Bloomberg: The 15 Best New Bottles I Tried in 2024, From $26 to $26,000

Season’s greetings, spirits sippers! It’s Brad Japhe, the resident expert on the subject, reporting for duty. As is customary this time of year, I’m presenting my annual list of the absolute best bottles I encountered over the past 12 months. The stable of contenders was crowded in 2024: Of some 322 new expressions sampled, I counted no less than three dozen deserving of effusive praise. Sadly, some of those offerings are just so painfully pricey and/or excruciatingly allocated that I couldn’t, in good conscience, include them here.

Instead, my choices embody a wide variety of liquid across all categories and price points. Make no mistake, you will see bottles fetching four- or even five-figure sums—entries are organized in order of increasing cost—but it’s all relatively available for purchase. You won’t need an estate planner to broker acquisition.

But before we get to the big reveal, let’s recap the year’s major headlines. Beyond spotlighting the shape of the industry in 2024, these news items hint at where we’re headed in the months ahead.

For one thing, people aren’t paying as much for rare whiskey. A recent report from the financial advisory firm Noble & Co. indicated that the value of auctioned scotch cratered by 40% in 2024. But that hasn’t slowed the trend of formerly shuttered “ghost” distilleries rising from the grave across the Scottish landscape, as I reported this summer.

Tariffs proposed by the incoming administration mean your favorite tequila could effectively become 25% more expensive in the year ahead. And a separate trade war with the UK could persuade domestic scotch consumers to experiment with single malts from emerging markets such as India or New Zealand.

Or, perhaps they’ll start exploring American single malt, since the category is finally going to be recognized by the Alcohol and Tobacco Tax and Trade Bureau, after more than eight years of lobbying efforts.

But enough speculating about what’s coming. Here are my best bottles of 2024.

Alambique Serrano Rum Blend #5 — $70.Source: Vendor

Alambique Serrano Rum Blend #5

There’s more than just mezcal coming out of the highlands of Oaxaca. This artisanal brand from the steep hillsides of Santa María Tlalixtac specializes in world-class rum. In fact, you’ll be hard-pressed to find sugarcane distillate anywhere drenched in as much complexity as this 65.9%-ABV spiced-banana bomb. It’s a 50-50 blend of column spirit, aged for 27 months in ex-bourbon casks, with pot still spirit aged for 19 months in new French oak. Cut it with a splash of water to extend a tobacco and toasted almond-toned finish. Or knock it back neat, if you dare. ($70)

Hampden Great House 2024 Jamaican Rum — $130.Source: Vendor

Jamaica’s holy house of funk never disappoints when it comes to full-bodied expressions, brimming with over-ripened fruit. Although the exact recipe of this annual limited release shifts each year, it invariably involves a blend of rums that epitomize the brand’s signature style. This time around it finds form in a 57%-ABV sipper that wows with an initial wave of marmalade and cranberry relish, revealing more tropical fruit undertones as it warms in the dram. ($130)

Bloomberg: Your Next Investment Bourbon Should Be a Brandy

Illustration by Nico H. Brausch

By Christopher Ross

June 18, 2024 at 6:27 AM UTC

Bourbon collectors, I feel your pain. What was once a niche hobby for booze geeks has become a forbiddingly expensive and competitive endeavor, what with the annual Pappy Van Winkle lotteries (and heist) and secondary markets where a $2,000 bottle of 20-year Eagle Rare can leap to $14,000 in just five years.

Still, if you love the hunt for artisanal, rare spirits, have you considered pivoting from grains to grape? The warmth and woodsy flavors of single-barrel, full-strength cognac and Armagnac can closely resemble the taste of bourbon, at a more attainable price point.

“Folks who’ve had the opportunity to taste these bottles notice, wow, there’s that concentration, that similar profile of combining fruit and structure from the wood,” says Greg Faron, co-founder of new importer Bien Élevé in Washington, DC. Some vintage brandy can compare in flavor to glut-era bourbon, he says, referring to the 1970s-to-early-’90s period when distillers cleared out older, languishing whiskey stock under younger labels.

Bien Élevé joins established importers PM Spirits and Charles Neal Selections—plus upstarts such as Bhakta Spirits, from the founder of WhistlePig whiskey—as part of an expanding network of bottlers and retailers working with aficionados to build a ground floor for collecting these complex liquors.

Their biggest obstacle? The French.

See, when it comes to investment bourbon, what’s most sought-after are single-vintage bottles, ideally single-barrel, bottled at cask strength—offering a premium of intensity and purity and rarity, traceable to a specific location and point in time. But that’s exactly the opposite of how French brandy is traditionally produced.

