« You must always put yourself at the level of the end consumer »
Annabelle Grellier
Marketing & Sales Director | Château d’Yquem
Introduction
Gerda Beziade : What are the main challenges you are facing?
Annabelle Grellier : The first challenge is getting Yquem into glasses… And into people’s minds. Our goal is to reignite the desire for it — even though Yquem continues to make people dream. When I first arrived, I received countless messages from friends, former colleagues, and partners: they congratulated me, but more importantly, they told me about their very first experience with Yquem. It’s amazing how deeply this wine stays in people’s memories. But it is still locked in a certain image: that of a wine reserved exclusively for dessert, and one that must be kept for many years before opening. We need to break that mold and encourage more spontaneous enjoyment.
G : Les problématiques ici, à Yquem, sont-elles similaires à celles que tu as connues chez Palmer, où tu as mené une belle carrière de Directrice marketing, communication et commerciale export pendant quatorze ans ?
AG : Not really. At Palmer, I spent ten years focused on communications, then four years on the commercial side. The commercial setup is very different. Palmer sells mainly en primeur, whereas at Yquem we sell only physical stock, working with a wider network of négociants. What’s particularly interesting about a March release of physical stock is that we have the first three months of the year to communicate and promote in the market, building momentum for the launch.
Another difference lies in the pricing strategy: in en primeur, price fluctuations can be significant. At Yquem, since the 2011 vintage, release prices have remained virtually stable. Here, the philosophy is about long-term value building. And at Yquem, time is measured on a very long scale indeed.
G : You’ve had an impressive career in the luxury sector, overseeing both communications and commercial operations. Do you see it as a strength to hold both responsibilities?
AG : Yes, absolutely. I need both. It was actually one of the reasons I accepted this position at Yquem. When I worked solely in communications, I longed to see the tangible results in the field. And when I focused purely on sales, I sometimes felt a frustration at the lack of tools created upstream to support the sales efforts.
These two functions are often seen as opposites — image on one side, business on the other — but when they feed into each other, they become far more powerful. At Yquem, I am committed to laying strong brand foundations that allow both Yquem and Y d’Yquem to express themselves more freely, more clearly, and to become even more desirable.
What is especially close to my heart is reviving the culture of Yquem. Its connection to literature, with authors such as Frédéric Dard or Colette, is part of the soul of the estate. Bringing this back to life will help Yquem shine once again as the great wine it has always been.
On the commercial front, I’m delighted: the release of Yquem 2022, despite a challenging context, was a success. It was well prepared and our partners had confidence in us.
G : Y Is there a lot of interaction between the parent company, LVMH, and you here at Yquem?
AG : Yes, especially when it comes to communications, with Pauline Frachon, who works with several of the group’s maisons. She helped us define Yquem’s brand platform. I’m still in regular contact with her today. On the commercial side, we work closely with LVMH Vins d’Exception. Their Managing Director, Mathieu Julien, knows Yquem very well, having previously served as our Sales Director. Together with his team of Business Development Managers, who are present in the field, they support four maisons of the group — Yquem, Cheval Blanc, Clos des Lambrays, and Colgin Cellars — to ensure distribution that is both qualitative and well-balanced.
G : Does this create a kind of synergy between you?
AG : Not exactly a synergy in the strict sense, as each maison has its own identity, policies, and strategies tailored to its wines. But yes, these exchanges are always interesting and enriching.
Markets & Strategy
G : What are your key markets?
AG : For Yquem, our two leading markets are the United States and France. We also have strong positions in several European markets such as the United Kingdom, Switzerland, and Italy. More surprisingly, it is the Asian markets that remain somewhat behind. Japan and South Korea consistently deliver solid results, but we still have work to do in developing China, Hong Kong, and other parts of Asia. These markets hold tremendous potential, but our footprint is still relatively limited.
G : Why has growth in these Asian markets been slow?
AG : Probably because we haven’t spent enough time there yet. It’s essential — especially when it comes to education. Historically, Asian consumers’ first preference has been for red wines. But we believe strongly in the potential of pairing Yquem with local gastronomy. With Asian cuisine, the harmonies can sometimes be spectacular. To succeed, we need to rely on the right personalities and partner with top chefs who can share this experience. In Hong Kong, for example, we already have a remarkable ambassador in Caprice, led by chef Guillaume Galliot.
