Speaker 1: You're listening to Bloomberg Business Week with Carol Messer and
Speaker 1: Tim Steneveek on Bloomberg Radio.
Speaker 2: It is already well passed five pm somewhere, five pm here,
Speaker 2: and so it seems like the first perfect time to
Speaker 2: talk about the business is wine listen.
Speaker 3: So it was five o'clock somewhere right, all right, We've
Speaker 3: got a great voice on it. Someone who has spent
Speaker 3: some of her growing up years. Sounds like a lot
Speaker 3: of them wandering among vineyards and sellers thanks to her dad,
Speaker 3: Jerry Lore, a real estate developer, agriculturist and wine grower
Speaker 3: with us as Cynthia Lord, the co owner and chief
Speaker 3: brand officer of Jaylaur Vineyards and Wines, joining us, by
Speaker 3: the way, one of Wine and Spirits Magazine's top one
Speaker 3: hundred wineries for the second year in a row, and
Speaker 3: she's joining us on zoom in San Rafael, California. Cynthia
Speaker 3: is so nice to have you here with Simone and
Speaker 3: me on a Bloomberg Business Week.
Speaker 1: How are you? I'm great, Thank you Carol and Simone.
Speaker 1: It's such a pleasure to be with you and I agree.
Speaker 1: It's five o'clock somewhere, so great time to be talking
Speaker 1: about wine.
Speaker 3: Well, before we get to a couple of things, because
Speaker 3: you guys have a lot going on, tell us little
Speaker 3: bit about the history of the vineyard. Your dad very
Speaker 3: much a pioneer in developing California's wine world. Tell us
Speaker 3: about the family business growing up within it, and you know,
Speaker 3: we take it for granted today, but it wasn't always
Speaker 3: that way.
Speaker 1: Oh, absolutely, what a great question.
Speaker 3: You know.
Speaker 1: My father grew up in South Dakota in a farming family,
Speaker 1: and he was always very much a man of the soil,
Speaker 1: out in the out farming and with his family tending
Speaker 1: to wheat barley Rye Trita Cayley, which is a little
Speaker 1: known soil amendment. So when he came out to California
Speaker 1: in the late fifties to pursue his PhD in civil
Speaker 1: engineering from Stanford University. After he created his first building
Speaker 1: and development business in the South Bay of California kind
Speaker 1: of San Jose area where our first winery is located,
Speaker 1: he and his building and development partner found they had
Speaker 1: a mutual love of wine, so they started traveling to
Speaker 1: California's central coast. First it was Monterey County's Arroyo Seco
Speaker 1: right near Carmel and in Monterey County and put their
Speaker 1: first boots in the ground, planting two hundred and ninety
Speaker 1: three acres across eleven different varieties, and then later found
Speaker 1: after some trial that cabernet and chardonnay did not grow
Speaker 1: well side by side in that cool climate region, So
Speaker 1: that took him an hour south to Passerobyls, where since
Speaker 1: nineteen eighty six we've been growing the bulk of our
Speaker 1: red wine in Bordeaux portfolio. So we actually started out
Speaker 1: in Monterey County in the started planting in the late sixties,
Speaker 1: early seventies, and Passerobyls in nineteen eighty six, and we'll
Speaker 1: celebrate fifty years of our heritage wines in twenty twenty four.
Speaker 2: So you have now over I believe, two thousand acres
Speaker 2: you're farming. Talk to me about some of the key
Speaker 2: issues that you follow every day as you're running now
Speaker 2: a quite large wine business.
Speaker 1: Absolutely so across our three distinct appellations. Actually, for if
Speaker 1: you count Santa Lucia Highlands, we also grow on a
Speaker 1: small parcel in Saint Helena in Napa Valley. But all told,
Speaker 1: our four thousand acres are certified California Sustainable, as are
Speaker 1: our three wineries and by years and twenty seven of
Speaker 1: our approximately forty one wines. So for my brothers and
Speaker 1: my father and myself, we are truly family owned and
Speaker 1: operated hands on day in and day out. My brothers
Speaker 1: and I all hold executive roles for the last twenty
Speaker 1: two years in our business, So we really embrace the
Speaker 1: vision that my father set forth so many years ago,
Speaker 1: and that was to truly be a sustainable enterprise. So
Speaker 1: everything we do is always with an eye toward resource conservation, optimization, innovation.
