The narrator Galvão Bueno and the singer Sting have something very specific in common. And no, it's not fortune, although that could be similar too. It turns out that the two decided to invest their fortunes in Portuguese and Italian wineries.
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Galvão Bueno has a winery in Candiota, in Rio Grande do Sul, where he has already produced his first Bueno Paralelo 31 vintage. Sting already owns a winery in Florence, Tuscany, called Il Palagio. His most successful wine is named after one of his songs: Sister Moon 2011. And this is no coincidence.
Other celebrities also bet on the wine industry, such as Madonna, Bon Jovi, Jay-Z and Post Malone.
Bon Jovi teamed up with his son to invest in a rosé Hampton Water. Madonna runs a vineyard in Michigan.
Wine industry demands investments
According to journalist Tony Smith, who also owns a winery, the whole wine business has its 'glamour', for that celebrities like to invest in this business, but it also takes hard work and a lot of investment. “It's not just buying, it's maintaining it [the winery] as well,” he says.
Smith owns Quinta de Covela — which has been in existence for 200 years — in the Vinho Verde region. He shares ownership with the founder of the investment group Artesia, Marcelo Faria de Lima. Quinta de Covela also once belonged to filmmaker Manoel de Oliveira and businessman Nuno de Araújo, who ran the company for 20 years, but went bankrupt in 2000. So the two partners bought it and had to start almost from scratch.
“We had to replant a lot of things. From the day you plant a vineyard to the day you actually get a decent return, that's four years… Imagine doing that on hundreds of hectares,” he said.
Over time, the two invested in other properties, such as Quinta da Boa Vista, which has 39 hectares and very prestigious wines in Brazil, with prices from R$ 120 to R$ 1,200.
According to the Brazilian Union of Vitiviniculture, Brazil produced 27 million liters of wine in 2021, just behind sparkling wine, which had 30.3 million liters produced. This represents an increase of 11.43% compared to 2020, and this year is expected to see an even greater increase.
In Portugal, Brazilian billionaire Rubens Menin says he wants to produce 360,000 liters of wine in 2025 at his winery, Menin Douro Estates, of which 88,000 liters are port wine. The businessman has already invested at least 30 million euros in the region, and says that “the product is more or less unique in the world, which combines high quality and good price”.
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