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French luxury goods group LVMH has agreed to buy wine producer Le Chateau du Galoupet for about 30 million euros, bolstering LVMH’s portfolio of top wines and spirits, such as Veuve Clicquot champagne and Hennessy Cognac.
By Luxus Plus
The world leader in luxury, the LVMH group announces the acquisition of Château du Galoupet, which produces around 450,000 bottles of rosé per year (out of a total of just under 500,000 bottles).
Located in La Londe-les-Maures, in the Var department, the estate covers 160 hectares, including 72 hectares of vines. In 2017, it had a turnover of €2.5 million.
The transaction with the Anglo-Indian family Shivdasani, which had owned the estate since 1973, would reach over 30 million euros, according to Reuters.
Rosé is increasingly popular
In full expansion, rosé is becoming increasingly popular. In terms of volume, exports of rosé wines, which had already increased by 34% between 2014 and 2015, and by 31% between 2015 and 2016, jumped by a further 36% between 2016 and 2017.
In value terms, after an initial jump of 48% between 2014 and 2015, the increase continued to rise to +35% between 2015 and 2016, and to +38% between 2016 and 2017, according to CIVP figures, based on customs statistics. The average export price (excluding taxes) has almost doubled in less than 10 years.
Number one in cognac, with Hennessy, and champagne with Moët & Chandon, Veuve Clicquot or Ruinart, the luxury group also owns the chateaux Cheval Blanc and Yquem in Bordeaux and Clos des Lambrays in Burgundy.
In 2017, LVMH bought a majority stake in Napa Valley’s Colgin Cellars vineyard, which LVMH boss Bernard Arnault said would add to its other top wine brands such as Chateau d’Yquem and Chateau Cheval Blanc■
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