Champagne Henri Giraud Fût De Chêne MV19 | Grower Interest Intensifies Potential

"Recent tastings confirm that 2019 is the most complete and serious vintage in Champagne since 2013. The wines have texture, resonance, and complexity. The NV wines that I have tasted so far are impressive."

- Antonio Galloni, Vinous

Henri Giraud Fût de Chêne MV19 (multi vintage based on the 2019 vintage) is the latest release of the house's NV champagne. It's so new that none of our usual critics have yet to pass judgement.

Therefore, we rely, among other things, on the above statement about the 2019 vintage in Champagne, which is considered serious and complete. And then we lean on scores from previous vintages, and if we are to draw parallels to 2013, as Galloni does, Vinous gives Fût de Chêne MV13 (multi vintage based on the 2013 vintage) 97 points.

We buy directly from Henri Giraud, which is why we have been able to secure investment-grade quantities at a very attractive price.

We also base our investment recommendation on the rock-solid and traditional foundation of a Champagne house that will only become more interesting as the world increasingly demands grower Champagne, sustainable winemaking, and ecology: Enter Henri Giraud.

Henri Giraud | Impressive Know-How Passed Down Generation After Generation

For nearly 400 years, the family-run Champagne house Henri Giraud has been producing great Champagne in the sparkling wine capital of the world. Henri Giraud is a grower producer, working to get the best out of each and every parcel with a strong focus on expressing terroir. And with such a focus comes an inevitable, albeit drastically reduced yield.

Grower champagne honours some of the same virtues known from Burgundy: good wine requires healthy soils. And this approach to champagne making has succeeded in creating Champagne of an exclusive character with a sublimely high level.

Claude Giraud has carried the 12-generation legacy of the Champagne house, but now his daughter Emmanuelle has taken over the reins with a clear vision. Her goal is to preserve the house's unique expertise and lovingly pass it on to future generations. Although Henri Giraud has an impressive history as one of the oldest houses in Champagne, it's only recently that the attention of Champagne connoisseurs has really started to focus on them.

The uniqueness of Henri Giraud's Champagnes lies not only in their eminent vineyards, many of which have achieved Grand Cru status. The story behind these masterpieces actually begins in the nearby Argonne forest, where centuries-old oak trees provide wood for the house's special oak barrels, which play a crucial role in production, as Claude Giraud emphasises. The use of oak barrels in Champagne production was almost forgotten after the introduction of steel tanks in the 1960s, but Henri Giraud, Krug and Selosse are some of the few to hold on to the tradition.

Behind every great Champagne is a skilled cellar master, and at Henri Giraud, Sébastian Le Golvet is the one who holds the flag high. He believes that creating great wine requires patience and a deep understanding of the terroir. Without a close collaboration with the terroir, you can never expect to create a world-class wine - again, a dogma that brings to mind the world's finest wines from Burgundy, rather than Champagne's classic grand productions.

RareWine had the unique opportunity to visit Henri Giraud, and in the video below, Emmanuelle Giraud and her brother-in-law, Sébastian Le Golvet, share the secrets of the Henri Giraud Champagne House.

Henri Giraud Fût de Chêne MV

For generations, the Henri Giraud Champagne House has been producing fantastic Champagnes. But they have also been Champagnes reserved for a wealthy and exclusive French market. That's probably why Robert Parker two decades ago said:

"This may be the finest Champagne house virtually no one has ever heard of".

Since then, the world has heard of Henri Giraud, and especially the house's top and flagship wines Fût de Chêne and Argonne are stealing headlines with the world's wine lovers. And these are not characterised by high yields. Exactly how many bottles have been produced of the Fût de Chêne MV19 available through this investment tip, we do not know. However, according to Wine Advocate, only 30,000 bottles of Fût de Chêne MV12 were produced, and since there are no records of significantly expanded production, there is evidence to suggest that production is around this number.

MV stands for 'multi-vintage' and the first edition was released in 2012 and was based on the 2005 vintage. It was named Fût de Chêne MV05. Since then, 10 multi-vintage champagnes have been released, with MV19 being the latest addition.

Multi-vintage refers to a wine consisting of a base. The base representing the number on the release. MV19 is thus created on a base of the 2019 vintage and supplemented with the house's eternal reserve wines dating back to 1990. This also means that the MV19 is limited, and once Henri Giraud has sent the last bottle to the market, there will be no more. It's over and the world will never see MV19 again.

