My love for wine stemmed from an early age, I was born and raised in Ealing, West London to Italian parents, as with many who moved over in the 50’s my father brought with him the tradition of producing a family wine each year, importing grapes from his native Campania. My first serious job was as a fine wine broker in which I thrived and fell in love with the buzz of fine wines being traded as an asset.
In those early years I learnt a huge amount not only about the world of fine wine but also business in general. This ultimately led me to start my own business, as I sit here 20 years later I sometimes can’t believe how much the market has changed. The most marked difference that I have witnessed is the markets shift from a very closed, insular group of speculators to the thriving, global, almost mainstream alternative investment market we have today.
The main characteristics that I feel carried me through would also form the basis of my advice to anyone starting up in business. Determination and resilience are vital, I can recall many occasions when a situation could have propelled us towards our goals yet failed to do so, at that point it’s so important to stay focused, don’t allow emotion to govern your thinking and keep your mind on what you’re trying to achieve.
Sometimes when trying to push your business forward the temptation of taking on a business partner or excepting outside investment can be very attractive. I would always say believe in yourself and know your worth, many a time this is merely a physiological crutch and can have a nasty sting in the tail. Always try and push as far as you can on your own, you might well surprise yourself as to what you can achieve. If you are to enter into any partnerships don’t be rushed, talk to any business confidant and do all the due diligence needed.
Lastly, and I know every industry will differ but in my experience, you could do worse than having a fair bit of tenacity in your dealings. I am fortunate to love what I do but I still keep myself hungry and motivated, I think it’s vital to not only grow your business but to make sure that it’s improving. Over the last six years we have introduced at least one new element a year to our services that we believe will enhance our clients’ interaction with us as a business as well as their understanding of the market.
The fine wine market has made been firing on all cylinders over the last few years and has a proven track record of outperforming traditional assets and financial products. The market revolves around the basic principle of supply and demand. As the best wines age they improve in quality and also become harder to source. Paired with an increasing global demand, fine wine has a history of consistent, tax efficient capital growth.
There are also benefits for companies that want to acquire wines as an asset. Alongside the obvious tax benefits, fine wine is a great store of wealth and can be used to protect your capital during periods of uncertainty or underperformance. Market data is now more readily available than ever, so your company’s wine holdings can be performance tracked and valued at the touch of a button.
If you would like to learn more about Cult & Boutique and our approach to the wine market you can visit www.cultandboutique.com, or call us on 0208 948 9430.
Enzo Giannotta, is owner and founder of Cult Boutique, a fine wine brokerage. Enzo started his wine journey working with his father making homemade wine. In later life, he became Partner and Director of Portfolio Wines UK. In 2007, Enzo founded Cult & Boutique Wines Limited to conduct trade sales within the UK as well as working with private collectors, and in 2009 went on to establish Premier Red Fine Wine Limited to service Mainland Chinese HNW private clients and corporations, also providing access to the Asian market to UK based collectors.Enzo is a member of the London International Vinters Exchange and the London Chamber of Commerce & Industry.In 2013, Cult & Boutique held their first auction sale in conjunction with Bid for Wine/Dreweatts & Bloomsbury.@CultAndBoutique