Fine wine news

The Primum Familiae Vini (PMV), a group of 11 family-owned winemakers, has shown its commitment to longevity and the importance of doing business as a family.

Members to the PMV are invited only and consist of winemakers whose families have owned land for centuries. They include Château Mouton Rothschild, Vega Sicilia and Pol Roger.

Speaking at a tasting event in London last week, Frederic Drouhin, president of the group, highlighted the importance of sharing years of experience with each other and putting an emphasis on "generational exchange".

"In the past years bankers shocked the world with their short term vision. That’s not the aim of family businesses," he was cited by Harpers Wine & Spirit as saying.

"Making quick profits is not the aim of our companies."

He explained: "We plant vineyards for the long-term. We wait eight to ten years to get a good wine, but sometimes 30 to get a great one. What we do today won't payback for us, but for the next generation."

The PMV was set up in 1993 and only allows up to 12 families at one time.

Posted by Paula Henderson