Fayat, an ambitious wine-producer, plans « to succeed in the wine business as well»
Maxine Wine News par Maxine Colas le juillet J 2010 à 15:32
Yannick Evenou, vineyard manager, and Clément Fayat, in the chais of Château Clément-Pichon. Photo Thierry David SO
Prosperous Group.
From humble origins in the Corréze region, Clément Fayat, 78 years old, is one of the most powerful men in South-West France. His civil engineering group made an impressive turnover of 2.5 billion euros in 2009 and employs 16,000 people. In October he recruited Yannick Evenou to take care of his wine estates. Evenou is an experienced oenologist, with ten years of work experience with both Jean-Michel Cazes and the CVBG merchant company.
Interview with Sud Ouest.
“Sud Ouest”: Your BTP Group makes you a civil engineering businessman, so how did you come to be a vineyard owner ?
Clément Fayat : There was no particular strategy. I just seized the opportunities as they appeared. My trade is civil engineering and not wine. It all began with Château La Dominique in Saint-Émilion. When I bought it, nobody even mentioned classification…times were different. They just told me that it was a good deal. And yet between 1969, the date I purchased it, and 1976, I didn’t sell a single drop of wine. My next acquisition was here, at Clément-Pichon, which I bought in 1976. There were no more vines. I fell in love with the building, but was also considering the land’s potential to build houses on. Pomerol was also an investment opportunity.
“S.O” : So many active vineyards which you made very little of.
C.F : Yes, I was negligent. But once again, wine-making is not my trade. In addition, I have not always been very well advised. And yet expert advice is essential for a non professional in this field. Incidently, I missed out on buying Cheval Blanc when it was up for sale in the 1990’s, priced at 750 million francs. Same story for Château Margaux, sold by Bernard Ginestet in 1977 for 77 million. A banker even wanted to loan me the sum, but a friend from my native Corrèze, living in the Libourne region, advised me that it just was not worth it …so instead I opted to acquire a civil engineering company in the Gers region!
Since then I prefer to make my own decisions, based on my gut feeling. I regret those missed opportunities: I’m not in the habit of letting such opportunities pass me by.
“S.O.” : Why do you now want to re-launch your vineyards?
C.F. : Over the decades everything I have achieved in my civil engineering grouphas, for the most part, been a success. I would like to do the same thing with my vineyards. In this way, one day they will say I succeeded even though I wasn’t a wine professional. My businesses always have a lot of potential for improvement. I now aim to give free reign to my ambitions. What’s more, Yannick Evenou, my new estates manager, advises me on necessary and potential improvements within the framework of a real overall strategy.
“S.O.” : So what are your ambitions and strategy for this side of the business?
In Saint-Émilion, 15 years ago, La Dominique was the same price as a Troplong Mondot. Compare their prices today! We have fallen behind. The major wines are now promoting a luxury goods image. We are going to do what is necessary, although I am rather in the habit of investing in research or working processes at our factories. I will be the driving force behind the remodelling, my main objective being profitability : I simply cannot accept that any of my companies are loss-making. I would add that I have become very enthusiastic about wine and derive great pleasure from drinking it every day. I am also motivated because my two sons share my passion. If the opportunities to acquire any great names in wine should present themselves tomorrow, I will certainly be looking into it.
Author:Cesar.Compadre
photo So :DR