From Ribera del Duero to Tokaj: The Global Journey of Vega Sicilia With Pablo Alvarez

It is impossible to speak of the wines from Spain...at least the famous ones, without speaking about 1.) the Ribero del Duero and 2.) Vega Sicilia. When Wine Talks was asked to join a lunch at the Berverly Hilton Hotel and sit with Pable Alvarez, we responded with "Yes, please."
Pablo Alvarez is the kind of guest who logs 135 days a year circling the globe, sharing bottles and stories that most of us only dream of tasting. You will come away with far more than just a sense of Spanish terroir—you’ll get a rare look into the evolution of Vega Sicilia, Spain’s most iconic and enigmatic winery, through the eyes of the family now behind its legacy. Alvarez demystifies what sets Spanish wines apart, charting their rise from unsung regions of Europe to an era where Spanish labels are now coveted on international shelves—and in the cellars of those in the know. You’ll follow the Douro as it cuts through a tapestry of chalky soils and storied vineyards, and with it, unravel why only a fraction of Vega Sicilia’s land becomes wine worthy of the name. Terroir isn’t just a patch of dirt here—it’s the collected wisdom of generations, old clones with hidden stories, the philosophical tug-of-war between family and land.
Alongside wines, you may not expect tales of family business, the messy and miraculous transition of a real estate dynasty into winemaking royalty, or the moment Hungary’s legendary Tokaji called to the Alvarez clan across borders and regimes. Listen as Pablo reveals, with humility and humor, the magic in bottles once reserved for family tables, and why knowing the winemaker—really knowing who stands behind the label—matters more than ever in a landscape cluttered with ratings and €1 bottles. Whether you’re here for the esoteric, the historical, or simply a guide for your next drink, this episode is your passport: you’ll finish knowing how Spanish wines found their soul, how Tokaji’s acidity changes everything you thought about sweet wines, and why, in the end, the best wine is sometimes just the one you like.
Three Things You Will Learn
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The True Meaning of Terroir: Hear what makes the land and philosophy behind Spain’s greatest wines so distinctive, including how Vegas Sicilia’s unique soils and old clones influence every bottle.
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The Evolution of Spanish Wine: Discover how Spanish wine rose from humble beginnings, why its presence on shelves worldwide is changing, and what it takes to stand out in the modern marketplace.
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From Family Business to Global Legacy: Find out how a family of real estate visionaries fell in love with wine, took a chance on a legendary estate, expanded into Hungary’s Tokaji, and shaped an enduring family legacy in wine.
Enjoy.
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I remember one man who works in mega Sicilia during
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45 years and he told me,
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I don't know what is, but here happens something.
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Sit back and grab a glass. It's Wine
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Talks with Paul Kay.
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Hey, welcome to Wine Talks with Paul Kay. And we are at an away
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game today. We are at the beautiful Waldorf Astoria
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Hotel in Beverly Hills. And I want to tell a
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quick story to the, to the listeners because
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this nostalgic for me in that I study French
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and my dad speak French and we do things in French together.
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And this was the site of a restaurant in the 50s called Escoffier.
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And Auguste Scoffier was the father of French
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cuisine. And they opened a restaurant in
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1955 in his honor. And it lasted, I think, till the
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90s. It was a very famous place. So I'm very happy to be here. But
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we're here with Pablo Alvarez,
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son of the great David Alvarez of Vegas
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Cecilia Winery. And this is one of the most famous Spanish wines and
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wineries that has expanded into other parts of the world. We're going to talk about
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that. So welcome. Pablo, I appreciate you being in here and
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I know you're traveling around this this week. Yes, thank you very
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much. How many days does this trip going to take and what
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have you been doing? Well, this trip is very
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short. It's only just one week. I
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travel from Madrid to Las Vegas. I stay
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two days and a half in Las Vegas, another two days and a half in,
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in la and I am coming back to Spain again. You know, it's that
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I don't know if people understand generally because
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the wine business is a difficult business and you have to do these
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trips to get the word out on the winery. Excuse me. I'm
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very fortunate to have a friend in Mike Miller and inviting us
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to do this together. But, you know, that's, you know, two and a half days.
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You're constantly talking about the winery. You're hosting
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dinners, you're at dinners, you're at lunches. It's not good for
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the waistline you get. Nope. At all. I am
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50% of my life in diet and 50%. Really?
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That much travel? Yeah, but, well, the wine, the
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wine is a very different business. No, it's very special because
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I think there are not many business where the people
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wants to know who is behind the wine. That's true.
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So this is important then. I am traveling
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last year, 135 days now, and
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this year, I suppose is more or less the same. No. So
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that's amazing. It's necessary I'm traveling for all the world and the people
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wants to see me. No, well, of course we want to see you.
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Yeah, you look at, look at you. Beautiful. So
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it's very special business, no? So, you know, it's interesting.
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I'm not sure what direction, because I have so many questions and so many things
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to talk about. But let's talk about Spanish wine, since you're Traveling the world
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135 days a year doing this, and I read
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in your biography and in your. Your literature that, you know, Spanish wine
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wasn't always in the forefront of the wine world, but it's certainly
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gaining traction of late. And you see floor stacks in some
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nice markets now with all Spanish, you know, relationships. And
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a lot of the older brands that are less expensive or not less expensive,
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less pedigreed are still around. But there seems to be some
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very, very fine Spanish wines coming to. To the marketplace.
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Y. Of course, Spain is
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the second, the third wine producer in the world,
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no, But I don't know why
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the Spanish don't move so much. I think it's necessary to move. I think
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it's a lifestyle pace. So
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I think that the consumer don't know really
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well the Spanish wine. And the Spanish
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produce very, very good wines. Very good wines. Excellent wines.
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In fact, I had a master sommelier
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here. His name was Emmanuel Kamigi. We did a wonderful podcast
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with me, and he is one of the few winemaking master psalms, and
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he's in Purat making, making wines.
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And he's, you know, he understands it's a difficult business. You have to travel,
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you have to do these things. So Vegas Cecilia is
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in the Rivera D, which is below the Pyrenees
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by center of Spain. South of the Pyrenees is in the
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northwest from Madrid,
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and from the Pyrenees is from
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Priorad, for example. We are 700 kilometers. It's very far
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away, very far. We are in the Douro River. The Douro
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river. Who. The main part of the Douro river is in
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Spain, but Finnish in Portugal. In Portugal. So it cuts east
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to west or west to east. East to west is
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crossing the Dodo river and we are the
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Douro cross Vegas, Itilia and cross. Another two
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wineries that we have one in Toro region and another
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one in Rivera del Duro Leon. So the
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three wineries are crossed by the Douro River. So that's a.
