WEBVTT - Boomers, Millennials Diverge on Alcohol Choices

0:00:00.120 --> 0:00:03.920
<v Speaker 1>These sees Bloomberg Business Week with Carol Masser and Tim

0:00:03.960 --> 0:00:08.400
<v Speaker 1>Stenovic on Bloomberg Radio Carol Masser along with Katie Grifeld.

0:00:08.400 --> 0:00:09.840
<v Speaker 1>The only reason Katie agreed to do the show is

0:00:09.880 --> 0:00:12.000
<v Speaker 1>because of this segment. You can be honest, I heard

0:00:12.039 --> 0:00:15.000
<v Speaker 1>this was happening. I had to be here, all right.

0:00:15.120 --> 0:00:18.120
<v Speaker 1>It's been another nutty week. Katie was traveling lots of

0:00:18.120 --> 0:00:20.439
<v Speaker 1>news as you know, markets, a little bit of some

0:00:20.520 --> 0:00:23.119
<v Speaker 1>gyrations here. We know we needed to wrap up with

0:00:23.120 --> 0:00:25.040
<v Speaker 1>a segment on wine, and so with us right now

0:00:25.120 --> 0:00:27.960
<v Speaker 1>is Josh Green, editor in chief for Wine in Spirits Magazine,

0:00:28.200 --> 0:00:30.880
<v Speaker 1>here in our Bloomberg Interactive Brokers studio. And yes we're

0:00:30.880 --> 0:00:33.519
<v Speaker 1>gonna sample someone in a moment. But Josh, first of all,

0:00:33.560 --> 0:00:35.840
<v Speaker 1>how are you great to be here? I'm doing very well.

0:00:35.880 --> 0:00:38.720
<v Speaker 1>It's a spring day outside, That's what. It's beautiful. It

0:00:38.760 --> 0:00:41.839
<v Speaker 1>feels really good. It feels really actually going running after this,

0:00:42.080 --> 0:00:44.120
<v Speaker 1>but still I'm here for the one. You can always

0:00:44.159 --> 0:00:47.440
<v Speaker 1>have a little sip, that's true. Well, extra springing your step, um,

0:00:47.640 --> 0:00:49.479
<v Speaker 1>Big trends and wines last year. Talk to us a

0:00:49.479 --> 0:00:52.120
<v Speaker 1>little bit about this past year and how this year

0:00:52.159 --> 0:00:54.240
<v Speaker 1>is shaping up. When it comes to the wine industry. Well,

0:00:54.280 --> 0:00:56.920
<v Speaker 1>everyone was very nervous about the pandemic from the industry's

0:00:56.920 --> 0:00:59.520
<v Speaker 1>point of view, because everyone closed their tasting rooms, but

0:01:00.080 --> 0:01:04.680
<v Speaker 1>deep directed consumer did super super well. And um, so

0:01:05.520 --> 0:01:09.679
<v Speaker 1>there's this phenomenon everyone calls it premium. Yeah, a lot

0:01:09.720 --> 0:01:13.000
<v Speaker 1>of people bought more wine, and so um, premium wines.

0:01:13.080 --> 0:01:17.800
<v Speaker 1>Premiumatization is increasing at a pretty stiff clip. So um,

0:01:18.800 --> 0:01:22.520
<v Speaker 1>it means that people are buying up. And what's unfortunate,

0:01:22.640 --> 0:01:25.080
<v Speaker 1>because the industry relies on it, is that things under

0:01:25.080 --> 0:01:29.600
<v Speaker 1>fifteen dollars are sales are are diminishing, but things above

0:01:29.680 --> 0:01:32.959
<v Speaker 1>fifteen are actually on the increase. So um. The Silicon

0:01:33.080 --> 0:01:36.639
<v Speaker 1>Value Bank does their annual report every year, and um,

0:01:36.640 --> 0:01:38.600
<v Speaker 1>it created a lot of buzz in the industry this

0:01:38.680 --> 0:01:42.040
<v Speaker 1>year because there was there was a number of Um.

0:01:42.080 --> 0:01:44.240
<v Speaker 1>There were a number of trends that were scary for

0:01:44.280 --> 0:01:48.720
<v Speaker 1>the industry, including this issue of baby boomers continuing to

0:01:48.840 --> 0:01:52.240
<v Speaker 1>drink a lot of wine and millennials continuing not to

0:01:52.320 --> 0:01:54.240
<v Speaker 1>drink a lot of wine. All right, millennial, what's wrong?

