Aurélien Valance
Deputy Managing Director, Sales and Operations
Introduction
Gerda Beziade : Château Margaux is a family-owned estate, and during our first interview in May 2022, you said that this was a comfortable situation, without pressure. Is that one of the reasons why you have been working for this magnificent estate for twenty-five years?
Aurélien Valance : Yes, that is indeed one of the reasons, because it allows for a very long-term vision. It is also a family that is very present, highly involved, and very human. Relationships are healthy, straightforward, and very pleasant, which ultimately makes day-to-day work quite easy.
GB : Is this human dimension perhaps also linked to wine?
AV : Yes, and Alexis is also passionate about wine. It’s quite extraordinary to be able to have discussions that are not only about Château Margaux, but also about our latest discoveries, our personal favourites, or simply the pleasure of the last bottle we drank.
GB : What, for you, have been the biggest changes since you arrived?
AV : There have been three major changes for me.
The first is that when I arrived, fine wines were not as sought after and did not have such global distribution. Prices were obviously much lower. Today, compared to twenty-five years ago, the reputation and, above all, the demand for our wines are much stronger. This allows us to go even further in terms of technique, precision, and selection during blending—hence the work we have been able to carry out.Of course, we remain farmers, dependent on nature, but today we must be much closer to the codes of luxury. Every detail counts. It is a real revolution compared to twenty-five years ago.
The second major change is the climate, which is no longer the same. It is warmer and drier. For the moment, this has been rather positive, with a succession of great vintages, which was not necessarily the case in the past.
The third major change came two years ago with the arrival of Alexis, who replaced his mother. The arrival of a new generation inevitably brings change. There was also the passing of Paul Pontallier, which had a major impact on me, as he was both my boss, my mentor, and my friend. These are the most significant changes I have experienced.
GB : So, for you, wine is not a luxury product?
AV : No, but all the codes of luxury must be respected. In the past, for example, a capsule that was not perfectly aligned or a small imperfection on the label might have been overlooked. Today, we are much more vigilant to ensure that the final product received by the wine lover is flawless. This is why we have implemented full traceability.
Unfortunately, wine cannot be scaled up or produced in greater quantities. That is the major difference with luxury goods. We remain above all an agricultural product, but one that must adopt the codes of luxury, because the prices we reach demand absolute irreproachability.
The Current Market
GB : How do you perceive the market for Bordeaux fine wines today?
AV : Above all, I see that Bordeaux has always gone through cycles. I experienced the first cycle in 2002–2003, which was quite difficult. I remember that when our 2002 en primeur wines were released, the price was €60, and I received a number of emails from négociants saying that this price was madness and that the wine would never increase in value.
I also experienced, of course, the collapse of Lehman Brothers in 2008, followed by 2013, which was another challenging period. Then came the post-Covid phase, which was extraordinary: 2020–2021 were fabulous years, with many importers and négociants increasing their stocks in anticipation of future sales.
Then came the war in Ukraine, inflation, rising energy costs, and higher interest rates. Everyone wanted to sell at the same time, which created an imbalance between supply and demand. As a result, the past three years have been difficult, with excessive stock levels that needed to be absorbed.
Fortunately, our commercial policy is based on the very long term, with the objective of selling our different vintages over a 40–50 year period. We still hold stocks from the 1980s and 1990s, which continue to be in demand due to their very limited availability. Many wine lovers are also looking for ex-château wines, which has allowed us, despite the recent situation, to remain relatively comfortable.
Moreover, our last three en primeur campaigns have gone well. Since early October, I have sensed a slight upturn, even though the situation remains fragile due to the geopolitical context. Nevertheless, there are a few positive signs.
GB : Have you put any initiatives in place to stimulate the market?
AV : Our main decision has been to adopt a long-term policy and therefore not to give in to falling market prices. On the contrary, we do not release wines when the trade already has sufficient stock. We remain attentive to demand, but the wines we sell to négociants are from later-released vintages. Our commercial policy will not change, and we do not intend to lower our prices. On the contrary, we want to show the trade that if a wine has been sold at a certain price, they can rely on Château Margaux: we will not offer it at a lower price a few months later. This is extremely important.