G : Caprice is your first “Lighthouse.” Could you tell me more about this commercial strategy, introduced in 2021 by Lorenzo Pasquini (Managing Director of Yquem) and Mathieu Julien (Managing Director of LVMH Vins d’Exception)?
AG : Yes. The “Lighthouse” concept was born at Caprice. Guillaume Galliot and Victor Petiot, his head sommelier — both passionate about Yquem — wanted to rekindle consumption after the post-Covid period. From the moment they reopened, they started serving Yquem from an Impériale, creating a real event in the dining room and sparking strong desire. Today, they sell an Impériale roughly every ten days — which is absolutely extraordinary. This concept works when the venue is driven by true lovers of wine. Another great example is Emmanuel Cadieu at Le Cheval Blanc in Paris, an outstanding ambassador.
In the United States, SingleThread restaurant serves between 300 and 400 bottles of Yquem per year, with food pairings designed specifically around our wine. For us, building this network of exceptional venues, capable of telling the story of Yquem in a living, engaging way, is essential.
G : How many Lighthouses make up this global network of Yquem ambassador venues?
AG : There are currently 40, spread across the four corners of the globe. We strive to maintain a close, privileged relationship with each of them, and I’m not sure this community is meant to grow much larger. However, we believe strongly in the power of service by the glass. That is where we will be focusing our efforts in the coming months. The goal is clear: for every person, wherever they are in the world, to have the chance — at least once in their lifetime — to taste Yquem.
G : Quelles sont vos priorités en termes de développement commercial ?
AG : La priorité numéro un, c’est de développer les marchés asiatiques. Nous croyons également beaucoup au potentiel du marché indien, qui pour l’instant ne représente presque rien. Aujourd’hui, les caves des indiens fortunés sont essentiellement composées de vins rouges. Ils connaissent peu les vins liquoreux, et encore moins Yquem. Nous sommes convaincus qu’il faut tracer un véritable chemin dans ce pays.
Our second challenge is to strengthen our presence with wine merchants. That is one of our key objectives for the coming months: to accelerate and increase our visibility in this important distribution channel.
La Place
G : For years now, Bordeaux has been talking about the Indian market, and many wealthy Indians keep their cellars in London.
AG : That’s true, but their cellars are still mostly filled with red wines. They are not very familiar with sweet wines, and even less with Yquem. We are convinced that we must carve a clear path into this country. Our second challenge is to strengthen our presence with wine merchants. That will be a key focus in the coming months: to accelerate and increase our visibility in this distribution channel.
G : Both in France and abroad?
AG : Yes. For example, in the United States, where we are well represented in restaurants but still have limited presence in wine shops. We need to identify the right partners and work closely with them.
G : We’re also hearing more and more about the African continent as a new growth driver.
AG : Yes. Steve, one of the Business Development Managers for Vins d’Exception, who covers Europe, the Middle East, and Africa, recently toured the African continent. It’s a region where physical presence is essential — meeting local players and truly understanding their markets.
G : Yquem has been producing a dry white, Y d’Yquem, since 1959. Is your strategy for this wine the same as for Yquem?
AG : Y d’Yquem comes from the first “tries” of the harvest — we pick in several passes through the vineyard. For a long time, it was made mostly from the final pickings, using grapes that were not sufficiently botrytised to make it into Yquem. Since 2000, our philosophy has shifted: the goal is now to produce a more contemporary dry white. We harvest crisp Sauvignon Blancs that bring structure and freshness, blended with Sémillon — the emblematic grape of Sauternes and of Yquem.
When touched by noble rot, Sémillon develops intense aromatics, roundness, and a velvety texture that echo Yquem. Y is therefore not just another Bordeaux dry white, but truly a white wine of Sauternes, deeply rooted in its terroir. When tasting it, you already perceive a hint of what you will later find in Yquem: a touch of residual sugar that brings roundness and richness, a fine bitterness — a key element of Yquem — for length, and a subtle salinity from our clay soils.