0:01:54.320 --> 0:01:56.680
<v Speaker 1>So that are you a millennial? Actually I know I

0:01:56.720 --> 0:01:59.760
<v Speaker 1>am a millennial. I will say the pandemic. You bought

0:01:59.760 --> 0:02:02.000
<v Speaker 1>more wine. I drank a lot more wine because I

0:02:02.080 --> 0:02:04.560
<v Speaker 1>was with my parents for six months, so I got

0:02:04.560 --> 0:02:06.960
<v Speaker 1>really into white wine. For example, it used to be

0:02:07.080 --> 0:02:09.640
<v Speaker 1>just read only, but my mom loves white wine. Tell

0:02:09.680 --> 0:02:13.960
<v Speaker 1>me about these millennials who are not made well, they

0:02:14.080 --> 0:02:18.640
<v Speaker 1>are often choosing to drink spirits. Um. So the Baby

0:02:18.639 --> 0:02:22.840
<v Speaker 1>Boom generation came to wine really in the early nineties

0:02:22.840 --> 0:02:26.040
<v Speaker 1>when sixty Minutes produced this segment on how red wine

0:02:26.080 --> 0:02:29.520
<v Speaker 1>was good for your health. Now that yeah, now that's

0:02:29.520 --> 0:02:34.200
<v Speaker 1>been questioned, and um, since it's been questioned. It also

0:02:34.440 --> 0:02:37.880
<v Speaker 1>is it a time when younger people who are nesting

0:02:38.720 --> 0:02:41.800
<v Speaker 1>getting married and that's when they usually start drinking wine,

0:02:42.040 --> 0:02:44.360
<v Speaker 1>are not turning to wine as much, So they'll go

0:02:44.360 --> 0:02:47.040
<v Speaker 1>out to a restaurant and the loader cocktails and cocktails

0:02:47.080 --> 0:02:51.640
<v Speaker 1>are booming and spirits are booming. So for that generation,

0:02:51.880 --> 0:02:54.519
<v Speaker 1>they are choosing either not to drink alcohol or to

0:02:54.639 --> 0:02:58.280
<v Speaker 1>drink alcohol other than wine. That is so interesting. Actually

0:02:58.360 --> 0:03:01.320
<v Speaker 1>that does mirror my own life because my husband, for example,

0:03:01.360 --> 0:03:04.840
<v Speaker 1>he loves to cook. He also loves to make cocktails.

0:03:05.040 --> 0:03:06.960
<v Speaker 1>So I don't know, but for me, the pie is

0:03:06.960 --> 0:03:13.680
<v Speaker 1>just getting bigger. It's not necessarily all of the above,

0:03:13.200 --> 0:03:15.880
<v Speaker 1>So it's not really dire. I mean there is there,

0:03:16.000 --> 0:03:20.600
<v Speaker 1>There is a continuing um there. People are continuing to

0:03:20.680 --> 0:03:23.680
<v Speaker 1>drink wine. It's just that the growth is in the

0:03:23.840 --> 0:03:28.920
<v Speaker 1>above fifteen. So nine that was revenue was up nine

0:03:29.480 --> 0:03:33.640
<v Speaker 1>that in that segment of the industry. It's interesting because

0:03:33.639 --> 0:03:35.440
<v Speaker 1>I do feel like we you know, we do a

0:03:35.440 --> 0:03:38.640
<v Speaker 1>lot of wine segments. To be quite honest, on Bloomberg

0:03:38.640 --> 0:03:41.320
<v Speaker 1>Business Weekend, I do feel like we often have people

0:03:41.320 --> 0:03:42.920
<v Speaker 1>who you know, come on and say, like, there's a

0:03:43.000 --> 0:03:46.040
<v Speaker 1>range of money you can spend on wines, but there's

0:03:46.080 --> 0:03:50.040
<v Speaker 1>a lot of great wines out there under twenty dollars

0:03:50.160 --> 0:03:53.040
<v Speaker 1>or under You don't the whole concept in this idea

0:03:53.080 --> 0:03:54.280
<v Speaker 1>of you don't have to spend a ton of a

0:03:54.280 --> 0:03:55.880
<v Speaker 1>ton of money to get a great bottle of wine.