We also try to increase the number of tastings, particularly of Pavillon Rouge, and to travel in order to introduce our wines. I have just returned, for example, from nearly three weeks of travel in Korea, Japan, Australia, and New Zealand. In Japan, for instance, the importer had never sold so many wines following events.
There is still demand, so we need to help importers sell through their stocks. Sometimes they sell everything and then place large orders with a négociant, which allows the latter to reduce their inventory and restore a healthier situation. That is essentially what we are trying to achieve.
Pavillon Rouge
GB : What positioning would you like for Pavillon Rouge?
AV : I’m not sure we should really talk about positioning, but what matters to us is making it known that the quality of this wine has improved enormously—yet this is still not widely recognized, especially for recent vintages.
For a long time, Pavillon Rouge was perceived as a brand, whereas it is in fact a wine of exceptional quality. In reality, the parcel layout of Château Margaux has not changed for 350 years.
GB : Even though the wine is not produced from a specific parcel selection?
AV : Exactly. One must remember that the best terroirs were selected 500 years ago. The parcels of Château Margaux are the same as they were in 1855. Neither our predecessors nor the Mentzelopoulos family have purchased new parcels to expand the estate. The parcels that make up Pavillon Rouge today once constituted the entirety of Château Margaux. These are all extremely high-quality parcels—not second-tier terroirs, nor young vines. This wine has made tremendous progress and now reaches a very high level. Our goal is to have it tasted so that this quality becomes increasingly recognized.
During blending, our 80 hectares of red vines are divided into around 100 parcels—meaning 100 different wines. We are constantly trying to improve each of these wines. Some parcels, five years out of ten, produce the Grand Vin, and the other five years, Pavillon Rouge. We ask ourselves how we can improve consistency so that they produce the Grand Vin eight years out of ten: planting density, yields, pruning methods, grape variety, rootstock, mass selection… the possibilities are numerous.
We spend more time on the “challenging” parcels, even though all are of high quality, because they offer the greatest potential for improvement. The most “magical” parcels require less intervention, whereas those where quality can still be enhanced require more work. As a result, the production cost of the third wine or even bulk wine can sometimes be higher than that of the first wine.
The objective is to produce the 100 best wines possible. Then, during blending in January and February, we decide which wines to combine to create the best possible wine of the vintage, regardless of volume. For the Grand Vin, we have been able to do this since 1990. Before that, prices were too low to allow for such strict selection. Thanks to the Chinese market and the 2010 boom, we were able to strengthen this selection and create a third wine, Margaux du Château Margaux.
The process is similar for Pavillon Rouge: once the Grand Vin blend has been decided, we remove the corresponding samples, leaving us with 60 to 70 wines, and we repeat the process to create the best possible second wine, regardless of volume.
Today, Pavillon Rouge is the wine that has progressed the most. There are no longer any young vines: those destined for both the Grand Vin and Pavillon Rouge are around 35–40 years old, and concentration levels are similar. The difference between the Grand Vin and Pavillon Rouge lies in aromatic complexity and mouthfeel. The Grand Vin must be extremely soft, silky, almost creamy, without any rough edges. Pavillon Rouge, on the other hand, has slightly more perceptible, less refined tannins, but with comparable power. Today, it also has very significant ageing potential.
GB : Sometimes you allocate only around 30% of your total production to Pavillon Rouge, while overall production is also decreasing. Isn’t this limited volume a handicap for Pavillon Rouge?
AV : That’s a very good question, and one we ask ourselves every year during tastings. Perhaps having a larger volume of Pavillon Rouge, with slightly lower quality, could help its distribution. Even if there is a parcel that is very good, but once blended into Pavillon Rouge slightly pulls the wine down—even if it represents 10,000 bottles—we will not use it.
In fact, we are always guided by this requirement for excellence, and we want to produce the best wines possible.
GB : Many Bordeaux estate owners do not like their “second” wine being called a second wine, which is not always easy for consumers to understand. Does it bother you when Pavillon Rouge is referred to as the second wine of Château Margaux?
AV : Not at all, because that is exactly how we do it. There are no parcels dedicated to Pavillon Rouge. It is a second wine—we are not going to hide it.