Distillers at major cognac houses such as Hennessy and Courvoisier believe the beauty of their craft lies in artful blending; they lock up eaux-de-vie (unaged spirit distilled from grapes) from hundreds of growers to do so. There are strict brandy-making rules around grape varietals, distillation and minimum aging time in oak barrels, but blending isn’t actually a prerequisite.

“I’m French, so I can say this: The French feel they are the guardians of a tradition, which makes them not innovate whatsoever,” says PM Spirits founder Nicolas Palazzi, one of the first importers to bring unblended, collector-bait brandy to the US.

The Cognac region, Palazzi says, is particularly disincentivized to put out the kind of artisanal spirits that US buyers are clamoring for. If a producer decides to set aside a barrel for aging as a vintage cognac, a member of the Bureau National Interprofessionnel du Cognac (BNIC) must be present for its sealing. To open that cask for any reason, including if it’s leaking or damaged, they need to pay for another inspector to come out and oversee the breaking of the wax seal.

Moreover, Big Brandy doesn’t see much long-term strategy in single-barrel bottlings, as it’s only able to achieve its current sales volumes by blending spirit from different casks; the ultrapremium $4,000 Rémy Martin Louis XIII may contain as many as 1,200 eaux-de-vie, some as much as a century old. There are precious few growers in Cognac who don’t sell to the mass-market houses.

Steve Ury, a well-known former bourbon blogger, takes a cynical view of the Kentucky gold rush, so he turned his gaze toward France. He says his steadily growing Facebook group, Serious Brandy, now counts more than 3,000 members. He says American buyers have had to train smaller brandy producers to fill that desire gap between collectors and the conglomerates.

“Their first instinct was, you blend everything, you water it down to 40%—that’s what people want,” Ury says. “And we had to go and say, ‘No, that’s not what we want. We want to see those barrels. Just put ’em in a bottle. We don’t need you to do anything else.’ ”

There’s casks all over the place, all over France, sitting in garages and sheds.

Cognac houses Pasquet and Grosperrin are among producers that have gotten the memo, as well as L’Encantada Armagnac, he says, which can be “very bourbon-like. It’s dark and oaky because they don’t do as much treatment to it, they just sort of leave it in the barrel.”

Reid Bechtle, a collector in Virginia, agrees. He was so enchanted when first tasting L’Encantada’s Armagnacs in 2015 that he and fellow members of his private whiskey club—1789b, which buys whole barrels of spirits—foresaw the untapped demand and purchased three on the spot. Now, he says, L’Encantada’s fame has grown, and its small-batch, orange-wax-topped bottles command such a cult following that it’s often impossible to find at retail. “What we used to buy for $60 is now $300.”

For your own collection, this month PM Spirits is releasing a L’Encantada discovery box ($211) featuring 200‑milliliter independent bottlings of brandy distilled by three different domaines over three different decades: 1999, 2001, 2012. Dozens of years in barrel reveal beautiful tertiary aromas of dried citrus, tobacco and resin.

Cognac Frapin, a family-owned producer founded in 1270, focuses mostly on traditional aged blends, but it, too, is coming around, with help from Palazzi. A 1994 vintage released in May is a first for the maison: single-estate, single-cask, full-proof. Balancing the richness of the wood with subtle orchard fruit, vanilla and leather, it costs $265. Only 500 bottles were made.

Similarly, Bien Élevé imported a single-cask 1967 Cognac Lheraud Bons Bois ($640), perfumed with exotic spice and dried figs and elegantly rounded on the palate. “It’s become more of a focus in France, finally, for single-barrel picks,” says Faron, the Bien Élevé co-founder. Just a dozen of the 132 bottles of the Lheraud Bons Bois were allocated to the US.

I wouldn’t be surprised if major producers started earmarking exceptional casks as well, given that collectible, traditional blends have stalled. The compound annual growth rate by volume of ultrapremium-and-above French brandy was down 2% globally from 2018 to 2023, compared with ultrapremium bourbon’s 22% growth, according to IWSR, a global beverage alcohol data specialist.

“With French brandy, the extraordinary and extensive histories—over 700 years for Armagnac alone—and the tremendous ageability of these spirits, arguably far greater than most whiskeys, should mean that the possibilities for finding great spirits are near endless,” says Nima Ansari, a buyer for Astor Wines & Spirits in New York who stocks about 20 bottles of boutique brandy. Cognac can age longer than bourbon or American rye because of a cooler climate and less char on what are usually older, larger barrels.