Speaker 1: Since they're always ensuring that we are doing what we
Speaker 1: can to influence the quality of our wines from vineyard
Speaker 1: to bottle.
Speaker 3: And we're going to get to sample and check out
Speaker 3: the quality of your wines, which which we'll do in
Speaker 3: a moment. But I want you know when you talk
Speaker 3: about sustainability, we've had a lot of conversations over the
Speaker 3: years with vineyards, certainly in the California area, and just
Speaker 3: the challenges that are coming at you, whether it's because
Speaker 3: of climate change, it gets trickier and trickier. What have
Speaker 3: the last couple of years been like for you guys?
Speaker 1: Oh, my goodness, full throttle into conservation efforts. So everything
Speaker 1: from our wastewater treatment program, which reduces the amount of
Speaker 1: water required to produce a gallon of wine to almost
Speaker 1: under two gallons, to practicing deficit irrigation, so we'll often
Speaker 1: mimic rain events and we'll irrigate continually in a vineyard
Speaker 1: for a period of twenty four hours and then not
Speaker 1: irrigate for two more months, or practices such as roll
Speaker 1: up doors, our solar tracking array, which powers more than
Speaker 1: eighty five percent of our passerables facility. But now, as
Speaker 1: you both know, the new area that's of most concern
Speaker 1: is social equity. It's not just an environmental stewardship or
Speaker 1: financial resource. It's really about social equity. How do you
Speaker 1: care for your communities, How do you care for your people?
Speaker 1: How do you ensure that you're doing what you can
Speaker 1: to create a thriving and prosperous place where your employees live, work,
Speaker 1: in play. So we're really focused on long term solutions
Speaker 1: for California's water crisis as well as just looking at
Speaker 1: how can we curtail greenhouse gas emissions in every facet
Speaker 1: of our business.
Speaker 2: Can you get into the nitty gritty though, like what
Speaker 2: has become more difficult for you the most, the most,
Speaker 2: the thing that's changed the most, whether it's you know,
Speaker 2: climate wise or water or heat, what has had the
Speaker 2: biggest impact.
Speaker 1: I would say for us, it truly is water, and
Speaker 1: here in California, tending to California's water crisis and being
Speaker 1: at the forefront of really finding some of those longer
Speaker 1: term solutions, whether it is blending recycled waste water with
Speaker 1: nearby Lake Nacimiento to ensure that wells and passerobles will
Speaker 1: have ample supply. It's really about finding those longer term
Speaker 1: solutions because honestly, climate chain will continue to throw many
Speaker 1: weather events at us. We have to be prepared, but
Speaker 1: we also have to take the long tail toward convening
Speaker 1: leaders across all facets of government and city council to
Speaker 1: brainstorm these long term solutions. So I'd say that's what
Speaker 1: we're most focused on.
Speaker 3: The business right now. Tell us about costs, wages, supply chains,
Speaker 3: How is all of that?
Speaker 1: Yes, So the business for us is healthy. That comes
Speaker 1: from having the perspective of being a vertically integrated business.
Speaker 1: So we've had long term arrangements with suppliers or our
Speaker 1: leadership team. Many have been with Jaylare for over fifteen
Speaker 1: to twenty years. That includes our winemakers. But certainly we're
Speaker 1: seeing escalation of costs across in the entire supply chain.
Speaker 1: But for jay Lore because we control facets of our
Speaker 1: business being a vertically integrated company, so growing and producing
Speaker 1: our own wines really makes a difference to consumers at
Speaker 1: the end of the day. And so that's where we
Speaker 1: sit differently from many in our competitive set is being
Speaker 1: able to take ownership of the costs our ability to
Speaker 1: keep them down so that that don't those costs do
Speaker 1: not translate to the consumer.