GB : I saw a lovely film on LinkedIn in which you say that, even with your eyes closed, you recognize Château Margaux thanks to the magnificent avenue of plane trees. With your eyes closed, can you recognize Pavillon Rouge? And if so, why?
AV : No, I don’t think so. Sometimes I join visitors at Château Margaux for a tasting and I’m handed a glass. It is so good that I assume it is Château Margaux, and in the end I’m told it’s Pavillon Rouge. The quality of Pavillon Rouge has improved enormously.
I perceive the markers that define a Château Margaux wine: the perfume, the texture, the freshness, the length… But it’s not always easy. The truly great vintages of Pavillon Rouge are sometimes better than certain Grand Vin vintages from the 1980s or 1990s. There is therefore a Château Margaux identity, but distinguishing Pavillon Rouge is not so straightforward.
GB : So the difference lies in the tannic structure, as you mentioned?
AV : Yes. Normally, the Grand Vin offers even more softness and complexity, but if you don’t taste it side by side, Pavillon Rouge seems extraordinary. It is always comparison that allows you to perceive the difference.
GB : We tasted the 2022 and 2020 vintages, and I was particularly impressed by the 2020, even though the 2022 is very seductive at first glance. Then we tasted 2010 and 2003.
AV : 2010 is a vintage I love and that we serve often. It is 15 years old, yet still very young—it’s just the beginning of its adult life. It’s best decanted at least two hours in advance. It has great class and, for me, represents classic Bordeaux. It was the most concentrated vintage we have ever produced.
The 2020 vintage, for me, is a bit like 2010 but in a more modern version. Recently, we tasted Pavillon Rouge 2020 at 10 a.m. after decanting it at 9 a.m. I took the rest of the bottle home for the evening, and it was even better. Even after double decanting, that is rare and remarkable. It is a very great wine.
As for 2022, it is a broader wine, with a power that never fades. It is impressive in its scale and energy.
GB : For me, the 2022 is flattering, broader than other vintages, but it remains very much in the Pavillon Rouge style. The other vintages are a little more restrained. What do you think of the 2003 vintage?
AV : It’s a vintage that always amazes me, because it has retained freshness and complexity.
GB : What is your greatest Pavillon Rouge tasting memory?
AV : A very moving moment for me was tasting the 1900 vintage—before it was called Pavillon Rouge, when it was known as Château Margaux Second Wine—which was still very fresh, complex, and alive. It was a great moment.
Then, I adore every tasting of the 1990 vintage: it has immediate charm, it is such an easy wine to drink—you just want to share a magnum between two people. And many recent vintages—2010, 2016, 2018, 2019, 2020, 2022, 2023—are still very young but display levels of quality never reached before.
GB : Today, there is a lot of discussion in Bordeaux about drinkability—wines that should be more approachable when young. Is that something you want for Pavillon Rouge?
AV : No, it is not an objective in itself. Our priority is to make the 100 best wines possible. That said, climatic conditions have changed: it is warmer, so tannins are naturally softer, which results in greater drinkability. We are also more precise in the vineyard, allowing for better grape ripeness.
In terms of extraction, since 2018 we have been able to analyze tannin and anthocyanin levels in all our vats at any moment. This allows us to know exactly when to stop extraction. So if the wines are more charming when young, it is due to climate and precision—not because it is our intention.
We want soft tannins, but we are not going to extract Pavillon Rouge less. We must stay the course and make the best wine possible, according to our own taste—not according to the market. We simply hope that wine lovers will appreciate what we love, but our priority remains producing the best wine possible according to our own vision, not by following trends or journalists’ expectations.
GB : You have twice been French champion in blind tasting competitions. Do you still take part in tastings like that?
AV : Yes, it’s a passion. It allows you to judge quality without being influenced and to retain a stronger memory of the wine. I increasingly enjoy blind tasting, but only for one or two minutes—to truly imprint the memory for life and then enjoy the bottle. If you taste only blind, you lose the pure pleasure. At some point, you need to know what you’re tasting so you can stop thinking and simply enjoy the great wine.
GB : That is the purpose of every bottle—to be enjoyed.
AV : Absolutely.
The 2025 Vintage
GB : Could you say a few words about the 2025 vintage?