But the ultimate factor may be the love of the hunt. As in the early days of searching for bourbon “dusties” on liquor store shelves, there’s a sense of undiscovered treasure out there, if you know where to look and strike quickly when opportunities arise.

If a vineyard hasn’t presold all its grapes to a brandy house, some farmers might have their own spirits distilled for consumption among friends and family or as an investment. “Every farm is a potential producer,” Ury says. “There’s casks all over the place, all over France, sitting in garages and sheds.”

In other words, there’s a lot of potential boutique brandy out there—and it’s all rare. Consider: If an importer comes across the private stash of an elderly couple, buys it and releases 170 bottles, it might be all that family farm ever produces.

For collectors who get a thrill from acquiring a truly one-of-a-kind spirit, it’s tough to put a price on those bragging rights. At least for now, though, a couple hundred bucks ought to do it.

Everyday Drinking: Is Armagnac The New Bourbon? Or Is It The New Mezcal?

An exercise in reading beyond the headline. Plus, my picks and tasting notes on 16 bottles for your holiday splurge.

People often ask me, “What’s the difference between Cognac and Armagnac?” (Yes, I exist in incredibly nerdy spaces). To be honest, there as many similarities as differences. They’re both brandies made from grapes, often the same grapes. They’re both made in southwest France, less than three hours drive from one another. At the top end, they’re both expensive. But there are key differences, both technical and cultural. Below, I’ve posted my Armagnac 101.

More than anything, Cognac is bigger than Armagnac. Much bigger. Cognac represents a $4 billion market global market, with 225 million bottles sold each year. Meanwhile, Armagnac sells around 5 million bottles in a year. That means you don’t have huge multinational players like Hennessy or Rémy Martin in Armagnac. Instead, it’s mostly smaller family estates. Most don’t even own stills, but rely on itinerant distillers going from house to house after harvest and fermentation. There simply isn’t as much Armagnac in the world.

That scarcity and local grassroots production is why people often make this analogy: Armagnac is to Cognac what mezcal is to tequila. In the craft spirits world—where mezcal has cool, trendy, insider buzz—that’s not a bad place for Armagnac to be.

That seems to be what some in the industry are banking on. For instance, in late 2021, the venerable brand Marquis de Montesquiou, one of Armagnac’s largest producers, was bought from Pernot Ricard by Alexander Stein, the entrepreneur who created Monkey 47 Gin—which Stein had previously sold to Pernod Ricard. “He thinks Armagnac is the new mezcal,” said Jean-Francois Bonnete, the president of BCI, which imports Marquis de Montesquiou. It will be interesting to see how the brand, which has slipped in quality, will evolve under Stein.

Meanwhile, Stein isn’t the only industry bigwig who’s invested in the region. And a some of the other players don’t see Armagnac as the new mezcal. Rather, they’re banking on it being the new bourbon.

A few years ago, Raj Bhakta, one of the founders of Whistle Pig whiskey, bought the entire stock of a traditional Armagnac house, Ryst Dupeyron. In 2021, Bhakta told me that he’d “transferred the majority of it to Vermont,” where it would be finished in Islay whisky barrels. He released the blends a barrel at a time. “Technically it is Armagnac, but I’m not calling it Armagnac,” Bhakta told me at the time. Still, all of his promotional material clearly mentions Armagnac as the spirit’s place of origin.

Bkakta is clearly trying to appeal to a certain kind of American whiskey drinker, to blow them away with a 50-year age statement on the label. “The American whiskey drinking is dying for something new. He just doesn’t know it yet,” he told me in 2021. But Bkakta made clear he has little intention of educating his bourbon bros on Armagnac when he declared: “Armagnac just doesn’t have much brand value.” I mean, that’s some serious hubris there. But I guess it’s no less arrogrant than taking something a family aged for five decades in the French countryside and sticking in a Islay whiskey barrel for a few months to, ahem, “finish” it.

I’ve written before about this whiskey-fication of Armagnac. I’m very clearly on the record as saying this is not a good thing.

Nicolas Palazzi of PM Spirits, which imports a number of top Armagnacs, summed up the current market like this:

“There’s more Armagnac being sold, but it’s a very specific kind of Armagnac sold to a specific kind of buyer. We’re talking about Armagnac that’s very extracted, heavier on the wood, more powerful, more vanilla. So it’s not very different than the whiskey that people are drinking. We’re selling a lot less classical Armagnac.”

