lulie Halstead Chief Executive Wine Intelligence
  2. 2. The world of Fine Wine consumers <ul><li>How can we classify ‘Fine Wine’? </li></ul><ul><li>‘ Luxury is qualitative not quantitative’ </li></ul><ul><li>(Kapferer & Bastien, 2009) </li></ul>
  3. 3. Must a ‘Fine Wine’ have a consistent history?
  4. 4. Must a ‘Fine Wine’ have provenance?
  5. 5. Must a ‘Fine Wine’ be hand-crafted?
  6. 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. 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. 8. Must a ‘Fine Wine’ be rare or limited?
  9. 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. 10. Must a ‘Fine Wine’ look beautiful?
  11. 11. Must a ‘Fine Wine’ be part of a desirable culture or celebrity?
  12. 12. Must a ‘Fine Wine’ be expensive?
  13. 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. 14. A ‘Fine Wine’ must be authentic <ul><li>Time is the key dimension for fine wine </li></ul>

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