AV : We tasted the first lots last night, and it is extremely promising. I was struck by the homogeneity: even parcels that are sometimes a little light in terms of concentration show impressive colour and density. As for the great parcels, they are exceptionally successful.
Normally, we begin tastings in early January, and at that stage the wines often lack a bit of flesh. You usually have to wait until mid-January, or even the end of January, for them to reach their full breadth. Last night, I was amazed by the density and balance of the wines.
In terms of style, this was the first tasting, but after discussing it with Philippe Bascaules (Managing Director), it reminded us somewhat of the 2020 vintage. Despite a hot, dry summer, we were very patient with the harvest. We began picking the great Cabernets in the last week of September, which allowed us to achieve perfect phenolic ripeness and extract tannins of great quality.
It is a very powerful wine, yet without the high alcohol levels we saw in 2022. It is a little less broad and less expansive, but at this stage it appears very complete. It is still very early to judge, but it is highly promising.
GB : What were the yields?
AV : That is the most painful part: they are very low. Budbreak had already been affected in 2024, there were few bunches, and with the heat and drought, the berries were small. Yields were 22 hl/ha for the reds and 16 hl/ha for the whites. Fortunately, the quality is exceptional, which more than makes up for it.
Pavillon Rouge – Tasting Notes
2022 :
64% Cabernet Sauvignon, 24% Merlot, 7% Petit Verdot (not included in the Grand Vin this year), and 5% Cabernet Franc. Double-decanted.
This vintage will be remembered as one of the hottest and driest, during which the vine demonstrated remarkable resilience. The aromatics are seductive and floral, with notes of liquorice. On the palate, the wine stands out for its great softness—like cashmere lining the palate—supported by polished tannins and a lively yet measured freshness. A delight to enjoy in its youth, with very promising ageing potential.
2020 :
75% Cabernet Sauvignon, 18% Merlot, 5% Petit Verdot, and 2% Cabernet Franc. Double-decanted.
At first, the wine appears more reserved, but on the palate it is a display of great class. It possesses everything that defines an exceptional Margaux. Paul Pontallier liked to say, “Château Margaux is an iron fist in a velvet glove”—a description that perfectly fits this vintage. It stands out for its sublime purity and precision, with remarkable length on the palate. Fascinating and vibrant, it evolves beautifully in the glass. Aurélien Valance describes it as a modern interpretation of the outstanding 2010 vintage.
2010 :
66% Cabernet Sauvignon, 30% Merlot, and 4% Petit Verdot. Single decanting recommended by Thomas.
Like 2020, this vintage approaches the excellence of the Grand Vin, but in a more classical style. The aromas have already reached a tertiary stage, bringing complexity and depth—this is part of the signature of great Bordeaux wines, with real character. The palate is highly complex, with mentholated notes wrapped in an elegant tannic structure that gives the wine impressive length.
2003 :
57% Cabernet Sauvignon, 38% Merlot, 4% Petit Verdot, and 1% Cabernet Franc. Decanted.
The 2003 vintage will be remembered as one of the earliest, due to an exceptionally hot summer. This Pavillon Rouge retains remarkable freshness despite the heat. Its structure is lighter, yet still complex. Tasted blind, it would undoubtedly surprise even seasoned Pavillon Rouge enthusiasts. For me, one of the defining traits of a great terroir is its ability to maintain balance even when Mother Nature is capricious—and that is precisely the case here.
In Summary :
- Château Margaux is a family-ownedestate with a very long-term vision—human, stable, and consistent.
- Wine remains an agricultural product, but today it must fully respect the codes of luxury.
- Global demand and reputation have exploded over the past 25 years, allowing for much stricter selection.
- The Bordeaux market is cyclical; Margaux’s strategy is never to undermine prices.
- The commercial policy prioritizes consistency, loyalty to the trade, and patience.
- Pavillon Rouge is an openly acknowledged second wine, with no dedicated parcels.
- It represents around 33% of total production, following rigorous selection.
- The parcels are historically those of the Grand Vin—there is no “secondary” terroir.
- The quality of Pavillon Rouge has progressed spectacularly; some vintages rival older Grand Vins.
- Key difference:
- Grand Vin = ultimate silkiness and complexity.
- Pavillon Rouge = power, more pronounced tannins, and excellent ageing potential.