0:03:56.000 --> 0:03:59.520
<v Speaker 1>Well that's absolutely true. And in fact, the boomers who

0:03:59.520 --> 0:04:03.040
<v Speaker 1>are older in their sixties are buying more wine by

0:04:03.120 --> 0:04:06.440
<v Speaker 1>volume but at a lower price, and the younger people

0:04:06.640 --> 0:04:09.680
<v Speaker 1>are actually buying higher priced wines to their sort of

0:04:09.720 --> 0:04:12.400
<v Speaker 1>wine curious. They're experimenting, they're looking at things that they

0:04:12.400 --> 0:04:15.840
<v Speaker 1>don't know about and trying them, and so they're willing

0:04:15.840 --> 0:04:18.240
<v Speaker 1>to spend more on on a wine for an occasion,

0:04:18.960 --> 0:04:21.760
<v Speaker 1>but they're not drinking as much every day. Okay, that's

0:04:21.760 --> 0:04:25.720
<v Speaker 1>really interesting. Do you do it? I mean, well, it

0:04:25.760 --> 0:04:28.760
<v Speaker 1>does feel when it comes to different price points, like

0:04:28.800 --> 0:04:33.000
<v Speaker 1>buying something fifteen dollars, I just probably don't do it.

0:04:33.080 --> 0:04:37.160
<v Speaker 1>I probably buy up. And for it is more occasion based,

0:04:37.200 --> 0:04:38.520
<v Speaker 1>it feels like it's not just like, oh, it's to

0:04:38.640 --> 0:04:40.760
<v Speaker 1>sail drink wine like then I might actually make a

0:04:40.800 --> 0:04:42.640
<v Speaker 1>gin and tonic at home. But I don't think I

0:04:42.720 --> 0:04:47.520
<v Speaker 1>speak for an entire generation, So I mean, I am

0:04:47.560 --> 0:04:51.920
<v Speaker 1>curious though when I think about my peers. I know

0:04:51.960 --> 0:04:56.719
<v Speaker 1>that mocktails have seemingly become a really big trend, and

0:04:56.720 --> 0:04:59.440
<v Speaker 1>you were talking about how there's this gravitation towards cocktails,

0:04:59.520 --> 0:05:02.039
<v Speaker 1>But what are you seeing when it comes to non

0:05:02.080 --> 0:05:05.720
<v Speaker 1>alcoholic drinks. We see a lot of growth in that area,

0:05:05.960 --> 0:05:08.120
<v Speaker 1>and we as a magazine don't pay a whole lot

0:05:08.160 --> 0:05:11.920
<v Speaker 1>of attention to that. Um, but there is a lot

0:05:11.960 --> 0:05:15.240
<v Speaker 1>of activity because because we're wine in spirits and we

0:05:15.240 --> 0:05:18.400
<v Speaker 1>don't really cover non alcoholic stuff, but there's a lot

0:05:18.440 --> 0:05:21.840
<v Speaker 1>of activity even among wineries to produce lower alcohol wines

0:05:21.920 --> 0:05:26.240
<v Speaker 1>and no alcohol wines and UM. And there's also you know,

0:05:26.279 --> 0:05:30.560
<v Speaker 1>in terms of dry January, curious, sober, sober, curious people there,

0:05:30.839 --> 0:05:33.080
<v Speaker 1>there's those are terms I here all the time now

0:05:33.320 --> 0:05:37.720
<v Speaker 1>and you never heard them. Super curious. Yeah, it's a

0:05:37.760 --> 0:05:41.440
<v Speaker 1>whole trend on TikTok. Well, it's interesting. Timstnavik, who's my

0:05:41.640 --> 0:05:47.320
<v Speaker 1>normal co host, you're my abnormal kidding, but he drinks

0:05:47.320 --> 0:05:50.320
<v Speaker 1>non alcoholic beer. Um, and he's a millennial. Like to

0:05:50.360 --> 0:05:51.840
<v Speaker 1>make fun of him, but I feel like that's not okay,

0:05:51.839 --> 0:05:54.720
<v Speaker 1>I can't. In fact, there's some really good non alcoholic

0:05:54.800 --> 0:05:57.080
<v Speaker 1>beers out there, and now some really good, some really

0:05:57.080 --> 0:05:59.880
<v Speaker 1>good products made from wine that are not alcoholic that

0:06:00.520 --> 0:06:02.560
<v Speaker 1>I have friends who are making some that are delicious.

0:06:02.600 --> 0:06:05.240
<v Speaker 1>All right, So what's innovation in the wine industry today?

0:06:05.640 --> 0:06:09.200
<v Speaker 1>I would say that the innovation is really in farming

0:06:10.400 --> 0:06:13.440
<v Speaker 1>because you have this huge challenge. One of the one

0:06:13.440 --> 0:06:16.680
<v Speaker 1>of the huge challenges to the industry is climate change,

0:06:17.040 --> 0:06:20.680
<v Speaker 1>and so people have to develop farming tools and farming

0:06:20.680 --> 0:06:25.000
<v Speaker 1>techniques that will sustain them through these really aggressive extremes

0:06:25.000 --> 0:06:28.960
<v Speaker 1>of weather. And so people are, you know, in certain

0:06:28.960 --> 0:06:31.440
<v Speaker 1>areas where there's a lot of hail, people are finding

0:06:31.480 --> 0:06:34.080
<v Speaker 1>ways of netting that is not driving them out of business.

