Global fine wine trading company Bordeaux Index has toasted a leap in revenue in the first six months of the year, which saw turnover up 40%, as investors seek refuge from soaring inflation.
LiveTrade, Bordeaux Index’s online trading platform, was the major contributor to growth, the company notes with trading by value increasing by around 55%. Some of the major drivers included sales of Champagne and Italian wines on the platform, which were up 80% and 60% by value respectively, along with an increasing number of new high net worth collectors on the platform, for whom top wines and whiskies are a growing focus both for consumption and investment. Matthew O’Connell, chief executive of LiveTrade added there were more luxury consumers than ever who are looking to buy and invest; “We have seen a huge increase in interest in investing in wine because people are buying into the fact that wine has proven over time to be very inflation proof” he previously told. Also, “last year Bordeaux Index’s LiveTrade platform customer base grow by around a third, it said, with around 50,000 transactions a year of around 600 vintages”. The company’s top ten most traded wines on the LiveTrade platform included Bordeaux first growths Château Haut Brion in the top spot, Lafite Rothschild, Cos d’Estournel, Petrus, Mouton Rothschild, and Margaux, along with Champagnes Cristal, Dom Perignon, and Taittinger Comtes de Champagne, along with Sassacaia in fourth place. The company has also opened a new office in Miami.