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I've just learned this. Okay, so I'll be honest that my, my
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Spanish wine appellation, understanding of the terroir
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and understanding of what's made there is. It's elementary. Yes.
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You know, Rioja, Ribeira de Douro. But I've learned about the river
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and how it makes some changes direction in some parts of the Ribeiro
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de Douro. And the wines that we've tasted from there have been very fine
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and very complex. So what is it about the terroir? And what does the
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river bring? Is this fertile soil. What are we getting from the river that
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makes it so special? Well, in Vegas.
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Italia. Vegas Ithelia is a big property of
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1,000 hectares that I think is
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2,500 acres. Yes.
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But we only can have 200 hectares of
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vineyard because there are many kinds of soils.
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Rivera del Duro is a ballet that was made by
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the Douro river during million of years. So it's
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a riverbed. Yes. And then that produce
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many, many different type of soils. And not
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all the soils are great for produce a great
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grape. So in Vega we only
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can, if we want to produce a great wine, we only can use
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200 hectares of all the surface
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that we have of all the vineyards. So there are 19 different
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type of soils. And.
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But curiously, the better
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soils, the best terroir is the
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one has a lot of chalk. Yes.
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That we are in close to the limit.
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So that's sort of a non alkaline
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soil. You look, the soil is
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white. Is white? I don't know. So
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for me, I want to hear your definition of terroir.
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What do you attribute to the overall
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value of a wine's character? What part of the
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terroir would you consider? Obviously it's a soil, but sort of just a
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broad definition. It's not only the soil is
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the soil is the varieties, the clone
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is the climate all together is that terroir.
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I've been wanting to throw into that definition
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the winemakers or the owner's opinion of things, the
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influence that the family has. Because it's
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a holistic environment. Right. Everything that happens, happens for
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the Alvarez family, and everybody has a part in it. And I think that's part
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of the terroir too. I don't think it's just the biological or
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mechanical parts of winemaking. I think it's a whole philosophical thing as
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well. Do you agree with that or you don't have to agree with it, it's
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okay. But no, of course, that is not only
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that. No, it's all together. And
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the work that you are making in the vineyard
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during many, many years. But
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really we are working with the natural. We can make all
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the interpretation that we want. But
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why? I remember one man who works in
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mega civilia during 45 years. And he
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told me, I don't know what is, but here
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happens something. Yes, he
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doesn't know. That's the terroir. Yes, right. Is it
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natural? That is very. After you see, you can
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explain more or less. But really the
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true we don't know is something different. No.
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And this is the big thing in the wine,
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in the wine producer, not that you drink one
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wine from Burgundy and has one characteristics, although
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another one. This is the big thing in the wine. No, you're
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right. And I try to profess this and
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my listeners might be tired of hearing it, because
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there's something special about wine being made
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from grapes that accept the
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soil, that accept the philosophy, that accept the terroir.
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And it's a representation of where you come from, where you
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live, what was being done then. And when I was
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reading about your biography, it was talking about 1915, when
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demand for bulk wine subsided. And I find that
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very interesting and cyclical because it looks like the
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family back then, in 1915, who owned it, moved into more
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elegant wines, into family consumed wines. And I
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thought that was a really interesting comment, because you couldn't buy the
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wines, right? You could only get them from the family if they gave them to
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you. And that meant something that, that
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establishes for me the idea that this is between you and
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me, between my friends, between my family, that the value of this
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wine and what it for us when we drink it
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and the expression that we get from the soil and the
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winemaking is what draws us to the product.
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Right. And so. But I was interested because
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this cycle, this bulk wine cycle is back. Now,
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I can tell you in my side now, you're in a
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nice position with the way you have your estate and your wineries. But
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the consumer in America is barraged with bulk,
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bad wine. Yeah, right. Groupon,
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$3 a bottle. Yeah, right. What are you Gonna get for
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$3? They're bringing in
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€1 per liter juice from Europe.
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Is that any good? It's difficult
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to understand. No, but it's impossible. It's
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impossible. But in all the region,
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even the more famous region, there are very expensive
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wines, right? Medium price and very low price.
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So you can find in, in Japan here now,
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one bottle of Rioja by one euro.
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Yeah. Which is the. The in which you price start
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this wine? No, I don't know. You don't know how to do that, right? I
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don't want to do it, but. Well, is. Well, the
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wine business, the 90% of the wine
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business is price. Yes. Only
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we move in the 10% only.
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Well, but you're here for a reason. You're here in America,
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you're traveling 135 days a year. Because the
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messaging of what you're taught, the story, the idea behind a
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quality made wine, a family made wine, the story behind the wine, I
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think is a very important part of today's
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consumption. Of course, because won't the consumer
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get tired of drinking €1 wines?
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I mean they're just. They're not. They don't have that expression. They can't have
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that. Right. Isn't it by rule. They can't have that
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expression because there's just no technique involved. There's no terroir, there's
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no. Is that just the way it is? And every time is, I
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think is more difficult because every time it's produced more
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wines, more countries start to produce new
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wines. So for the consumer, it's impossible to
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know what is happening in the wine. They don't. They just. All they see
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is what's on the shelf. It's impossible. So it's necessary
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to come to explain, to help to
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them, to the consumers to know the wines that is
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producing the world. And before was
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very clear. You drink one Bordeaux and
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you know that is. You know, now it's very
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complicated. Yes, because during many years,
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for example, Parker in United States, in the wine world. No.
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He decide a little bit which
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one must be the style of the wines. No, that's right. You're
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right. That's exactly right. Everybody was moving to in. In
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this point of view. No. So it's. Every time
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was more difficult to know from where is one wine is.
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And so today is more difficult and more complex to know
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the. What is happening in the wine. You know this. I'm glad
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you brought that up because there is this also an a
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more. There's more ratings, there's more
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people ratings. There's, you know, every. They're throwing ratings around like, you
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know, there's just 90, 92, 95, 89. And the consumer now
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is. Is getting a little confused. And I hear this daily on what does
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that mean at the end? Well, I always
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say that the wine is to enjoy nothing more.
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And the people is listen to when
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somebody's speaking about the wines trying to understand.
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But at the end for me it's very easy. If the best
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wine for you is the one that you like nothing more.
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Why you prefer the fish or the beef? Well,
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is because you prefer nothing more. No. So in the wine is.
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Must be. Is necessary to. Don't introduce the
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wine in one very complicated system.
