When the Dutch first introduced distillation to the Charente region in the 15th century, they had no way to predict the lasting cultural significance they would impart for generations to come. Since its creation in southwestern France more than 500 years ago, cognac has gained global recognition as an embodiment of the country’s exceptional craftsmanship and time-honoured expertise.
International demand for the French spirit hit an all-time high in recent years. Rising disposable incomes has fuelled a growing thirst for luxury spirits, with cognac emerging as a coveted alternative collectible to the sky-high prices of rare whiskey.
In parallel, prices of old and exclusive bottlings have undergone a steady climb, with auctions achieving record prices for vintage cognacs considered to be superb investments.
Martell – the oldest of the great cognac houses
To match collectors’ taste for collectibles, cognac houses have turned their talents to ever more premium expressions. Martell – the oldest of the great cognac houses – recently launched its latest expression, L’Or de Jean Martell - Réserve du Château, to meet this demand. Each yearly release of 1,000 individually numbered decanters offers a collaboration with a new French château, reinforcing its status as a limited-edition bottle.
But what is it exactly about luxury cognac that makes it such a desirable investment? For starters, there are the intricacies of its production. The process to create just one eau-de-vie takes time and precision, beginning with fermentation and double distillation in copper pot stills, or ‘Charentais’, and ending only after at least two years of ageing in oak casks.
Geography, too, plays a crucial role in its exclusivity. Cognac’s production has strict regulations to protect its unique climate and soil, which fosters grapes of exceptional quality from six distinct crus.
Legacy and lineage is equally important. The value of luxury cognac lies not only in its taste, but in the craft brought to each bottle by estates that boast a long and illustrious history of cognac-making. Such estates draw upon centuries of tradition and mastery even as they seek to innovate with new expressions.
Then there is the blending itself. Only once two or more eaux-de-vie are blended can the liquid be deemed a cognac. Luxury cognacs, however, are more complex. L’Or de Jean Martell - Réserve du Château, for instance, blends more than 1,400 eaux-de-vie from four of Cognac’s crus, each of which has been hand-picked by cellar master Christophe Valtaud.
Collectability is dependent on look as well as taste. While strict conditions around cognac’s production process make the liquid itself less amenable to contemporary trends, the design of the bottle itself plays an important role in establishing its status. Such is the case with the bottle for L’Or de Jean Martell - Réserve du Château, which was crafted by Baccarat, a French manufacturer of fine crystal. Featuring a gold-embellished decanter, its minimalist design evokes a single drop of cognac.
Cognac represents France's dedication to the highest levels of craftsmanship. The intricacies of its production processes, the legacy of its prestigious estates, and the unique geographical nuances of the Cognac region has inspired connoisseurs for centuries. Now, it has secured its place as the ultimate luxury collectible, too.