Speaker 3: Cynthia laure co owner and chief friend Officer of Jlare
Speaker 3: Vineyards and Wines on Zoom and San Rafael, California and
Speaker 3: Sonia gave us the great backstory and history of your
Speaker 3: family owned vineyard. You also shared with us. Thank you
Speaker 3: so much. Some wine that I'm going to open up.
Speaker 3: I believe it is a cab Cabernet sauvignon. Tell us
Speaker 3: a little bit about the wines that you guys make
Speaker 3: in this wine that I'm going to open up. We're
Speaker 3: going to sample. I'm going to talk more about.
Speaker 1: It perfect well. I'll need to know is it the
Speaker 1: hilltop or the signature Cabernet sauvignon.
Speaker 3: I believe it's the hill It's the hilltop.
Speaker 1: Yes, it is, okay, terrific. So j lor Hilltop Cabinet
Speaker 1: Sauvignon is a wine that we have been producing since
Speaker 1: nineteen ninety eight. It's ner j lor Ooh I heard that.
Speaker 3: I popped it, and I'm actually gonna pour it too,
Speaker 3: So you're gonna hear that in the background.
Speaker 1: Because oh, this is live because it's not quite my
Speaker 1: cocktail hour here in California, but five o'clock, I'm certainly
Speaker 1: with you, with you in spirit. So I'm actually so
Speaker 1: happy that you're drinking this particular wine right now because
Speaker 1: this is absolutely one of my favorites in our portfolio.
Speaker 1: And I'm not just just saying that. So since nineteen
Speaker 1: ninety eight, and this wine, like so many of our
Speaker 1: small lot production wines in our Jaylar Vineyard series Tier,
Speaker 1: really exemplifies a deep sense of place. So there actually
Speaker 1: is a hilltop vineyard with panoramic views overlooking all of Passerovals.
Speaker 1: And what may this wine so delicious and so unique
Speaker 1: is my father's fanatical precision around selecting sites that are
Speaker 1: going to bring about the best varietal characteristics, whether it's
Speaker 1: through soil profile or the aspects of the growing region
Speaker 1: that have to do with how cool the climate is,
Speaker 1: or whether it's south facing slopes or dappled sunlight coming
Speaker 1: across the vine. So it's really about site specific selections.
Speaker 1: And we at Jlore are fortunate to grow in about
Speaker 1: five of the eleven sub appellations. That essentially means that
Speaker 1: there are different microclimates that elicit these nuanced flavors that
Speaker 1: all contribute to just this one really supple expressive, bold,
Speaker 1: but super delicious, not well Cynthia profile at all.
Speaker 3: But I have to say Simone and I both have
Speaker 3: sampled a little bit, and I'm a fan of cabs.
Speaker 3: It's one of my favorite to drink. This is a
Speaker 3: real smooth quality to it.
Speaker 1: Mm hmmm mm hmm. And that's by design because our
Speaker 1: tannin profile and our red wines follows this winemaker philosophy.
Speaker 1: Our VP wine making Steve Peck says we are soft,
Speaker 1: dense and never green. So that applies to our our tannins,
Speaker 1: not our personalities, but our tannins. And so what that
Speaker 1: means is you get these really refined berry flavors in
Speaker 1: that smooth, supple structure, but also to growing what we grow.
Speaker 1: So this is ninety five percent Cabinet Sagnon, three percent
Speaker 1: Pati Verdo, one percent mal back, and one percent Cabinet
Speaker 1: franc We have the ability to blend in what we
Speaker 1: call a spice rack of varieties to really land on
Speaker 1: just the perfect flavor profile.
Speaker 3: It's really makes us wonder about like kind of consumer
Speaker 3: trends in general, right, Yeah, like what.
Speaker 2: Do consumers want and how does that change how you're
Speaker 2: mixing your wine.
