Latour Leaves En Primeur... One year on.

In 2012, Château Latour announced that it would be withdrawing from the En Primeur campaign. Each year Latour will instead release more mature vintages direct from their cellar. This decision was thought to be motivated by Latour’s concern that their wines were being consumed too early; the release of mature vintages provides the client with the assurance that the wine has been stored in optimal conditions up until the point that it is ready to drink. Additionally, this system may be an advantage in nascent market, where the concept of buying en primeur is still in its infancy.

Following the uneventful release of Latour 1995 and Forts de Latour 2005 in 2012, this year’s release did little to spark interest among UK buyers. Latour 2004 was released ex-négociant at €400 per bottle along with the Forts de Latour 2006 at €140 per bottle (this translates roughly to market trade prices of £4,015 and £1,405 for 12x75 respectively). Considering that the recent trades of Latour 2004 are hovering around £3,000, this release equates to a premium of around 23%. Latour 2004 has, however, not been traded on Liv-ex since 10th March – eight days prior to the release – and only realised a price of £3,350. This begs the question whether value is seen in the premium price. The lack of interest surrounding Latour’s releases seems to suggest that collectors are content to buy professionally stored wines from reputable merchants without the added level of security from the Château. Whether or not this premium becomes accepted practice across buyers remains to be seen. The lull on Liv-ex, however, seems to suggest that stock is not shifting at any pace.