0:06:34.240 --> 0:06:37.679
<v Speaker 1>So netting the vines to protect the grapes. Um where

0:06:37.720 --> 0:06:40.880
<v Speaker 1>there is where there have been fire fire forest fires,

0:06:41.240 --> 0:06:43.440
<v Speaker 1>it's been really devastating. I just I was I'm headed

0:06:43.440 --> 0:06:47.200
<v Speaker 1>down to Chile next month, to the south where I

0:06:47.240 --> 0:06:50.039
<v Speaker 1>love the wines from the far south, where these very

0:06:50.080 --> 0:06:54.320
<v Speaker 1>ancient vineyards, year old vieyards, and they've been wiped out

0:06:54.400 --> 0:06:58.160
<v Speaker 1>by forest fires in the last week. So people need

0:06:58.240 --> 0:07:01.960
<v Speaker 1>to find tools to deal with protecting their vines and

0:07:02.080 --> 0:07:05.600
<v Speaker 1>to deal with protecting them from heat. Um, you have

0:07:05.640 --> 0:07:08.919
<v Speaker 1>a lot of people. I guess the biggest trend farming

0:07:08.920 --> 0:07:12.920
<v Speaker 1>wise is that even in places like Burgundy, you're seeing

0:07:13.240 --> 0:07:16.440
<v Speaker 1>a classification that was based on where the snow first

0:07:16.480 --> 0:07:20.880
<v Speaker 1>melted in the spring, and now the classification is based

0:07:20.920 --> 0:07:24.520
<v Speaker 1>on where the coolest areas are, so you don't get

0:07:24.520 --> 0:07:26.520
<v Speaker 1>sunburned on your grapes, so you don't you want a

0:07:26.560 --> 0:07:29.400
<v Speaker 1>northern exposure suddenly rather than southern exposure. It's so funny

0:07:29.440 --> 0:07:31.360
<v Speaker 1>because I think Business Week has done some reporting to that,

0:07:31.440 --> 0:07:33.640
<v Speaker 1>just saying because of climate change, Okay, so maybe you

0:07:33.720 --> 0:07:36.720
<v Speaker 1>can't really grow here, but in this area where it

0:07:36.760 --> 0:07:39.120
<v Speaker 1>maybe used to be too warm, it's a little cooler.

0:07:39.120 --> 0:07:41.560
<v Speaker 1>Where it was too cool like warmer, so things are

0:07:41.600 --> 0:07:43.560
<v Speaker 1>kind of shifting around the world a little bit. And

0:07:43.600 --> 0:07:45.960
<v Speaker 1>then in those in those areas where you had moisture

0:07:45.960 --> 0:07:47.640
<v Speaker 1>in the soil and that wasn't good for the vines,

0:07:47.720 --> 0:07:51.800
<v Speaker 1>suddenly against drought, it's saving the vines. So all these

0:07:51.880 --> 0:07:56.320
<v Speaker 1>all these places that were once secondary are now becoming primary.

0:07:56.440 --> 0:07:59.040
<v Speaker 1>And it doesn't necessarily mean that the great vineyards are

0:07:59.080 --> 0:08:02.360
<v Speaker 1>bad now, but the great vineage are challenged in a

0:08:02.360 --> 0:08:05.080
<v Speaker 1>way they've never been challenged before. So you can't rely

0:08:05.160 --> 0:08:07.160
<v Speaker 1>on the fact that the vineyard is great. You have

0:08:07.240 --> 0:08:09.720
<v Speaker 1>to know that the producer is really actively farming their

0:08:09.800 --> 0:08:12.120
<v Speaker 1>vines to protect them from the grapes from the sun,

0:08:12.680 --> 0:08:16.840
<v Speaker 1>to protect the vines from drought. You know that it's

0:08:16.880 --> 0:08:19.720
<v Speaker 1>a big deal. Now affects the advantage. So we only

0:08:19.760 --> 0:08:21.520
<v Speaker 1>have like a minute left, but I am curious. Then

0:08:21.520 --> 0:08:24.160
<v Speaker 1>we're gonna open up some bottles exactly. I really want

0:08:24.160 --> 0:08:26.800
<v Speaker 1>to get to that. But you know, innovation when comes

0:08:26.840 --> 0:08:29.520
<v Speaker 1>it comes to farming. But when we talk about, you know,

0:08:29.600 --> 0:08:32.560
<v Speaker 1>the decrease consumption among millennials when it comes to wine.

