Luxury goods makers, including the world’s leader LVMH which owns Moet & Chandon champagne and Hennessy cognac, posted forecast-beating double-digit growth in first half sales and profits while global economic gloom weighed on markets.
Demand for luxury goods, and wines, is growing everywhere, but much more so in the richest markets, such as Asia,” Geddes said in an interview.
“The fine wine market is not that different from the general luxury goods market. REUTERS/Tony Gentileįine wines with prices starting at triple digits have become brands like top watches or cars, whose high quality and wide brand recognition give consumers some much sought after investment security, Giovanni Geddes, chief executive of the Tenuta dell’Ornellaia estate which makes Masseto, told Reuters.
A worker collects grapes for wine during harvest at a vineyard of the Tenuta dell'Ornellaia estate in the village of Castagneto Carducci in Tuscany September 21, 2011.
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