In terms of communication, we have chosen to create two distinct worlds: for Y, we use photography to capture the moment; for Yquem, we lean on illustration and storytelling for a timeless approach. Commercially, we work with the négociants of the Place de Bordeaux. The goal is to ensure smooth, well-prepared releases, with a slightly smaller pool of partners for Y, given its more limited production.
G : How many négociants do you work with?
AG : Around 70 for Yquem and 50 for Y. The key is to surround ourselves with the best and make sure that every one of them — whether small, medium, or large — brings real added value. Annual production of Y is between 20,000 and 25,000 bottles. We could produce more, but it would be at the expense of Yquem, which we are not willing to do. Our mission — the reason we get up every morning — is to craft the great wine that is Yquem.
G : Should a dedicated Sauternes Blanc Sec appellation be created?
AG : Beyond the name — why not, as long as such an appellation would fully respect its Sauternes origins. In that case, yes, we would not be opposed, especially if it helps reinforce and showcase our unique identity.
G : This identity is also intimately linked to the Sauternes landscape, one of the most beautiful in the Bordeaux wine region
AG : Yes, you are absolutely right to mention that. What immediately charmed me when I arrived here was the beauty and diversity of the landscape. There are gentle slopes, preserved villages, and this harmony between vineyards, forests, and the Ciron river. The Ciron plays a crucial role: it helps maintain a very specific ecosystem, particularly favorable to the development of Botrytis cinerea.
The Present and Future of Distribution
G : How would you assess the current market situation?
AG : The situation is particularly complex, for reasons we all know: the geopolitical context, a challenging economic environment, high interest rates that discourage wine storage, saturated markets… The indicators are not exactly green. Yet I remain convinced that we must roll up our sleeves, think outside the box, be creative, and propose new solutions in order to keep moving forward.
Today, distribution is very fragmented. There are not many new markets left to discover, but there are still a few to explore.
G : Bernard Burtschy recently told me that “the Place de Bordeaux must reinvent itself because, as in the luxury sector — a world you have been part of since the start of your career — major brands are seeking to regain control of their distribution.” Do you share this view?
AG : Yes and no. When I first arrived in Bordeaux, I was surprised to see that the estates did not know either the final destination of their wines or their consumers. But after fifteen years here, I have come to appreciate the incredible strength of the Place de Bordeaux, its reach and its distribution power. It is something we could never replicate on our own.
That said, there are certainly adjustments to be made. We work more and more transparently and closely with our pool of négociants, in order to build a true relationship of trust. Each year we ask them for distribution statistics, and twice a year, a report on their stocks. This is not meant as a control tool, but as a way to identify our strengths and weaknesses and then build a joint action plan. These data also allow us to respond effectively to requests from importers and distributors who are seeking Yquem. We will continue down this path.
G : How many people make up your team?
AG : On the commercial side, I work with Cécile, who manages sales administration and builds the offers for physical stock, and with Hugo, who is responsible for CRM (consumer relationship management).
In addition, a new colleague, Louis Valette, will join my team in September to strengthen our presence in the markets, complementing the Business Development Managers of Vins d’Exception. They are in daily contact with our importers and help smooth sales. Louis’ mission will be to promote Yquem and increase its visibility in order to drive sales through the Place de Bordeaux.
G : Has it ever been a challenge to have four crus with different distribution types, involving several négociants for the distribution of Yquem and Cheval Blanc?
AG : Not at all. Within Vins d’Exception, we manage four crus: Clos des Lambrays, Château d’Yquem, Château Cheval Blanc, and Colgin Cellars — each with its own commercial strategy. Yquem and Cheval Blanc are sold through the Place de Bordeaux.
These four distribution strategies are very different, but the Business Development Managers handle them with intelligence and respect the distribution system specific to each estate.
G : Thomas Duroux, with whom you worked for 14 years, said: “In Bordeaux, we probably suffer from a lack of strong brands. There are some, but too few compared to other regions.” Do you agree with him?
AG : I completely agree. For me, Thomas is one of the most visionary people in Bordeaux, with a very precise understanding of the Bordeaux ecosystem. Thanks to his vision and his ability to surround himself with the right people, he made Palmer grow.
