A short while ago LMVH group bought 8.66 hectares from Clos de Lambrays, one of the largest Grand Cru vineyards in the Bourgogne.
Caroline Parent-Gros from the domain known by that same name, A-F Gros, is one of the persons who feels like sharing her opinion on the LMVH takeover:
‘Real estate prices in our region have risen to such an extent that it seems as if being the owner of a vineyard is perceived as ‘owning a piece of art’ rather than ‘owning a piece of land that offers productivity ‘.‘Many generations have been able to keep the vineyards within a number of families, but at present our biggest concern is that those families will in the long run have to sell their lands to large financial services groups.’
The Burgundy region has also in fact become a victim of its own success. In 2013 Sotheby’s auction house sold no less than 7.2 million worth of wines of the Domaine de la Romanée-Conti range, which cannot even be said of every single one of the Bordeaux wines in the Premier Grand Cru Classé list!