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It's very simple. No, it's more simple than we want
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to do. No, I think in the simplest form, it is what you like, drink
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what you want and drink. The number one question
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I get always particularly to a new wine drinker. Well,
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isn't it all subjective? Isn't it all just a matter of taste? And
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I suppose in the end, that's true, but don't we want to start with
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something that's correctly made, like, that's flawless, so to
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speak, and then. Okay, from there we decide. Now, the
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other thing that's important, I think that we're going to stumble on, is that
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your tastes change. Yes, of course.
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Of course. The taste change. So you might feel like Burgundy
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or Rioja or Ribeiro Duero, and then in
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five years, like, my wife won't drink Syrah. Yeah.
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I hope one day she does, because I like. Yeah, but maybe in a few
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years. I am sure that if you are drinking wines
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20 years ago today, you don't like the same
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wines that you start to appreciate 20 years ago.
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Why? Because you have one evolution
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in your taste, in your knowing of the wines.
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So for some wines, maybe it's necessary to.
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I always say that the consume of
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wine is like a pyramid. Yeah, pyramid, right? That's the word. Yeah.
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So in the base is the more simple wines, but then little by
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little, a few people arrive to the top, right? Yes,
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but it's normal that in the wine, you know. So that's an interesting thought,
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the pyramid. We don't mean the top
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necessarily by price. Right. We need the top in sort of,
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if, you know, not quality, complexity,
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part of its understanding what's going on. Like, Burgundy is a very complicated
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subject, and if you're interested in learning about it, you can learn about it. The
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books are out there. You can taste as much as you want. It's very expensive
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to taste Burgundy all the time. And
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I personally, today, and this is my 30th year of tasting,
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probably 100,000 wines through my career,
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I'm fascinated by that region of the world. But now I'm
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becoming very interested in what you. The Ribera, Dora
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particularly, and Spain in general, of what's happening. Because
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I'm a Francophile, and now you just go over the Pyrenees, and all of a
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sudden now you've got a whole new set of things to learn and understand. I
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like to learn about it. I have friends that have wonderful
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wine cellars. They know what they like, they drink what they like. They're not interested
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in hearing about it from me. Right. They don't. They don't want to hear the
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details on this. So I want to ask you a question about something.
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I'm reading your biography. In 1864, according to the
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timeline. I forgot the gentleman's name, the winemaker
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brought French varietals to the region. I don't know if he
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brought to the region or just to the winery. Eloise,
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what's his name, the founder? Yeah. He brought
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the French varieties to Vegas Sicilia. So.
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And this is a very. It's not touchy, but it's a subject matter that in
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certain parts of the world would cause lots of controversy and
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discussion. I'll name one. Armenia, since I'm from Armenia. And they don't want to
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bring French varietals. They want to grow indigenous varietals.
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And. But this gentleman had this idea. Was
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it because he understood French varietals or just felt tempranillo
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and Garnacha were not the grapes they wanted to grow or what was the.
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I think that he was a rich man and
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he traveled in Europe. So he knows the.
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The wines in France. No. And obviously, France
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create the wine culture. Yes. So
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he decided to create a winery in one place where
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never exist before vineyards. And he brought
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everything. He brought many kinds of French
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varieties and the Spanish varieties, too.
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Obviously, at today, the main aspect.
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Variety that is the Tempranillo Tintofino in
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Vega represent practically the 90% of the vineyards
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in that area. But we continue with Marlowe and Cabernet Sauvignon, for
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example, that this man was. Well,
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in 1876, he traveled to
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United States with his products. Yeah,
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I was in 1866 to travel from
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Spain. That's pretty. Excuse me. He. He.
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Is it. Was he the one that brought the brandy to Philadelphia? Yes.
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Universal Exposition of
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1876. That's amazing. Yes. It must
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be a very. I always say that must be a very special
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man to. To come in that moment and go to
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Philadelphia, because you don't go to Philadelphia unless you have to. Yeah. But
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celebrate the Exposition universe. Universal
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exposition. Yes. In 1876, it. Was it a wine.
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Was it a wine thing? No, no, I think that was a general
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exposition. No, it's like.
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Well, every time now, there are. The next. I think in
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this year is in. In Dubai.
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Oh, it is. Okay.
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I was in Sevilla. Well, every two years or three years
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is in one country. So we're still making brandy there or. No, no,
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no, no. I never. I never saw. I never
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taste. I never saw one bottle of Brandy. So I suppose
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that was finished in the 819 century. So
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are we going to be seeing super Spanish? Like, this
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is my little pet peeve. Right. So here we are in
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Tuscany, and they're not allowed to call
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grapes like Cabernet Merlot other than the indigenous grapes.
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You weren't allowed to identify them by the region. So you couldn't call a
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Chianti if you put Cabernet in there, Whatever. So they
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decided to start planting the French varietals, and then they call them Super
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Tuscans and they charge us a lot of money. So are we going to see
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super Spanish? Are there already super Spanish out there? And we're going to see.
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No, no, there are no super Spanish.
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Are you blending, though, the Merlot and the Tempranillo and the things. Yes,
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we produce basically two wines that is
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Balbuena and Unico, and we use the Merlot in Balbana
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and the Cabernet Sauvignon in the unique. Okay, so
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now you just touched on something. So you have the Ribera de Duero,
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but you have other properties and other brand lands throughout Spain.
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Correct. So, yes, you're in Rioja. I think in Rioja,
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in Toro region is another region that
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is a little bit more in the west,
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in the St. Laurent River. And
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in Rivera del Duero we have two Vegas, Sicilia and
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Alion. Italy was founded in
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1991, also relatively recent. Yes.
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30 years next year. Toro
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Pintia was founded in 2001,
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Rioja in 2009. And
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Tokayo, we start to work in Tokai in Hungary
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in 1993 after finish the
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communist period. So it's quite a. You're spread
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out. That's no wonder you're traveling so much.
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Uh, so with the. I want to stay on the French varietals just for
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a little longer. So have they
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over the years now adopted well to the terroir and the soil and
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creating. You ever bottle them by themselves or do they always blend the wines
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in? We. Well, our varieties, absolutely
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adapted to the soil and the climate,
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are very, very old clones that was in use in
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the 19th century. Wow. So it's very interesting.
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Yeah. And even
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there are. We
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have one very old parcel of 120
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years. Wow. Where we. We maintain
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27 different varieties.
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Really? 27 different. Yes, that
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was. We don't know why there are. But.
