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Bordeaux: Drop in price by 40% for Château Angelus

Par Vitisphere Le 09 avril 2009
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Bordeaux: Drop in price by 40% for Château Angelus
C
hâteau Angelus, one of the most prestigious great St Emilion vintages, is the first to change its position : its owner Hubert de Bouard is going to announce a price of 50 € per bottle for its 2008 primeurs, which is a reduction of 40% on the 2007 vintage price. He justified the move stating, “we have to take account of the credit crunch. It is necessary to return to an acceptable price for the consumer.” This reduction had been expected to take account of the economic crisis which hasn’t spared the grand cru market. Some British operators have nevertheless made it clearly known that they would not be buying en primeur if the price wasn’t checked and lowered. This price correction poses, on the other hand, problems for the 2007 vintage, having a primeur price that has remained high and which, because of the lowering price of the 2008 vintage, is going to become very difficult to sell, especially as it is of a lower quality than the 2008.

[Source: Decanter]
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