Back in 1970, everyone thought Peter Morrell was nuts when he bid on a Double Magnum of 1865 Lafite Rothschild in London for the then world record price of $520.
But was he nuts? Or foresighted? Today, that same double magnum Bordeaux is worth about $17,000.
But that crazy purchase helped put him on the map in the wine world. From there, Morrell, who became CEO and president of Morrell & Company in 1972, opened the Wine Emporium, the first major new wine store in New York in over three decades.
They also began publishing wine catalogues with their own tasting notes.
And so the Morrell name became tantamount with wine. They have since moved the wine store Manhattan’s infamous Rockefeller Center and opened an adjacent restaurant.
So if you’re in town to see the tree, stop in at the Morrell Wine Store. Especially if you need gifts. Peter says that holiday wine giving has held steady. It may have slowed over the years, but companies still need to say “thank you for your business” and send some holiday cheer, says Peter. And for those of us who have no idea what to give, they have taken some of the guess work out of selecting a nice bottle.
And can you think of a better holiday gift than a great bottle of wine and an even greater hug?
Questions for Our Wine Pro
What is your death row wine?
Tokaji Essencia Royal Tokaji 1995. I love drinking it now, but Hungarian legend also has it that Tokay Essencia is a “a restorative,” so if I am doomed to die – I’ll drink this to be brought back to life!
What region produces the best wine?
Variety is the spice of life … so it is with different types of wine and wine regions. I like to think that the best wine regions are all on the shelves of Morrell’s Wine shop.
What is the best wine and food pairing you’ve ever had?
Sauternes and foie gras.
What will the U.S. wine industry look like in 10 years?
Wine will become more and more generalized as part of a civilized life. I predict the Millennial Generation will continue to explore new wines and wine regions and enjoy drinking their discoveries – and doing it in greater numbers than their parents.
Tracy Byrnes joined FOX Business Network (FBN) in October 2007 as a reporter.