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And we found very old clones of Cabernet, for
375
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example, of Tempranillo too. That is very interesting,
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because in Bega,
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nobody thought about that. But for example,
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Bega was founded in 1864
379
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until 1927, during 70
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years was the only one winery
381
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that exists in all the region that today is Rivera del
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Duero. Really? Yes. That is a long tenure. And why did that
383
00:24:19,730 --> 00:24:23,530
happen? It was alone and then nobody
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thought. But Vegas Italia make a muscle
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selection. Why? Because. Well, they.
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00:24:30,490 --> 00:24:33,530
They use their own vineyard that they have
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to. To change to renovate the different
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00:24:37,370 --> 00:24:41,170
parcels or the new parcels. So nobody thought
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that was making one muscle circum. But they made.
390
00:24:44,450 --> 00:24:47,970
Interesting. That's very interesting. Is the value.
391
00:24:48,050 --> 00:24:51,730
For me, the great value of Vega is our vineyard. Now
392
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we have one vineyard. Absolutely. And
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perfectly adapted to the taroar.
394
00:24:59,970 --> 00:25:03,570
I may have to come visit. I noticed in your brochure here there's some
395
00:25:03,570 --> 00:25:07,170
beautiful accommodations there for guests. So
396
00:25:07,170 --> 00:25:11,010
we'll have to come check that out. What happened to when I
397
00:25:11,010 --> 00:25:14,750
was working my dad's store 70s, you know, there was just a
398
00:25:14,750 --> 00:25:18,590
handful of Spanish wines, Venus Segura, I think there was Marquis de
399
00:25:18,590 --> 00:25:21,470
Rascal. These brands,
400
00:25:23,230 --> 00:25:26,910
I don't see them as often. They seem to be mainstream
401
00:25:26,910 --> 00:25:30,630
or they became mainstream for a long time, but they don't
402
00:25:30,630 --> 00:25:34,030
seem to be around. Has the premium levels of
403
00:25:34,510 --> 00:25:38,270
wines like Feno Rivera, Dwar and other parts of Spain sort of taking
404
00:25:38,270 --> 00:25:41,810
over that. That style of wine that. Taking over those shelf
405
00:25:41,810 --> 00:25:45,530
spots from. From those big companies. They're still making tons of
406
00:25:45,530 --> 00:25:49,370
wine. And we're just. I just don't see it. I think that there are.
407
00:25:49,370 --> 00:25:53,090
In Rioja mainly, there are the more famous historically
408
00:25:53,170 --> 00:25:56,850
wineries in Spain. No? Well, if we don't speak about
409
00:25:57,250 --> 00:26:01,010
sherry region in the south. Yes, that is another
410
00:26:01,010 --> 00:26:04,690
world. No, but in Rioja there was very, very famous
411
00:26:04,850 --> 00:26:08,170
brands like Marquez de Riscalo, Marquez de
412
00:26:08,170 --> 00:26:10,210
Morita. Yes, Cune.
413
00:26:12,690 --> 00:26:16,210
The big brands. But I, I think that they
414
00:26:16,210 --> 00:26:19,850
change the philosophy of the company. Before was
415
00:26:19,850 --> 00:26:23,690
a small ones or medium. Today are
416
00:26:23,690 --> 00:26:27,089
very, very good companies, but very big companies.
417
00:26:27,250 --> 00:26:29,730
So they are. They, they. They've.
418
00:26:31,010 --> 00:26:34,530
I featured them in the 80s. Yeah, late
419
00:26:34,530 --> 00:26:38,250
80s. And they were fine wines. But the later versions
420
00:26:38,250 --> 00:26:41,170
and I'm talking about now let's say early 2000s,
421
00:26:43,390 --> 00:26:46,190
you know, larger quantities. I understand that it's. Yes, but well,
422
00:26:47,790 --> 00:26:51,630
at the end in the wine there are different wine
423
00:26:51,630 --> 00:26:55,230
business. Right. So you can go for. We
424
00:26:55,230 --> 00:26:57,950
try to follow the. The quality and
425
00:26:59,310 --> 00:27:02,950
somebody tried to follow the quantity. That is. Is
426
00:27:02,950 --> 00:27:06,550
okay. No, sure, I understand. It's different philosophies of the same
427
00:27:06,550 --> 00:27:09,230
business. So we Fast forward to
428
00:27:10,860 --> 00:27:14,540
1950, 1982. Now I had a conversation with
429
00:27:14,780 --> 00:27:18,300
winemaker at Chateau
430
00:27:18,300 --> 00:27:21,580
Lafitte's Chilean property, Los Vascos.
431
00:27:22,060 --> 00:27:25,580
And his story, which was very interesting to me was he was a.
432
00:27:26,220 --> 00:27:30,060
An accountant working for one of the big accounting firms
433
00:27:30,060 --> 00:27:33,780
that had lots of presence in the United States. He had the option of
434
00:27:33,780 --> 00:27:37,390
coming to America and getting a job in Chicago. And
435
00:27:37,390 --> 00:27:40,990
instead he took up an audit of this little
436
00:27:40,990 --> 00:27:44,790
winery in Chile called Los Vascos. And he was assigned the
437
00:27:44,790 --> 00:27:48,550
job by the Lafitte family to go
438
00:27:48,550 --> 00:27:52,350
look at it. But as an employee of the accounting firm, fell in
439
00:27:52,350 --> 00:27:56,030
love with the business and now has been the general manager for
440
00:27:56,030 --> 00:27:59,790
many, many, many years. And I get that sort of get that story
441
00:27:59,790 --> 00:28:03,310
out of how the property and the winery became part of the
442
00:28:03,310 --> 00:28:06,870
Alvarez family. You weren't in the wine business before. The family was
443
00:28:06,870 --> 00:28:10,290
not. No, no, we was not
444
00:28:11,330 --> 00:28:14,890
really the owner in that
445
00:28:14,890 --> 00:28:18,730
moment from Vegas Italia in the 80s, in the beginning of
446
00:28:18,730 --> 00:28:22,210
the 80s, he asked
447
00:28:22,610 --> 00:28:25,970
to ask to my father if we can find
448
00:28:26,370 --> 00:28:30,010
somebody who wants to buy Juega Sicilia. So he wants
449
00:28:30,010 --> 00:28:33,850
to sell the company. Why would he ask your father? Yes. Was your
450
00:28:33,850 --> 00:28:36,690
father in the real estate business? Yes. So we
451
00:28:37,580 --> 00:28:41,180
check outside from Spain, because in Spain
452
00:28:41,820 --> 00:28:45,260
in that moment, I remember the 80, 81
453
00:28:45,340 --> 00:28:49,140
was a big. There was a big crisis, economical crisis
454
00:28:49,140 --> 00:28:52,860
in Spain. So we saw, we look
455
00:28:53,179 --> 00:28:55,820
outside from Spain and we found
456
00:28:56,780 --> 00:29:00,380
somebody in England and Switzerland who
457
00:29:00,380 --> 00:29:04,020
wants to buy the winery. Really? And the
458
00:29:04,020 --> 00:29:07,100
first meeting that
459
00:29:08,140 --> 00:29:11,900
my father has with the owner of Vegas Italia to
460
00:29:11,900 --> 00:29:15,060
explain who was the people are
461
00:29:15,060 --> 00:29:18,700
interested in Tobias, he asked him,
462
00:29:19,500 --> 00:29:23,300
ask him if. Why he
463
00:29:23,300 --> 00:29:26,140
don't sell to my father.