0:08:33.000 --> 0:08:36.679
<v Speaker 1>Are are wine makers trying to innovate around that? Are

0:08:36.720 --> 0:08:40.160
<v Speaker 1>they trying to reach out to those millennials. I think

0:08:40.200 --> 0:08:43.080
<v Speaker 1>that there will be. I believe that there will be

0:08:43.120 --> 0:08:48.960
<v Speaker 1>a necessary shift in the way that wines are priced. Um,

0:08:49.040 --> 0:08:51.920
<v Speaker 1>because when I was growing up, I'm an old guy now,

0:08:51.960 --> 0:08:54.079
<v Speaker 1>but when I was growing up, I could buy Roumier

0:08:54.200 --> 0:08:56.680
<v Speaker 1>for a bottle at the store. Now, that same bottle

0:08:56.679 --> 0:09:00.520
<v Speaker 1>that I bought eight hundred dollars. The people that I'm

0:09:00.520 --> 0:09:04.120
<v Speaker 1>serious gaggeration, um, and the people that are coming into

0:09:04.160 --> 0:09:06.720
<v Speaker 1>the industry now, they don't get to taste those wines

0:09:07.440 --> 0:09:10.040
<v Speaker 1>and they don't get the kind of excitement around the one.

0:09:10.040 --> 0:09:12.480
<v Speaker 1>I mean, we're showing you two really beautiful wines, but

0:09:12.559 --> 0:09:17.120
<v Speaker 1>they're out of the budget of most people. So Um,

0:09:17.160 --> 0:09:19.800
<v Speaker 1>the industries, I think the people who are going to

0:09:19.800 --> 0:09:22.040
<v Speaker 1>be most successful in the next few years are the

0:09:22.040 --> 0:09:26.199
<v Speaker 1>people who are going to be innovating on creating exciting wines.

0:09:26.800 --> 0:09:29.600
<v Speaker 1>Not commercial winds, but exciting wines. It's wines that will

0:09:29.600 --> 0:09:32.080
<v Speaker 1>excite people at a price point that they can afford.

0:09:32.200 --> 0:09:35.960
<v Speaker 1>Now that makes so much sense. Um, So we're gonna

0:09:36.040 --> 0:09:38.720
<v Speaker 1>open up. First of all, Um, Josh, you brought some

0:09:38.760 --> 0:09:40.959
<v Speaker 1>wine for us to sample, and some champagne actually for

0:09:41.040 --> 0:09:42.840
<v Speaker 1>us to sample. So we're gonna open up. Tell us

0:09:42.880 --> 0:09:44.960
<v Speaker 1>about this bottle that we're gonna that Stephen actually, who's

0:09:44.960 --> 0:09:46.600
<v Speaker 1>in studio with us, is going to open up for us.

0:09:46.800 --> 0:09:51.120
<v Speaker 1>So Steven's opening. Steven's opening the addition to for three

0:09:52.080 --> 0:09:55.360
<v Speaker 1>of Rotor collection too for three, and what this is

0:09:55.360 --> 0:09:57.880
<v Speaker 1>is a completely new kind of wine from Rotor. So

0:09:57.920 --> 0:10:01.160
<v Speaker 1>the two we're doing this big event next week and

0:10:01.240 --> 0:10:04.480
<v Speaker 1>the two champagne producers pouring at the event are both

0:10:05.080 --> 0:10:09.199
<v Speaker 1>pretty significant houses. They put vineyards first, that's Bowling j

0:10:09.480 --> 0:10:12.600
<v Speaker 1>and Ludi Roder. And what Ludi Roder did was they

0:10:12.760 --> 0:10:16.240
<v Speaker 1>their Brute Premier wine, which was their UM, their basic

0:10:16.320 --> 0:10:20.360
<v Speaker 1>non vintage brute wine. They transitioned UM a year ago

0:10:20.480 --> 0:10:25.400
<v Speaker 1>over to this collection wine. So, um, what this is

0:10:25.679 --> 0:10:27.640
<v Speaker 1>that one's for you? It is first of all, can

0:10:27.679 --> 0:10:29.000
<v Speaker 1>I just say, I don't know if you can see

0:10:29.000 --> 0:10:31.600
<v Speaker 1>this all right, it's generous, it's well, it's generous, and

0:10:31.640 --> 0:10:34.920
<v Speaker 1>it's it's gorgeous like the color that the bubbles. So

0:10:34.960 --> 0:10:38.640
<v Speaker 1>this is the two eighteen vintage. It's about eighteen vintage.

