What comes to your mind when you think about wine?

To me wine means pleasure, knowledge, good company and history.

Since the days of the Roman Empire, wine has been a luxurious beverage capable of making people experience and enjoy fantastic flavours. It was the most important element in fine aristocratic gatherings and dinners, often referred to as symposium. It was also connected to voluptuous temptations and habits, and to Bacchus, the Roman god of fertility, pleasure, agriculture and, of course, wine.

In the domain of the luxury business, wine can be considered both an experience and a lifetime asset.

Nowadays, the luxury industry is undergoing a big change in terms of perception due to the Millennial generation. In fact, we can feel a strong shift from sheer ownership to quest for experience. The new generation prefers to experience something special that can be remembered for a lifetime over merely own a unique object. In these terms, wine can be one of the few goods to fulfil both the elements of experience and ownership. 

The experience starts even before the bottle is opened and involves all the senses. From the appeal of the bottle and the label, to the perfume and the final taste, wine tasting is a great voyage through our physical perceptions. Besides the tasting, in the last few years the harvest of grapes and the final production sparked the interest of the public. For this reason, vineyards have lately opened their doors to public wine making experiences, connected to high-end hospitality and culinary tastings.

Moreover, wine can be considered as a sort of asset. As a matter of fact, it is a product that increases its value in time so it could be seen as a proper investment as great collections are simply priceless.

So can we consider wine a worldwide luxury good? In my opinion, yes. In the future this sector will grow even more and penetrate new markets such as Asia. In particular, Italian wines have to follow the French model and maybe a cooperation will help to gain market share in the new markets.

 Francesco Baliva

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