464
00:29:27,740 --> 00:29:31,340
This is the beginning of the history because we never
465
00:29:31,340 --> 00:29:34,930
stay in the wine business. But maybe because was
466
00:29:35,890 --> 00:29:39,530
Vegas Ithilia, the more prestigious winery in Spain.
467
00:29:39,530 --> 00:29:43,330
And then. Well, and after close to one
468
00:29:43,330 --> 00:29:46,770
year, they. They say okay, and
469
00:29:46,930 --> 00:29:50,610
they sold to us. So your. Your father's
470
00:29:50,850 --> 00:29:54,650
soliciting offers. Yes. For a winery which was how
471
00:29:54,650 --> 00:29:58,250
many. I mean, was it just one facility and one. One vineyard,
472
00:29:58,250 --> 00:30:01,480
effectively. How many hectares do you think did you have originally?
473
00:30:02,280 --> 00:30:05,640
500 hectares in that. In that moment, yes, 100
474
00:30:05,640 --> 00:30:09,320
hectares. Okay, so 220 acres. Yeah, it's pretty good size.
475
00:30:09,400 --> 00:30:12,920
Yes. And he's like, gee, this looks
476
00:30:12,920 --> 00:30:16,359
pretty interesting. Knowing nothing about wine,
477
00:30:16,520 --> 00:30:20,240
but you knew the history of the winery and thought,
478
00:30:20,240 --> 00:30:23,440
well, gee, maybe it's time for a career change. Is that what he was thinking
479
00:30:23,440 --> 00:30:26,980
or what. I mean, this is a big jump going from, you know,
480
00:30:26,980 --> 00:30:30,820
commercial, let's say real estate, or what were you doing then? How old
481
00:30:30,820 --> 00:30:34,660
were you? Oh, well, I knew was
482
00:30:34,660 --> 00:30:37,660
a new business. Absolutely different. But yes,
483
00:30:38,140 --> 00:30:41,660
we, we was. My father was impressed by the
484
00:30:42,379 --> 00:30:45,740
quality and the prestige of the winery, you know.
485
00:30:46,220 --> 00:30:49,420
And he was thinking in
486
00:30:50,540 --> 00:30:53,340
a start in the quality product
487
00:30:54,220 --> 00:30:58,010
in the business. No. And he tried to
488
00:30:58,010 --> 00:31:01,650
make in that moment one very good hotel in
489
00:31:02,050 --> 00:31:04,690
one property that we have in the countryside.
490
00:31:05,730 --> 00:31:09,570
Always looking for the quality. Yes, always on quality. The wine
491
00:31:09,570 --> 00:31:13,050
was. And well, my
492
00:31:13,050 --> 00:31:16,690
father was a visionary. Visionary
493
00:31:16,690 --> 00:31:19,490
because. Visionary. Yes, that's right.
494
00:31:21,090 --> 00:31:24,620
Because in Spain was. Was
495
00:31:25,100 --> 00:31:28,780
close to start the culture in the wine. Yes,
496
00:31:28,780 --> 00:31:32,620
because before the wine was food, nothing more. Yeah, that
497
00:31:32,620 --> 00:31:35,900
was just part of the meal. Yes, it's part of the meal.
498
00:31:36,780 --> 00:31:40,300
And the people in Spain drink a lot of wine before, but
499
00:31:42,380 --> 00:31:44,540
every day with water, with.
500
00:31:46,540 --> 00:31:50,370
Was there a reason why the original. The family at the time was. Wanted to
501
00:31:50,370 --> 00:31:53,570
get out of the wine business. Was it? Was it. I'm sure it was making
502
00:31:53,570 --> 00:31:57,010
money or maybe it was making some or none and very hard to do in
503
00:31:57,010 --> 00:32:00,690
this business. But they were just tired is that they just didn't want to do
504
00:32:00,690 --> 00:32:04,450
it anymore or moving on to something else. It
505
00:32:04,450 --> 00:32:08,130
just happened to be a great opportunity for your family. It was
506
00:32:08,210 --> 00:32:11,930
a good opportunity. And we had
507
00:32:11,930 --> 00:32:15,650
another business very big. But we want to
508
00:32:15,970 --> 00:32:19,560
start in another kind of business now. Are you working with your brothers?
509
00:32:20,920 --> 00:32:24,560
Yes, well, I am today. I couldn't do that. And in the
510
00:32:24,560 --> 00:32:28,000
beginning my father told me that you must occupy of the
511
00:32:28,000 --> 00:32:31,320
wine. Yeah, okay. And then I start. I am
512
00:32:31,720 --> 00:32:35,560
always say that I was very lucky because I
513
00:32:37,240 --> 00:32:40,880
immediately. I was in love from my work. Yes, it's very
514
00:32:40,880 --> 00:32:44,010
lucky. I think it's very important. And.
515
00:32:46,090 --> 00:32:49,810
And I am the responsible in my family of all
516
00:32:49,810 --> 00:32:52,730
the wineries but their families there though
517
00:32:53,450 --> 00:32:56,890
not yet. We are now making the.
518
00:32:58,490 --> 00:33:02,250
The organization of the next generation in
519
00:33:02,250 --> 00:33:06,010
the family business. Not that sometimes it's not very easy, you know,
520
00:33:06,090 --> 00:33:09,850
it's. No, it's not easy. My brother called me yesterday
521
00:33:10,740 --> 00:33:13,940
and my father's old, he's 91, but he's doing okay. And he says.