Speaker 1: Absolutely, so some out there may say that consumers are
Speaker 1: gravitating toward more of a sweet flavor profile. Well, given
Speaker 1: that we are a vineyard driven company, given that we
Speaker 1: are farmers and agriculturists, at the end of the day,
Speaker 1: we're always looking at what do the vineyards give us,
Speaker 1: and then we craft our wines around what the vineyards
Speaker 1: give us. So at the end of the day, for us,
Speaker 1: it's all about authenticity. It's about accessibility, it's about being
Speaker 1: available and conscientious not only for what our consumers might
Speaker 1: like in terms of fine wine or everyday occasion wines,
Speaker 1: but a flavor profile that is versatile, that's food friendly,
Speaker 1: that's consistent well, and it's pleasing.
Speaker 3: It also sounds like we've seen a trend of you know,
Speaker 3: wines don't need to be fussy, wine don't need to
Speaker 3: be sotly. I feel like there's been this wonderful explosion.
Speaker 3: We recently talked about a story about Darden restaurants and
Speaker 3: they talked about how even their wealthy consumers were trading
Speaker 3: down a little bit when it came to their wine
Speaker 3: choices when they came in the restaurant. Give me an
Speaker 3: idea this economic environment, there's some uncertainty price point and
Speaker 3: are you seeing any of that? Are you hearing that
Speaker 3: from any of your customers?
Speaker 1: We certainly are hearing some of that. You know, we're
Speaker 1: in uncertain times right now economically, and I both know
Speaker 1: that you know so much about economics, try your backgrounds,
Speaker 1: and so I so appreciate that. But I think the
Speaker 1: beauty of being a family owned winery like jay Lore
Speaker 1: is that we have been crafting wines in seven distinct
Speaker 1: tiers now for many, many years. So for those who
Speaker 1: wish to trade up for a special occasion, Jylor Vineyard
Speaker 1: Series and above is perfect for that or if you're
Speaker 1: going to your friend's house for Tuesday night taco or
Speaker 1: Wednesday night pizza, regardless of what it is, we have
Speaker 1: a wine for that particular occasion. So whether it's the
Speaker 1: fifteen to nineteen dollars price point at retail and you're
Speaker 1: just looking to bring a delicious bottle of wine to
Speaker 1: your friends, or you want to upscale a little bit,
Speaker 1: we have that opportunity as well. So it's a little
Speaker 1: early to tell where consumer preferences lie, but just as
Speaker 1: during the pandemic, we're at that sweet spot and we're
Speaker 1: blessed for that interesting and it all comes back down
Speaker 1: to economies of scale, given that we are that vertically
Speaker 1: integrated at price.
Speaker 3: Hey, before we go, we've got about a minute left
Speaker 3: here leading the way, tell us just quickly about this.
Speaker 3: It's a contest that's underway and it is until the
Speaker 3: end of October.
Speaker 1: Absolutely, so it's all about the twus in this one.
Speaker 1: So we're talking round trip for two nights, five hundred
Speaker 1: dollars gift card in beautiful Passerobles And if you ladies
Speaker 1: have heard the buzz about the area, it is so
Speaker 1: replete with incredible wines, personalities, Vintnors and just all these
Speaker 1: fantastic places to dine. We're so excited to share some
Speaker 1: of our Passer Rebels excitement and our wines and our
Speaker 1: day Passerobels Wine Center with those lucky two winners.
Speaker 3: Well, it's so funny knowing you were coming in and
Speaker 3: we were all prepping in the newsroom and you know,
Speaker 3: everybody's talking about who's been to California Wine Country because
Speaker 3: it really is something to experience. Cynthia, first of all,
Speaker 3: thank you for letting us experience a wine from your vineyard.
Speaker 3: We so appreciate it and look forward to checking back
Speaker 3: in the future on how things are going. Cynthia Laura
Speaker 3: co owner and chief brand Officer Jaylare Vineyards and Wines
Speaker 3: on Zoom in San Rafael, California.
Speaker 2: I'm glad we're able to close out the day with
Speaker 2: the glass.
Speaker 1: We're not done yet, and it's true.
Speaker 2: And there's more coming up as well.
Speaker 3: Anyways, our thanks, but we're getting there. Everybody the weekend.
Speaker 3: Just around the corner, Carol Masterson and foxmen and this
Speaker 3: is Blueberg Radio
Speaker 1: MHM.