0:10:38.920 --> 0:10:42.600
<v Speaker 1>And then Jean Jean Baptiste Lacaillon, who's the winemaker and

0:10:42.640 --> 0:10:47.400
<v Speaker 1>the viticulturist there, he started what he calls a perpetual

0:10:47.440 --> 0:10:51.559
<v Speaker 1>reserve in two thousand twelve, so he started taking wines

0:10:51.720 --> 0:10:56.640
<v Speaker 1>and putting them away. So he's got two eighteen vintage

0:10:56.720 --> 0:10:59.840
<v Speaker 1>from his growers and they're consulting with all their growers.

0:11:00.000 --> 0:11:02.199
<v Speaker 1>Everything else that they make is from their own vineyards,

0:11:02.240 --> 0:11:04.360
<v Speaker 1>but this wine is from growers, including some of their

0:11:04.400 --> 0:11:06.520
<v Speaker 1>own vineyards, but from growers, and then they have this

0:11:06.520 --> 0:11:09.080
<v Speaker 1>perpetual reserve what they add to each year, so there's

0:11:09.080 --> 0:11:11.320
<v Speaker 1>a consistency. So there's a consistency, and that they blended

0:11:11.360 --> 0:11:14.280
<v Speaker 1>into this and then they have some wine from oak

0:11:14.360 --> 0:11:17.240
<v Speaker 1>aged reserves and they blend it all together and they

0:11:17.280 --> 0:11:20.920
<v Speaker 1>make this wine. And it's completely a different style of

0:11:20.960 --> 0:11:25.280
<v Speaker 1>wine from what group Premier used to be Cheers, same wine,

0:11:25.320 --> 0:11:27.480
<v Speaker 1>but it's a Champagne to Champagne. But Champagne is a wine.

0:11:27.520 --> 0:11:30.600
<v Speaker 1>I was a little confused about that. Is it if

0:11:30.640 --> 0:11:32.880
<v Speaker 1>I call it Champagne not at all because from it's

0:11:32.920 --> 0:11:36.040
<v Speaker 1>from Champagne, but it's a wine from Champagne. They also

0:11:36.080 --> 0:11:38.680
<v Speaker 1>make still wines in Champagne. You know what, go ahead,

0:11:38.800 --> 0:11:40.520
<v Speaker 1>no finish. It makes still ones in Champagne, and that

0:11:40.559 --> 0:11:42.520
<v Speaker 1>makes sparking onneagin. You know what's really fun is I

0:11:42.559 --> 0:11:45.120
<v Speaker 1>feel like champagne. At least for me growing up, it

0:11:45.200 --> 0:11:48.800
<v Speaker 1>was holidays and celebrations. But you go now to a bar.

0:11:48.880 --> 0:11:51.000
<v Speaker 1>I went to a work event and that was the

0:11:51.120 --> 0:11:54.480
<v Speaker 1>drink that they were initially kind of having everybody drink,

0:11:54.520 --> 0:11:56.720
<v Speaker 1>and it's it's just you go out and people are like, well,

0:11:56.880 --> 0:11:58.840
<v Speaker 1>let me have a glass of champagne. A lot of

0:11:58.880 --> 0:12:01.800
<v Speaker 1>people a lot of wine to actors at restaurants. We're

0:12:01.800 --> 0:12:03.480
<v Speaker 1>interving a bunch of them right now for a project

0:12:03.480 --> 0:12:05.760
<v Speaker 1>we work on for our next shoe, And I was

0:12:05.800 --> 0:12:11.480
<v Speaker 1>just interesting interviewing Natalie McDade at Craft yesterday talking about

0:12:11.480 --> 0:12:13.439
<v Speaker 1>what's going on to craft, and she said one of

0:12:13.440 --> 0:12:16.080
<v Speaker 1>the things she's seeing is that people are drinking champagne

0:12:16.160 --> 0:12:19.000
<v Speaker 1>as a wine for dinner for the first time in

0:12:19.120 --> 0:12:21.800
<v Speaker 1>her career. That they're not just waiting to have a celebration,

0:12:21.840 --> 0:12:23.640
<v Speaker 1>they're having it at dinner, which is something that I

0:12:23.679 --> 0:12:25.920
<v Speaker 1>love to hear that she loves to see and that

0:12:26.040 --> 0:12:28.640
<v Speaker 1>many people in the industry have been waiting to happen. Yeah,

0:12:28.679 --> 0:12:30.240
<v Speaker 1>I see it all the time. I've done it. Yeah. Well,

0:12:30.280 --> 0:12:32.800
<v Speaker 1>maybe this is just antec data, but to the point

0:12:32.840 --> 0:12:35.640
<v Speaker 1>that it used to be, it still is a celebration drink.