522
00:33:14,580 --> 00:33:18,420
He says to me, what do you talk about with dad
523
00:33:18,420 --> 00:33:22,220
now? My brother's older than me, he's 66. I said, well, I'm very
524
00:33:22,220 --> 00:33:25,820
fortunate because I worked with him in this industry for, you know, a long
525
00:33:25,820 --> 00:33:29,220
time. I. I worked in the liquor store in the 70s and then I bought
526
00:33:29,220 --> 00:33:32,980
it from him in 1988. And he's been a close associate
527
00:33:32,980 --> 00:33:36,700
of mine, so to speak, when it comes to wine conversation, discussion and the
528
00:33:36,700 --> 00:33:40,160
passion. And for me, the passion wasn't immediate.
529
00:33:40,800 --> 00:33:44,320
It was. I grew into the
530
00:33:44,320 --> 00:33:47,360
idea of what wine should be and feels like and
531
00:33:48,080 --> 00:33:51,760
brings to the table, so to speak. No pun intended in
532
00:33:51,760 --> 00:33:55,520
your Life as a. As a product, you know, as a. As
533
00:33:55,520 --> 00:33:59,360
a beverage. So I'm very fortunate, able to have
534
00:33:59,360 --> 00:34:03,160
those conversations and share with him the passion
535
00:34:03,160 --> 00:34:06,320
of wine. His passion is different. His.
536
00:34:07,580 --> 00:34:11,060
I just heard the story. I did a podcast with him recently, about an hour
537
00:34:11,060 --> 00:34:13,580
and a half, and he, he was telling me that
538
00:34:14,620 --> 00:34:18,340
he only started it looking at wine, because when
539
00:34:18,340 --> 00:34:22,140
he bought his last pharmacy, because he had six pharmacies,
540
00:34:22,939 --> 00:34:26,460
he insisted that the gentleman sell the liquor store as well. And it was really
541
00:34:26,460 --> 00:34:30,260
liquor. It was booze, ice and ice cream. Right. And he goes, I know
542
00:34:30,260 --> 00:34:34,020
nothing about wine. So he started this. He's a very academic guy, being a
543
00:34:34,020 --> 00:34:37,180
pharmacist or a chemist. He started this active
544
00:34:37,610 --> 00:34:40,850
attempt to learn what he could about wine. And the stories are fascinating, what he
545
00:34:40,850 --> 00:34:44,610
learned and this. I'm, I feel very fortunate, I'm. I'm guessing you
546
00:34:44,610 --> 00:34:48,170
do, too, to have this relationship with
547
00:34:48,970 --> 00:34:51,530
not only the family business, but with wine,
548
00:34:53,850 --> 00:34:57,650
you're not sure. So I, you know, working
549
00:34:57,650 --> 00:35:01,050
in the family, I like, I couldn't work with my brother. Right.
550
00:35:01,450 --> 00:35:05,130
I don't think that would work. Yeah, you cannot work my
551
00:35:05,130 --> 00:35:08,610
sister either. Well, see, the problem in the, in the
552
00:35:08,610 --> 00:35:12,370
families, the families. Is a family business is difficult. No,
553
00:35:12,370 --> 00:35:15,970
it is. And it's not for the business. It's for the family.
554
00:35:16,050 --> 00:35:19,410
Yeah, exactly. In the family, there are many,
555
00:35:19,570 --> 00:35:22,850
many different personalities. No. And,
556
00:35:23,730 --> 00:35:27,410
well, you. Maybe you cannot work with your brother. Maybe
557
00:35:27,810 --> 00:35:31,450
with one brother of mine, I cannot work. Yeah, because we
558
00:35:31,450 --> 00:35:34,510
have different personalities. But. But
559
00:35:35,390 --> 00:35:38,990
it's not very easy to organize the relationship between
560
00:35:39,470 --> 00:35:42,190
all the members of the family. And mainly
561
00:35:43,070 --> 00:35:46,790
when you only have. You are four brothers or sister is
562
00:35:46,790 --> 00:35:50,029
okay. When you are seven brothers and sister,
563
00:35:51,470 --> 00:35:54,670
15 nephews.
564
00:35:56,110 --> 00:35:59,720
So it's necessary to be very strict, very
565
00:35:59,720 --> 00:36:03,560
straight. No. We're going to wrap this up
566
00:36:03,560 --> 00:36:06,760
with this last little conversation, which may take a little bit of time because I'm
567
00:36:06,760 --> 00:36:10,400
interested to know you're in Spain. You. You. You
568
00:36:10,400 --> 00:36:14,080
bought the winery. The family bought the winery. They hadn't been in the wine business
569
00:36:14,080 --> 00:36:17,400
before you decided to expand, and you've been
570
00:36:17,400 --> 00:36:21,120
expanding into other parts of Spain, but you decided
571
00:36:21,120 --> 00:36:24,880
to go into Hungary and work with the Tokai wines,
572
00:36:25,480 --> 00:36:29,000
which are dessert wines by trade, and
573
00:36:29,240 --> 00:36:32,600
they're very botrytis, meaning they've got noble
574
00:36:32,600 --> 00:36:36,360
rotted dessert wines. But they're hungry. And so
575
00:36:37,320 --> 00:36:40,280
let's just go back to the family thing. How did the family decide
576
00:36:40,999 --> 00:36:44,560
that this was going to be a good idea? Well, we
577
00:36:44,560 --> 00:36:48,280
read the origin of all this is because we
578
00:36:48,280 --> 00:36:51,160
read in the newspaper that the governor from Hungary
579
00:36:51,990 --> 00:36:55,710
was trying to make the privatization of Tokay. Ah, this
580
00:36:55,710 --> 00:36:59,110
is the origin of everything. Then we.
581
00:37:00,550 --> 00:37:04,390
The government owned the vineyards then. Sorry, the government owned the vineyards at
582
00:37:04,390 --> 00:37:07,830
that time? Yes. Well, this is a
583
00:37:07,830 --> 00:37:11,110
partnership complex system. No, but they control everything.
584
00:37:12,070 --> 00:37:15,750
So if they don't want. It's impossible. Yes. To make anything
585
00:37:15,750 --> 00:37:18,880
into. You know, in. In Hungary. So
586
00:37:19,840 --> 00:37:22,240
we went to speak with them.
587
00:37:23,440 --> 00:37:24,240
We stay
588
00:37:26,880 --> 00:37:29,920
speaking with the government more than one year because
589
00:37:30,640 --> 00:37:34,240
for them it's difficult to understand that somebody from Spain
590
00:37:34,240 --> 00:37:37,440
wants to go to court. They understand that,
591
00:37:38,160 --> 00:37:41,960
for example France. Somebody from France go to. Yeah,
592
00:37:41,960 --> 00:37:45,650
that makes sense. But Spain. Spain was. No, they don't understand.
