The great Chateau Margaux has announced the retirement of the legendary Corrine Mentzelopoulos as she hands over the reins of the First Growth to her children.
Margaux's 'Grande Dame' steps down
Renowned as one of the great women in fine wine, Corrine Mentzelopoulos has shaped the fortunes of one of the most important wine estates in the world over the last four decades and influenced the profile and evolution of Bordeaux on the global stage in the modern era.
Corrine inherited Margaux just a few years after her father acquired the great vineyard in 1980. She reportedly invested 70million francs (pre-Euro) on redeveloping the estate including replanting vines aged over 30 years. She was guided by one of the greatest oenologists ever, Emile Peynaud, who also steered her to recruit up-and-coming wine maker, Paul Pontalier in 1983. Together Corrine and Paul created one of the most important partnerships in fine wine and grew the reputation of the quality of Chateau Margaux even further across the world.
Margaux is one of very few great estates to be owned by a single family and this is recognised as an important goal. A 75% stake in the Chateau had been sold in 1990 to the founder of Fiat, the Agnelli family who also owned Juventus Football Club. Corrine acquired the stake back in 2003, securing full control again into family hands.
What is the future for Chateau Margaux?
And so, on the 18th October, the Chateau announced a new phase in the management of Margaux. After 43 years at the helm Corrine is retiring and her son, Alexis Leven- Mentzelopoulos takes over as CEO. She is quoted as saying:
“I am deeply proud to see Alexis take over the reins of a company that I have managed for 43 years. It’s a natural progression in this great family adventure. … I have every confidence in the future of Chateau Margaux because I know that he will be able to continue the tradition of excellence that Chateau Margaux has maintained for five centuries, in a constant quest for progress and innovation.”
At just 30 years old, Alexis rises from Deputy General Manager responsible for strategy and development to the Head of Chateau Margaux. Youth isn’t an issue, his mother took on the same role at 27 with significantly more financial challenges than he and his sister Alexandra Petit- Mentzelopoulos face.
Alexandra has worked at the Chateau since 2012 as a brand ambassador and then took on the role of Deputy MD of Communication and Image in 2016. She now becomes President of Chateau Margaux’s holding company’s supervisory board.
The passing of control of one of the five First Growths to the next generation comes with huge responsibility. Alexis recognises the impeccable status Margaux has, as he takes charge, and the importance of his role to steer its future over the coming decades. The challenges are not insignificant even for a First Growth with all the imaginable resources needed to hand. Climate change, sustainability and changing consumer tastes in an increasingly competitive and diversified fine wine market are all significant factors to face in the coming months and years ahead.
Alexis Mentzelopoulos stated that “...it’s about finding the balance between inheriting the know-how and looking upwards and dealing with the present times. Along with my sister, I am firmly committed to continuing the family objective of making Chateau Margaux one of the greatest wines in the world."
Our view
Collectors and investors will note that the 2023 vintage, just harvested, will be the last with Corrine Mentzelopoulos at the helm and the start of the new era for Alexis and Alexandra. A vintage of change in this great estate’s 500-year history to date. We wish them all well.
For more information about Chateau Margaux and investing in its celebrated wines, speak to a member of our expert team on 0203 384 2262.