- Fine wine and spirits sales up 47% year on year to $174m
- Growth boosted by market-leading online trading platform, LiveTrade, which saw trading by value increase by c.55%
- Demand particularly strong in Asia and the US, but all regions deliver significant growth
Leading global fine wine and spirits merchant Bordeaux Index has reported stellar sales growth of almost 50% year on year, to a company record total of $174m. While globally there has been a strong increase in demand, especially among high net worth clients, for the blue-chip wine the company focuses on, new customer acquisition and a sharp ramp up in use of the company’s online trading platform, LiveTrade, have been of particular significance in driving company growth.
Increased activity in Asia and the US (where trade tariffs on many French wines were suspended in Q1) has been most noteworthy, but the company has also seen pronounced gains in the UK. New client signups led to the business’ client base increasing by c.30%, with many collectors or investors looking to benefit from the unique market access which the company offers.
The strong growth in volumes on the LiveTrade online platform – the most active trading venue in the market for top Bordeaux, Champagne and Italian wines – came as the company prepares for the launch of a new, expanded version of the platform this year, when users from across the wine market will be able to trade the full spectrum of fine wines rather than the core set which LiveTrade has focused on to date.
Gary Boom, Founder and CEO of Bordeaux Index, commented:
“We are delighted to report record-breaking results and indeed such strong progress compared to 2020. While activity in the wine market – just as in other luxury assets and collectibles such as art – has no doubt been high, we believe our outsized growth is a clear vindication of our strategy to improve market access and transparency alongside providing best-in-class product expertise.
Looking ahead to 2022, there is certainly room for an optimistic outlook, with the global pool of wine collectors on a different scale to a decade ago, and also investors increasingly looking towards hard assets such as wine which deliver consistently strong performance, capital preservation and protection against inflation.
Building on the tremendous growth last year, we have invested in new technology to improve our LiveTrade platform, which we firmly believe will continue to transform the way fine wine is bought and sold globally.”
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