In Bordeaux, we have some wonderful brands, but they remain very elitist. What we lack are truly distributive brands — accessible, visible brands. I dream that, even the cooperatives, would join forces to create one or two strong brands capable of rekindling appetite for our wines.
We must also highlight that Bordeaux offers excellent value for money, with superb white wines from Entre-Deux-Mers or reds from Saint-Émilion or the Côtes de Castillon. It is a shame that Bordeaux’s image remains one of expensive wines.
G : Why is it so difficult to sell these wines?
AG : It’s a question I find myself asking more and more. I recently discussed it with some friends, including a wine broker, over dinner. We agreed that what is needed is a true collective project. One of the challenges is probably the vintage variation — to succeed, there needs to be exemplary consistency. Then there’s the question of communication and marketing: we must create a desirable wine, quickly recognizable, with strong brand awareness. Coordination among all the players will be difficult, but I still believe it is possible. To succeed, we must think beyond the usual framework.
G : Yes, how can we attract the new generation to our wines?
AG : This is a generation that switches quickly from one thing to another and drinks less and less wine — I see it even with my own children. But I’m not entirely pessimistic. Wine is, above all, a matter of education. When I was a student, I hardly drank wine at all; I started with cheap rosé from the supermarket. Learning to appreciate wine is a journey. It is up to us to guide young people in their discovery, to make them want to explore this extraordinary product.
Wine is often perceived as too elitist, too technical, which can intimidate or bore potential enthusiasts. Communication and marketing have an essential role to play: to tell authentic stories around our wines, with sincerity and passion. The younger generation is looking for that — but also for a strong connection to nature. We are fortunate to work in a sector where connection to terroir is fundamental, and we must highlight this discovery of place. Young people are drawn to experiences and to social media, such as Instagram, where we try to reach this generation through images that spark emotion and curiosity, inviting them to discover our wines.
The passing down of wine culture is no longer automatic from one generation to the next, so we need to find new ways to go out and meet them.
G : Is that why you’ve opened Yquem’s doors with a new style of visits?
AG : Yes, we are fortunate to work in an exceptional place that we want to share with as many people as possible. At Yquem, there has always been this spirit of generosity, even back in the days of the Lur Saluces family. This is a wine that we want to share and help others discover. We are delighted to see visitors strolling through the gardens. When they take the time to visit and taste several vintages, they gain a deeper understanding of the story and the place. It becomes a privileged moment of transmission.
Our terroir is complex, because Botrytis cinerea, this very special fungus, develops here with very low yields. People do not always realize the effort that goes into this. Jane Anson often says: “Sauternes is drunk by hedonists but made by masochists.” I love that line because, in just a few words, it captures perfectly what Sauternes is: a wine that requires extraordinary work to craft a product that is elevated by a fungus that winemakers everywhere else in the world try to fight.
G : You also have a syndicate with two presidents, Jean-Jacques Dubourdieu and David Bolzan, who are very active and full of innovative ideas.
AG : Yes, they are doing a remarkable job. Over the past few years, more and more journalists have taken an interest in the appellation, and the number of visitors has been steadily increasing in this incredibly beautiful region. The gastronomic and hospitality offering is also developing, which is gradually helping to create a very positive momentum around our wines.
LA PLACE DE BORDEAUX
G : How do you view the role of your pool of négociants in distribution?
AG : A négociant must first truly understand the wines they distribute. I remain convinced that today, thanks to the Place de Bordeaux, distribution benefits from exceptional reach and depth. For us, it is essential that our partners sell Yquem through a variety of networks. That is why we ask our négociants for information on their distribution: we need to make sure that each of them brings real added value.
We can only succeed if distribution is perfectly managed and reaches the final consumer. This is a sine qua non condition. If the wine remains stuck at the level of the négociant or with our importer partners, it creates problems for everyone.
G : For years, when Yquem was sold en primeur, it wasn’t very successful.
AG : Yes, because such significant price variations are too confusing for the consumer. You must always see things from the perspective of the end consumer. I understand the logic of the trade, but for the consumer, it is often disconcerting. Of course, there is a vintage effect, but sometimes a lesser-rated vintage would come out at a higher price than the previous one. This creates mistrust and misunderstanding. That is why we have implemented a stable pricing policy from one year to the next.
