Last November, Burgundy's Domaine Faiveley acquired a small parcel of the grand cru vineyard Musigny. Erwan Faiveley, president of the family firm, recently told Wine Spectator he has taken on a financial partner in that deal, Taiwanese businessman Pierre Chen.
Chen's investment equals 100 percent of the price of the land (neither party has disclosed the price). Faiveley will be responsible for the farming, management and production of the wine.
"Pierre Chen's motivation was to invest in his passion [for Burgundy]," Faiveley told Wine Spectator. "He had been seeking to buy a piece of vineyards here for many years. As far as his objectives are concerned, it is truly to collect, keep and drink his part of the production." Chen's dividend will add up to about 25 to 30 cases of the wine each vintage.
Chen, the billionaire CEO of Yageo Corporation, a producer of electronic components, is also a major art collector. "I am very excited to join a strategic partnership with Faiveley's family to acquire, farm and manage this storied Musigny with the goal to make one of the best wines in the world," he said. "I enjoy living with fine arts and sharing great wines with friends and family."