0:12:35.679 --> 0:12:39.040
<v Speaker 1>I feel like I have noticed people order prosecco when

0:12:39.040 --> 0:12:42.880
<v Speaker 1>they're just like casually out for dinner. Maybe champagne feels

0:12:42.880 --> 0:12:46.200
<v Speaker 1>a little bit too much, too serious or you know,

0:12:46.280 --> 0:12:49.200
<v Speaker 1>too much of a celebration. Prosecco seems to have taken

0:12:49.240 --> 0:12:52.439
<v Speaker 1>on this role is like this is more every day. Yep.

0:12:52.720 --> 0:12:56.120
<v Speaker 1>There there's very commercial prosecco and there's also really absolutely delicious,

0:12:56.240 --> 0:12:59.920
<v Speaker 1>very special prosecco, very carefully growing prosecco. So there's some

0:13:00.040 --> 0:13:02.480
<v Speaker 1>really great wines in that category. And that's come up

0:13:02.480 --> 0:13:05.000
<v Speaker 1>a lot, and I think that it's become extreme. It's

0:13:05.040 --> 0:13:07.679
<v Speaker 1>really blown away a lot of the other categories of

0:13:07.760 --> 0:13:10.319
<v Speaker 1>sparkling wine other than champagne. Champagne is continuing to boom,

0:13:10.480 --> 0:13:13.120
<v Speaker 1>and prosecco was really booming. But we what we did

0:13:13.240 --> 0:13:17.920
<v Speaker 1>was um Stephen Stephen brought brought some food that's gonna

0:13:17.920 --> 0:13:20.480
<v Speaker 1>be paired with this um, with this wine. At the event,

0:13:20.640 --> 0:13:23.000
<v Speaker 1>we'll tell us about this. So this is Pizza Bianca,

0:13:23.559 --> 0:13:26.880
<v Speaker 1>which is UM. Robin Wright is the sammier at the

0:13:26.880 --> 0:13:32.439
<v Speaker 1>wine director at Chisiama Chiamo in UM Manhattan, West UM.

0:13:32.480 --> 0:13:38.280
<v Speaker 1>It's a Union Square hospitality group restaurant and yeah, and

0:13:38.400 --> 0:13:41.079
<v Speaker 1>so she said that her favorite thing with this dish

0:13:41.320 --> 0:13:44.160
<v Speaker 1>is champagne and sparkling wine. So we have them right

0:13:44.200 --> 0:13:47.440
<v Speaker 1>next to a prosecco Domi prosecco and right next to

0:13:47.800 --> 0:13:52.200
<v Speaker 1>Um rotor or State Rotor, Rotor, Louis Rotor, Champagne and um.

0:13:52.280 --> 0:13:54.120
<v Speaker 1>So we thought we'd bring it over. We were bringing

0:13:54.120 --> 0:13:58.680
<v Speaker 1>the rotor. We thought we'd bring some some that we

0:13:58.679 --> 0:14:01.280
<v Speaker 1>weren't gonna let Katie eat until she had She's not

0:14:01.320 --> 0:14:04.200
<v Speaker 1>going to eat on air. Well, I'm going to eat

0:14:04.240 --> 0:14:06.040
<v Speaker 1>a second, but I want to get to the second

0:14:06.080 --> 0:14:08.719
<v Speaker 1>one because we've got about almost three minutes left here.

0:14:08.920 --> 0:14:12.360
<v Speaker 1>So tell us about you brought us another um a

0:14:12.400 --> 0:14:14.599
<v Speaker 1>wine here red, Yes, a red wine. So this is

0:14:14.679 --> 0:14:18.720
<v Speaker 1>like this is Les Marchiole so Tincia. Merrily Um has

0:14:18.800 --> 0:14:21.360
<v Speaker 1>this estate in Bulgary, which is on the coast of

0:14:21.440 --> 0:14:25.360
<v Speaker 1>Italy and the coast of Tuscany. And she and her

0:14:25.920 --> 0:14:28.320
<v Speaker 1>her husband who passed away I think in the early

0:14:28.320 --> 0:14:33.360
<v Speaker 1>two thousands, Um he and she developed this estate and

0:14:33.400 --> 0:14:37.000
<v Speaker 1>really found that Cabernet franc performed so well in this

0:14:37.080 --> 0:14:41.480
<v Speaker 1>part of Tuscany. So this is Cabernet franc. It is

0:14:41.600 --> 0:14:44.080
<v Speaker 1>a very I mean to me, this is one of

0:14:44.120 --> 0:14:46.920
<v Speaker 1>the great wines of Italy. Um, it's a very beautiful

0:14:47.000 --> 0:14:48.600
<v Speaker 1>want to make everybody know that we really do have

0:14:48.600 --> 0:14:52.200
<v Speaker 1>the one here. This is true. It's a very elegant wine,

0:14:53.000 --> 0:14:56.120
<v Speaker 1>very delicate red wine with a lot of richness underneath.