G : As Bernard Burtschy said, Bordeaux hasn’t thought enough about the end consumer?
AG : Certainly. We knew that the speculative bubble around Bordeaux wines would eventually burst, and that is what we are experiencing now. If we truly think about the end consumer, we must focus on consumption rather than speculation.
G : Do you still see a future for Bordeaux’s en primeur campaigns?
AG : I still believe that en primeur campaigns make sense — but perhaps not for all Bordeaux estates. The success of en primeur sales relies on two key elements: securing a price and guaranteeing an allocation. Today, these two conditions are no longer consistently met. We must return to the essence of what en primeur sales are supposed to be. Otherwise, there is no real reason for the end consumer to buy en primeur.
G : How do you see the role of the broker today, and how many do you work with?
AG : We work with five brokers. I didn’t immediately understand their role when I first arrived in Bordeaux. But today, I rely on them a great deal — and more and more. They know the négociants very well, probably better than we do. We, for our part, know the markets. The relationship with brokers is an integral part of the system and, for me, it continues to make a lot of sense. For example, for our market releases — which remain essential for Yquem sales each year — brokers are extremely important.
G : From the outside, it can be difficult to understand why Bordeaux still maintains a three-tier distribution system when the internet has shortened so many other distribution networks.
AG : If we really wanted to reduce the number of intermediaries, we would have to work exclusively with importers or distributors directly in each market. But we simply do not have the commercial power within the estate to manage that alone. I would even say that ten salespeople here at Yquem could not replace my sixty négociants and their commercial teams. They allow an extraordinary breadth of distribution for Yquem.
G : You could do it, though, since Yquem belongs to the world’s largest luxury group, which makes the majority of its sales directly to consumers.
AG : Yes, we could technically do it through Moët & Hennessy, but it is not currently on the agenda.
Conclusion
G : Can you already tell me a few words about the 2023 vintage?
AG : It’s a vintage of balance and harmony. We’ve just come through two extreme vintages, 2021 and 2022.
G : Yes, completely opposite ones.
AG : 2023 combines the best of 2021 and 2022. In Yquem’s history, we’ve had a mythical trilogy: 1988, 1989, and 1990. Today, a new trilogy seems to be taking shape with 2021, 2022, and 2023 — three very different vintages, but all expressing the richness and full potential of Sauternes.
2021 is all about freshness, almost ethereal, with incredible elegance. 2022 is one of extreme power — the vintage of heatwaves and drought, very exuberant. In 2023, we had everything we needed: rain, freshness to preserve acidity, a summer with ideal conditions for concentration, and perfectly timed rainfall to encourage the development of botrytis.
2023 was a natural success. Both Y d’Yquem and d’Yquem 2023 have turned out beautifully. What is particularly interesting in Y d’Yquem 2023 is the significant share of Sémillon — the highest since the evolution of this wine’s style. It is a way of reaffirming our commitment to anchoring “Y” firmly in the Sauternes identity
G : If you could keep just one “wine of the heart”?
AG : It would be Palmer. Working at Palmer was a deeply formative, even life-changing, experience. First thanks to Thomas Duroux’s vision, but also because of the estate’s history.
My first profession was communications, and I am especially sensitive to stories — the stories of places, of the men and women who have left their mark there. I have been fortunate to work for maisons that do not define themselves by the word “luxury,” because that word doesn’t mean much to me. At Hermès, they say: “We do not make luxury products, we make products of craftsmanship.” That idea resonates deeply with me: values of integrity, humility, transmission, transformation — working with nature and human hands to create something beautiful. All of it done with sincerity, authenticity, know-how, and an uncompromising pursuit of excellence over time.
At Palmer, I especially remember a vertical tasting we organized where I was absolutely blown away by Palmer 2016. It was a true coup de cœur. And I recall my very first dinner at Palmer — an evening of jazz, with the great pianist Jacky Terrasson performing as we drank Palmer 2009. Afterwards, we dined around vintages ending in 9, going back in time all the way to 1959. Those wines moved me in a way I had rarely experienced at a dinner table.