593
00:37:46,770 --> 00:37:50,450
So. But after one year and a half we. We finish
594
00:37:50,530 --> 00:37:53,890
one agreement. In the beginning, in the
595
00:37:53,890 --> 00:37:57,250
society they have free obviously
596
00:37:57,330 --> 00:38:00,370
30% of the company today
597
00:38:01,170 --> 00:38:04,850
because we invest more money. And
598
00:38:04,850 --> 00:38:06,090
today they have the
599
00:38:06,090 --> 00:38:09,690
0.0001 of the
600
00:38:09,690 --> 00:38:13,170
companies. So started as a wholly owned by the government, you
601
00:38:13,170 --> 00:38:16,920
invested, you owned 30%. So it was a sort of a. What they call
602
00:38:16,920 --> 00:38:20,560
a public private relationship then. Right. And over time now
603
00:38:20,560 --> 00:38:24,280
it's become basically a private business. So now
604
00:38:24,280 --> 00:38:28,080
in Tokai and. Well, from in the beginning we. Today
605
00:38:28,080 --> 00:38:31,280
we have 120 hectares in Tokai.
606
00:38:32,400 --> 00:38:36,080
Tokai is the one of the
607
00:38:36,160 --> 00:38:37,840
greatest wine in the world.
608
00:38:39,760 --> 00:38:43,400
Not many people know the region and the wines, but
609
00:38:43,400 --> 00:38:47,070
are fantastic wines and uni
610
00:38:47,070 --> 00:38:50,630
wines and was the more famous wines during centuries. In
611
00:38:50,630 --> 00:38:54,230
1718 Tokai is produced more than 400 years
612
00:38:54,230 --> 00:38:58,070
ago. Wow. The people don't know this. And. And
613
00:38:58,150 --> 00:39:01,830
for example Sauternes produced 200 years ago Tokay
614
00:39:01,910 --> 00:39:05,430
400 years. Well, you said Louis XIV thought it was the best wine ever. I'm
615
00:39:05,430 --> 00:39:08,630
sure this Barsack and Saturn guys weren't happy about that.
616
00:39:09,110 --> 00:39:12,790
It's just Louis the 14th told that Tokayo was the
617
00:39:12,790 --> 00:39:16,230
king of the wines and the wine of the kings. That's amazing. So
618
00:39:16,550 --> 00:39:20,290
I don't rem remember my European history that well, but I know that the Armenians
619
00:39:21,250 --> 00:39:24,970
that part of the world. The Soviets Left Armenia in 1988, I think
620
00:39:24,970 --> 00:39:27,970
it was. When did the Soviets leave Hungary?
621
00:39:28,770 --> 00:39:32,570
In 1990. So right
622
00:39:32,570 --> 00:39:35,530
around the same time, say at the same time. So when we were there in
623
00:39:35,530 --> 00:39:39,290
Budapest and I don't know how far that is from Tokai, but I was
624
00:39:39,290 --> 00:39:43,050
my. My impression of the. Of Budapest, which
625
00:39:43,050 --> 00:39:46,840
was a wonderful, wonderful city. And we
626
00:39:46,840 --> 00:39:49,480
had a. We. I was joking. We had a beautiful hotel, but it wasn't the
627
00:39:49,480 --> 00:39:53,200
Four Seasons. We were walking down the street,
628
00:39:53,200 --> 00:39:57,040
we see a restaurant looked like it was really fun. We had unbelievable food in
629
00:39:57,040 --> 00:39:59,959
there and it turns out it was a Michelin starred restaurant. I don't know one
630
00:39:59,959 --> 00:40:03,120
or two stars. And we had a bottle of angry Bickavur.
631
00:40:03,440 --> 00:40:07,200
And it struck me as a town emerging with
632
00:40:08,320 --> 00:40:12,120
trying to be a European town. Like it was a European cultured town. The
633
00:40:12,120 --> 00:40:15,940
Soviets sort of stopped that put an end to it and
634
00:40:15,940 --> 00:40:19,540
now it's emerging again. Do you get that feeling when you're there? Well, you know,
635
00:40:19,540 --> 00:40:23,260
I think that Budapest was
636
00:40:25,180 --> 00:40:28,300
everything changed in mainly in the first
637
00:40:30,300 --> 00:40:33,340
World War. One World War. Why? Because
638
00:40:33,980 --> 00:40:37,340
in that moment was the empire Austro
639
00:40:37,340 --> 00:40:40,540
Ungaro. Empire.
640
00:40:41,020 --> 00:40:44,860
Empire, yeah. That was all
641
00:40:44,860 --> 00:40:48,060
together Germany, Austria, Hungaria,
642
00:40:48,460 --> 00:40:51,500
Hungary. And so was very very important
643
00:40:52,860 --> 00:40:56,460
city. Not today it was for example the 1/3
644
00:40:56,780 --> 00:40:59,900
of Austria was from
645
00:41:00,380 --> 00:41:04,060
Hungary. Really in that moment. I didn't know that. That's interesting.
646
00:41:04,540 --> 00:41:08,300
That's the influence. That's the European influence. The capital
647
00:41:08,380 --> 00:41:12,050
of Budapest was a very important city in
648
00:41:12,050 --> 00:41:15,410
Europe in that moment. After the first World War
649
00:41:16,130 --> 00:41:19,810
start to change. And after when the. I think that
650
00:41:19,810 --> 00:41:23,170
the Soviet the communists come to Tokai to
651
00:41:23,650 --> 00:41:27,489
Hungary in 50 something. It's a very
652
00:41:27,489 --> 00:41:30,690
stoic city. There's a lot of pride there too that
653
00:41:31,570 --> 00:41:34,290
and was. I heard that was famous
654
00:41:35,490 --> 00:41:39,340
Budapest because was the. The best city
655
00:41:39,500 --> 00:41:42,580
for tweet in all the Republic
656
00:41:42,580 --> 00:41:46,380
Socialists. Yeah, that makes sense. Yes. Based on what
657
00:41:46,380 --> 00:41:50,140
I saw. It makes sense. So what is the general
658
00:41:50,140 --> 00:41:52,220
now that you mentioned this earlier about Tokai
659
00:41:53,660 --> 00:41:57,300
dessert. Let's just take the west coast, California for instance. Where.
660
00:41:57,300 --> 00:42:00,900
Where I grew up. You don't see a lot of dessert wine
661
00:42:00,900 --> 00:42:03,910
being consumed. You don't see a lot of port. Though I do sell a lot
662
00:42:03,910 --> 00:42:07,430
of port at Christmas time. It's not something that's
663
00:42:07,430 --> 00:42:11,270
discussed at the dinner table. It's very rare. I go to somebody's house for dinner
664
00:42:11,270 --> 00:42:14,830
and I get served a dessert wine or port. I like to do that. Or
665
00:42:14,830 --> 00:42:18,630
brandy. So what's the worldwide reception of Tokai right now?
