UK-based Premier Cru Fine Wine Investments has appointed Sir Eric Peacock as a non-executive chairman - a move which the firm regards as a "key milestone" in its history. 

 

Sir Eric will work alongside company co-founders Paula Golding, managing director, and Stacey-Lea Golding, investments director. 

 

“Investing in wine is an attractive alternative investment vehicle and one that offers a great deal of emotional and financial pleasure,” said Sir Eric.

 

“I believe the fine wine investment market will be a very interesting pitch to play on over the next five to ten years and being at the forefront of the industry, with one of the biggest and most respected players, is a very exciting challenge,” he said.  

 

Sir Eric is a non-executive director of UK Trade & Investment and the chairman of UK-listed Baydonhill Fx, as well as various other companies such as costume manufacturer Buckley Jewellery, Halo Furniture and Stage Technologies. He was also chairman of UK business innovation investor What If from 2001 to 2006, executive chairman of Rotary Watches and the founder and chief executive of children’s clothing brand Babygro.

 

The rise of Asia as a region of wealthy consumers is helping to drive this market for fine wine, along with other luxury goods and services. For example,consumption of wine and champagne in Singapore, with the highest percentage of millionaires in the world, is soaring. Regular wine consumption quadrupled from 5 per cent in 1997 to 21 per cent in 2011. Champagne consumption also more than doubled from 3 per cent in 1997 to 7 per cent.