Martell’s L’Or selling out in China.
Pernod Ricard SA’s Martell says Chinese buyers cleaned the cognac house out of L’Or at $3,600 per bottle, suggesting some of Asia’s richest consumers are shrugging off the financial crisis. L’Or, French for “gold,” was introduced in China at the end of last year, and some of the blend’s brandies date from 1871. It has a hand-worked, gilt-trimmed crystal bottle, as well as a Chinese waiting list for several years’ upcoming vintages. – From Bloomberg