666
00:42:18,630 --> 00:42:22,310
Is it emerging? Is it growing? Yes, it's growing little by
667
00:42:22,310 --> 00:42:26,150
little. Because. Well, if you say that
668
00:42:26,390 --> 00:42:29,880
this wine is from Hungary. Nobody
669
00:42:29,880 --> 00:42:33,680
identify hungry with wine. No this angry bickover. That's
670
00:42:33,680 --> 00:42:37,280
all we know. Right. But when the people
671
00:42:37,840 --> 00:42:41,520
taste are very impressed and in the
672
00:42:41,520 --> 00:42:43,440
sweet wine in the botrytis
673
00:42:45,120 --> 00:42:48,720
wines produce I think is
674
00:42:49,440 --> 00:42:52,720
the best wine. Because have something different
675
00:42:53,440 --> 00:42:56,220
of all them. All the rest sweet wines that
676
00:42:57,170 --> 00:43:00,850
normally the. The sweet wines are too sweet. No, no. Yes.
677
00:43:00,850 --> 00:43:04,530
But Tokai has one natural acidity that make
678
00:43:05,010 --> 00:43:08,370
the wines very drinkable. Very fresh, very
679
00:43:09,170 --> 00:43:12,930
fantastic. Now the balance between sugar and acidity.
680
00:43:13,010 --> 00:43:16,690
And are we tasting some of those today? Yes. Okay, good.
681
00:43:18,130 --> 00:43:21,490
You know, I went to a luncheon a few weeks ago with
682
00:43:21,490 --> 00:43:25,210
Chateau Yikem. And my father and I were discussing
683
00:43:25,210 --> 00:43:28,810
this together the other day. He said, well, what do they
684
00:43:28,810 --> 00:43:32,490
serve with those wines? I said, dad, we had a full four course
685
00:43:32,570 --> 00:43:36,330
meal with different vintages of Ikem. And
686
00:43:36,330 --> 00:43:39,410
you would think off the top of your head that they're too sweet for some
687
00:43:39,410 --> 00:43:43,210
meals, but the pairings were phenomenal. And some fishes
688
00:43:43,210 --> 00:43:46,970
and things, because it's not that cloying, it's not that sweet and
689
00:43:46,970 --> 00:43:50,090
it sounds like Tokai. Well, I know Tokay is the same way, but I can
690
00:43:50,090 --> 00:43:53,940
see now that you can serve those wines with the meal.
691
00:43:53,940 --> 00:43:57,300
As part of the meal, you don't have to wait till dessert, right? Yes. And
692
00:43:57,300 --> 00:44:01,020
you're making some dry wines there as well. How
693
00:44:01,020 --> 00:44:03,940
did that come about? And we'll wrap this up because you have to get the
694
00:44:03,940 --> 00:44:07,740
lunch. I'm gonna have lunch. But how? It's the
695
00:44:07,740 --> 00:44:11,540
same grapes, venting them
696
00:44:11,540 --> 00:44:15,340
all the way through. Yes. We saw because to produce
697
00:44:15,340 --> 00:44:19,070
the sweet in Tokay, there are two
698
00:44:19,070 --> 00:44:22,750
harvests. One to make the dry wine. And
699
00:44:22,750 --> 00:44:25,910
after we keep some parcels for the sweet
700
00:44:26,550 --> 00:44:30,310
and the grape sweets. And
701
00:44:30,310 --> 00:44:34,070
the dry wine is mixed to produce a new fermentation.
702
00:44:34,470 --> 00:44:38,310
Really? This is the origin? Yes, the original, but never
703
00:44:38,390 --> 00:44:41,510
before. Nobody before thought to
704
00:44:41,510 --> 00:44:44,940
commercialize the dry wine. And
705
00:44:45,020 --> 00:44:48,740
like we saw that the sweet wine is
706
00:44:48,740 --> 00:44:52,500
a limited market. Yes. So
707
00:44:52,500 --> 00:44:55,020
we decide to start in
708
00:44:55,340 --> 00:44:58,620
1999, we decide to
709
00:44:58,940 --> 00:45:02,700
start to commercialize the dry wine. The dry wine
710
00:45:02,700 --> 00:45:06,540
is produced with a full mint. But it is
711
00:45:06,540 --> 00:45:10,310
the main variety in Tokai is the, the variety who give
712
00:45:10,390 --> 00:45:13,430
this fantastic acidity to the sweet wines
713
00:45:14,150 --> 00:45:17,910
and represent today the 80% of the vineyards in
714
00:45:17,910 --> 00:45:21,430
Tokayo. And well, it's a
715
00:45:21,750 --> 00:45:23,270
very, very nice wine.
716
00:45:25,750 --> 00:45:29,270
It's a wine that you can keep 10, 15
717
00:45:29,270 --> 00:45:32,710
years perfectly. It's Montaigne, John.
718
00:45:32,870 --> 00:45:36,670
Really? Yes, it's very, very nice wine. That's interesting. But the
719
00:45:36,670 --> 00:45:40,490
people don't know. Well, we are now showing in
720
00:45:40,490 --> 00:45:44,250
the world that you can do it.
721
00:45:44,250 --> 00:45:47,890
No, it's very, it's very successful. And the people
722
00:45:47,890 --> 00:45:51,650
likes when they, they drink. And we are making
723
00:45:51,650 --> 00:45:55,410
a big effort in. To show how is the wine.
724
00:45:56,770 --> 00:46:00,410
So am I able to get this wine from the, from the great Golden
725
00:46:00,410 --> 00:46:04,130
State Wholesale Group, this dry Tokai
726
00:46:04,130 --> 00:46:05,880
wine? Yes.
727
00:46:08,360 --> 00:46:10,760
You know, I don't want to take any more of your time. It's been a
728
00:46:10,760 --> 00:46:13,800
great pleasure, Pablo, having you here and I hope that we get to do this
729
00:46:13,800 --> 00:46:17,520
again next time you come because I have more questions, but I think
730
00:46:17,520 --> 00:46:21,360
it's time to get you downstairs and start the program down there. And I
731
00:46:21,360 --> 00:46:25,160
look forward to that and seeing you next time.
732
00:46:25,320 --> 00:46:27,960
Thank you very much. Thanks for coming in. Thank you. Cheers.



