Contact us

Please fill in this form if you have any questions or require any further information from us. We will get back to you as soon as possible. We are committed to offering you, our client, tailored solutions that meet your individual needs. Please be advised that our range of private banking products and services are available to clients with a minimum investment of €500,000 (France) and €1,000,000 (Luxembourg, Monaco, Italy and Belgium). 

* Mandatory fields

Contacts

France: +33 (0)1 53 43 87 00 (9am - 6pm)

Luxembourg: +352 47 93 11 1 (8:30am - 5:30pm)

Monaco: +377 97 97 58 00 (9/12am - 2/5pm)

“Primeur 2025” ​wines: an outstanding vintage amid market tensions

The 2025 “primeur” campaign, unfolding in spring 2026, comes in a particularly distinctive context: a vintage of remarkable quality set against a fragile economic and commercial environment. This contrast represents a true test for the Bordeaux marketplace, balancing the excellence typically associated with vintages ending in five with heightened market caution.

Article by Matthieu Gombault, Head of Wine & Forest Expertise at Societe Generale Private Banking

A high-caliber 2025 vintage: precision, freshness and balance

The 2025 Bordeaux vintage is marked by a climatic paradox. Despite a hot, dry summer with several heatwaves, the wines display striking freshness and remarkable balance.

The growing season benefited from largely ideal conditions: even flowering, optimal ripening and grape harvests carried out in impeccable sanitary conditions. This consistency, combined with welcome late-summer rains, resulted in concentrated grapes without excessive alcohol levels, while preserving acidity. However, volumes are low – among the smallest seen in decades in certain areas.

Appellations and flagship wines: left bank leads the way, excellence across the board

While overall quality is high, certain appellations, or designations of origin, stand out in particular. On the Left Bank, the Médoc emerges as one of the clear winners of the vintage, driven by perfectly ripened Cabernet Sauvignon. Pauillac, Saint-Julien and Saint-Estèphe demonstrate impressive consistency, offering wines that are structured, deep and refined. On the Right Bank, quality is more heterogeneous, though the finest terroirs express themselves brilliantly. Dry white wines from Pessac-Léognan are also a notable success, combining tension, freshness and aromatic precision.

A gradual and strategic release schedule

As is the case every year, releases are spread between late April and early June, following a carefully managed schedule where each château selects its optimal launch window. The campaign opened at the end of April with early releases such as Pontet-Canet, Batailley and Lafon-Rochet, followed by major estates including Carbonnieux, Cheval Blanc and Cos d’Estournel.

Pricing and market trends: a delicate balance

Pricing is, more than ever, at the heart of this year’s campaign. After several commercially challenging vintages, the secondary market remains subdued, weighed down by significant stock levels and softer international demand. In this context, the market had been anticipating attractive pricing to rekindle interest, with reductions similar to previous years.

In reality, the situation remains mixed. While prices appear broadly stable at this stage, strategies diverge significantly. Cheval Blanc, for instance, surprised the market by increasing its release price by around 20% compared to last year. One month after the launch of the campaign, recent releases – particularly those of Lafite Rothschild and Angélus – confirm an upward trend in pricing, with increases ranging from +10% to +20% for Bordeaux’s top wines.

This marked heterogeneity reflects ongoing market uncertainty, as estates attempt to strike a delicate balance between preserving brand value and avoiding further strain on distributors who are still holding substantial inventories.

A campaign set against a structural market crisis

Beyond the vintage itself, the 2025 campaign is unfolding within a deeper structural crisis affecting the en primeur market. Several factors have been weakening Bordeaux’s position in recent years:
-a slowdown in international demand,
-a partial disengagement from consumers,
-increasing competition from other regions,
-and substantial stock levels of recent vintages.

The traditional model – purchasing early at a preferential price – is now being challenged. Buyers increasingly expect a meaningful discount compared to wines already available on the market; otherwise, the financial incentive diminishes. At the same time, the role of négociants, or wine wholesalers, is evolving, with tighter financing conditions prompting châteaux to adapt their commercial strategies.

Conclusion: a brilliant vintage – provided pricing is right

The 2025 vintage has all the attributes to rank among Bordeaux’s finest recent successes, combining concentration, freshness and elegance. Its quality is being widely praised by critics and industry professionals alike. However, its commercial success will depend on one key factor: pricing.

In a market searching for new benchmarks, en primeur 2025 will not be purchased on instinct, but selected carefully – wine by wine, château by château. For both enthusiasts and investors, this campaign may ultimately present compelling opportunities – provided Bordeaux succeeds in restoring a crucial balance between quality, price and confidence.