0:14:56.560 --> 0:14:59.680
<v Speaker 1>So she's a very beautiful, delicate woman with a lot

0:14:59.720 --> 0:15:05.240
<v Speaker 1>of underneath. My Adorgan, she's she's amazing and um and

0:15:05.320 --> 0:15:08.160
<v Speaker 1>she's you know, after her husband, after her husband passed,

0:15:08.200 --> 0:15:10.840
<v Speaker 1>she really took it on herself to make this her

0:15:10.880 --> 0:15:14.680
<v Speaker 1>project completely and the wine has only ever gotten better

0:15:14.920 --> 0:15:17.080
<v Speaker 1>and better and better. And she she's one of the

0:15:17.080 --> 0:15:19.440
<v Speaker 1>great producers in Italy. Now, I just love what's going

0:15:19.480 --> 0:15:21.280
<v Speaker 1>out we've had. What were you to say? No, I

0:15:21.360 --> 0:15:23.520
<v Speaker 1>just I want to get into like the scoring, Like

0:15:23.560 --> 0:15:26.560
<v Speaker 1>you mentioned that it scores well in Tuscany. What what

0:15:26.600 --> 0:15:30.040
<v Speaker 1>actually comprises how a wine scores. What's the sort of

0:15:30.080 --> 0:15:33.480
<v Speaker 1>criteria there? It really depends on who's scoring it. Um.

0:15:33.520 --> 0:15:35.600
<v Speaker 1>For us, a lot of it has to do with

0:15:35.640 --> 0:15:38.800
<v Speaker 1>our immediate reaction to the wine and what we what

0:15:38.840 --> 0:15:42.240
<v Speaker 1>our expectations are for the wine. Really gentle, Yes, it's

0:15:42.280 --> 0:15:46.680
<v Speaker 1>gentle and beautiful. Yeah, but it's full you were talking

0:15:47.040 --> 0:15:50.360
<v Speaker 1>I just want I just wann't taste it before well

0:15:50.600 --> 0:15:53.960
<v Speaker 1>and only got like forty seconds lefter tell us about

0:15:53.960 --> 0:15:58.960
<v Speaker 1>this event and six pm at Metropolitan Pavilion, which is

0:15:59.040 --> 0:16:03.000
<v Speaker 1>on eight Street west of Sixth Avenue. This is our

0:16:03.000 --> 0:16:05.400
<v Speaker 1>top one hund wines of the year, which we scored

0:16:05.840 --> 0:16:08.280
<v Speaker 1>the wineries of the year, So these are the wineries

0:16:08.320 --> 0:16:11.120
<v Speaker 1>that got the highest scores and the most highest scores,

0:16:11.440 --> 0:16:14.680
<v Speaker 1>and so they're gonna be wineries like um Biggest Sicilia

0:16:14.680 --> 0:16:17.680
<v Speaker 1>will be there, which is probably the greatest estate in Spain.

0:16:18.360 --> 0:16:21.800
<v Speaker 1>Um Corson and Diamond Creek will be there from Napa Valley.

0:16:21.880 --> 0:16:25.080
<v Speaker 1>This is incredible. They're amazing wines here, like wines you

0:16:25.120 --> 0:16:27.760
<v Speaker 1>won't be able to taste virtually anywhere else in your life.

0:16:28.280 --> 0:16:31.400
<v Speaker 1>And it's a very reasonable ticket to get in. So

0:16:31.480 --> 0:16:34.200
<v Speaker 1>we're actually the tickets are going really fast right now.

0:16:34.240 --> 0:16:37.080
<v Speaker 1>We're very excited about that because since the pandemic is

0:16:37.360 --> 0:16:39.240
<v Speaker 1>is sort of on the wayne, people are out and

0:16:39.280 --> 0:16:41.680
<v Speaker 1>about really excited about going out. I agree with you,

0:16:41.720 --> 0:16:43.800
<v Speaker 1>everybody a wants to go do things. Um, Josh, we

0:16:43.840 --> 0:16:45.960
<v Speaker 1>have to run. What a sport. What a great way

0:16:46.000 --> 0:16:48.080
<v Speaker 1>to wrap up our week, Josh, Green, editor in chief

0:16:48.080 --> 0:16:51.240
<v Speaker 1>of Wine and Spirits magazine. Check out on Wednesday, f

0:16:52.000 --> 0:16:57.400
<v Speaker 1>eight pm, Top one Tasting, This is Bloomberg