LVMH buys Clos des Lambrays Burgundy vineyard
One of Burgundy’s most famous vineyards was returned to French hands last night as billionaire Bernard Arnault’s luxury goods giant LVMH bought the 14th century Clos des Lambrays from its German owners.
Some in the region have been dismayed to see its prestigious producers being sold to wealthy foreigners, most notably the takeover in 2012 of a famous chateau, Le Chateau de Gevrey-Chambertin by a Chinese casino magnate.
Local growers have even warned of a “foreign invasion” of mainly Asian investors into the region.In Bordeaux, at least 20 chateaux have been taken over by Chinese buyers in recent years.
LVMH, whose name stands for Louis Vuitton Moet Hennessy, owns some of the world’s most famous luxury brands. So analysts said Clos Des Lambrays’ fine wines like the Puligny Montrachet Premier Cru “Clos du Cailleret” make a good fit. While LVMH has been buying fine wines in recent years to add to its famous names like Chateau D’Yquem and Chateau Cheval Blanc, yesterday’s deal was its first in Burgundy.
Locals had not been overly concerned by Clos de Lambrays’ German ownership since 1996, as Gunter and Ruth Freund were knowledgable about Burgundies and invested in restoring the chateau and improving the vineyards, while retaining the services of Thierry Brouin, its chief winemaker for the last 35 years. He will remain in charge under LVMH. Ms Freund began looking for a buyer following Mr Freund’s death in 2010.
- 1 Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
- 2 HeForShe campaign: Iceland to follow up Emma Watson speech with UN women's rights conference – for men only
- 3 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 4 Teenagers irritable because early school hours mess with their biological clocks
- 5 Now we know whose fault it is if you end up being murdered in Thailand
Isis could become 'world’s first truly terrorist state' and bomb UK with nuclear and chemical weapons, Theresa May warns
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...