French vineyards owned by Chinese people are being offered at discounted prices.
French vineyards owned by Chinese are being offered at deeply discounted prices and Beijing’s crackdown on extravagant public spending has led to problems for these wineries.Chateau Latour-Laguens is just one Chinese-owned vineyard that is back on the market for a fraction of its value. Image: Getty Images/Patrick Aventurier.
Most importantly, it has been late discovered that a large number of patrons merely dislike the wine. It turns out that the Chinese dinner table just does not suit heavy, tannin-rich red wines. To the surprise of the locals, bottles of red wine that would typically retail for EUR 3 or EUR 4 in France were being marked up to EUR 20 to EUR 30. The wines were intended for consumers back in China, with ridiculous profit margins.
Jérôme Baudouin, the principal editor of the wine publication La Revue du Vin, had long anticipated this tendency. For starters, he notes that wine cannot compete with the typical Chinese meal, which frequently consists of both savoury and sweet foods, such as fish, meat, and vegetables, all served simultaneously at the centre of the table.
When she was at her lowest, Ms. Pauly started to fear for her safety. “I didn’t know how far they could go…they knew my address, my habits, they could easily have done something to send me a message.” She retired early as a result of the draining experience. “Some Chinese proprietors simply vanish.” According to Corinne Lantheaume, a union representative for the local CFDT Gironde who assisted Ms. Pauly’s case, the largest challenge is dealing with absentee proprietors in China.
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