Outstanding Vintage With Missing Fût De Chêne Rating

"Note to self: drink more Giraud Champagne. That's all I could think as I ran through these new releases from Claude Giraud, a man whose temperament is very much reflected in impeccable Champagnes loaded with personality." - Antonio Galloni

The self-note above was made just for Henri Giraud's Multi-vintage Champagne, and it just goes to show the quality. And while Galloni is praising Henri Giraud here, Vinous hasn't rated a Fût de Chêne since MV13 (but it scored 97 points).

The same lack of judgement is evident among the other critics who frequent the channel here. Out of 11 releases, Richard Juhlin has tasted and rated four. Wine Advocate six, Vinous six, while James Suckling has tasted eight out of 11, and across the eight rated, Fût de Chêne gets 95 points from Suckling.

This means that the latest MV19 release has not yet been tasted and assessed by the above critics. But a look at the quality of the vintage can give a foretaste of what the critics' judgement may look like.

• According to Wine Advocate's vintage chart, the vintage is outstanding and is awarded 95 points out of 100.
• And according to the same vintage chart, we have to go back to the 2013 vintage in Champagne to find the same quality - and Fût de Chêne MV13 gets 96 points from Wine Advocate.
• Incidentally, the above is consistent with Galloni's statement at the top of the article here. The 2019 and 2013 vintages are also compared here, and MV13 gets 97 Vinous points.
• Even if MV19 does not live up to the vintage's reputation, Fût de Chêne receives an overall average score of 95 points from Wine Advocate, Vinous and James Suckling across vintages.

Spotlight: Grower, ecology, and environmental responsibility

According to Forbes, the shift to organic and conscious winemaking has been gaining momentum over the past 20 years and has exploded in the last few years. They note that there is a clear market demand for more environmentally responsible wines.

Forbes also points out that there is a growing demand for small grower producers, which aligns with Liv-ex's prediction that the demand for grower Champagne will accelerate.

Henri Giraud is a grower producer with a strong focus on sustainable initiatives. They are certified under HVE (Haute Valeur Envitonnementale) and Viticulture Durable en Champagne, which emphasises their focus on terroir protection, biodiversity, wastewater management, by-products, waste and carbon footprint.

Henri Giraud is not yet organically certified, although they do work according to organic guidelines.

And while your environmental efforts can't sell wine on their own, according to the trends above, they are a crucial parameter for demand.

"Giraud makes some of the most unique, individualistic wines in Champagne."- Robert Parker

And whether it is certifications and grower status that have also increased the demand for Henri Giraud in recent years, we do not know. But the fact is that Henri Giraud made significant progress towards a place on the famous Liv-ex power 100 list with an increase of 159 places from 2021 to 2023. According to Liv-ex, Henri Giraud also saw an increase in the number of wines traded from 269th place in 2022 to 188th place in 2023 - and has thus been in the running for a place on the list. 

A list that in 2023 included Champagne brands such as Louis Roederer, Bollinger, Krug, Selosse and Taittinger. A list whose eligibility depends on a given wine brand's price development, average price, value, and volume traded on Liv-ex over a 12-year period. To put into perspective how fierce the competition for places on the list really is, the mighty Salon did not make it onto the latest edition of the list.

RareWine Invest's opinion

Investing in Fût de Chêne is an investment in an acclaimed Champagne house, in an extraordinary Champagne story, an investment in the grower Champagne movement, and a demand for organic and eco-conscious Champagne that only seems to be getting bigger and bigger. And it is an investment in a Champagne that only exists in a very limited edition.

On the one hand, the fact that Henri Giraud Fût de Chêne MV19 has yet to be scored is less relevant, based on the nature of the house's previous releases and the characteristics of the base vintage - the baseline is expected to be solidly set. Conversely, an extraordinarily high score from one of the critics could provide additional gain. Either way, the praise for Henri Giraud from Suckling, Vinous and Wine Advocate is queuing up.

And of course, it is a great advantage that we buy directly from Henri Giraud, which helps to optimise your investment price and thus your investment.

Henri Giraud is in demand and the price continues to appeal to a wide audience, resulting in high consumption. If we take the long view, this is a wine Champagne lovers will love to get their hands on in two, five and 10 years.