In other words: Armagnac that tastes like bourbon. Still the big question for Armagnac in the U.S. is whether or not whiskey drinkers—tired of ridiculous bourbon prices—will embrace brandies they likely can’t pronounce.

When I think and talk about Armagnac, I am a million miles away from the whiskey market. Gascony is a rustic, agricultural place of small towns that’s famous (or infamous) for the ducks and geese raised for foie gras (more than once been I’ve been served a “salad” in Gascony that was literally all meat). I posted recently about my pilgrimage to some revered small estates. Armagnac is a fragile place, and there is legitimate worry about whether it can handle becoming the new bourbon or the new mezcal.

We love the allure of drinking from decades-old barrels that a négociant—a treasure hunter—has discovered and procured from an elderly grower, or a widow. But those barrels often represent the end of a multi-generational wine-growing family. The numbers don’t lie: In 50 years, the total vineyard area of Armagnac has shrunk from 10,000 to 2,000 hectares. “This tradition is dying,” says Lili de Montal, at Château Arton, with around 40 hectares in Haut-Armagnac. “It’s not an overstatement to say it’s a disaster.”

A few weeks ago, I went to a tasting of Château de Laubade in New York, hosted by Denis Lesgourgues, whose family has run the estate for three generations. It was a small group, mostly people from the trade, and I thought Lesgourgues’ presentation was a good model for how Armagnac might move forward into an uncharted market.

Among the samples, we tasted an experimental bottling made from the rare plant de graisse grape, as well as Laubade’s new 21-year-old expression. That age statement is itself not common. “You don’t see a lot of age statements in Armagnac,” Lesgourgues said, adding: “We’ve been thinking about whiskey drinkers. The price of 21-year-old whiskey is very high. So we feel this is a chance for whiskey drinkers to try a 21-year-old Armagnac.”

I’ve known Lesgourgues for about a decade, and back in 2021, he and I had a disagreement over a Armagnac he released that was finished in Bardstown bourbon barrels. His new 21-year-old feels like a much better approach to meet the whiskey drinker with an Armagnac that’s still got the classic profile. (I recommend it below in my bottle picks).

After the tasting, everyone in attendance split into groups and we blended our own Armagnac from the 2008 vintage from aged samples of four specific grapes: ugni blanc, baco, colombard, and plant de graisse. Besides being fun (my team of course made the best blend; I got an embossed certificate!) the exercise focused attention on the raw ingredients, the grapes and the wine. It drove home to the people in attendance just how different Armagnac is from nearly any other spirit.

The World Cup of Luxury Spirits: Best Booze of 2022

It’s a global matchup for the titles in best new whiskey, gin, rum, nonalcoholic spirit, digestif and more.

By Brad Japhe
December 16, 2022 at 7:00 AM EST

The World Cup is nearing its end—as is 2022. In service of such, we’re taking a moment to memorialize the best booze of the year. What does liquor have in common with soccer, you may ask? Not a whole lot if you’re watching it live in Qatar. But under usual circumstances, well-crafted spirit, just like the Beautiful Game, is a truly global phenomenon. And just as it’s been a particularly big year for soccer, it’s been for spirits, too, with a plethora of new releases kicking around bottle shops as of late. Over the past 12 months, I sipped my way through more than 150 expressions hailing from roughly 40 different countries. For those keeping score, that’s eight more entries than the total number of national teams qualifying for the World Cup.

For fans of high-end whiskeys, rums, vodkas, gins and more, there’s almost too much to cheer; according to the Distilled Spirits Council of the US, luxury brands increased by 23% in Q2 over that same quarter of 2021. All this is to say, the field is increasingly crowded. Upon careful deliberation and review, I’ve managed to whittle it down to one-on-one matchups for every primary category of spirit, including some zero-proof entrants. But in each draw, it’s up to you to decide which side walks away with the trophy. Let’s get the ball rolling....

Group Gin: Procera Green Dot versus Three Cuts Distiller’s Release Bold Exotic.

Best Gin of 2022

Kenya versus Australia

Procera Green Dot ginWhereas most gins on the market today are made using dried juniper, this Nairobi-based distillery relies on fresh

berries from the native Juniperus procera. Its 94-proof Green Dot ($120) incorporates all parts of the treeincluding the foliage and bark. The resulting liquid offers a pine-forward nose, typical to the category, but itwarms the mouth with earthiness and a tickle of umami on the finish. It exists as that rarest of breeds: a sippinggin. Presented in a mouth-blown decanter of recycled glass, this gin exudes uniqueness inside and out.

Group Rum: Papalin Jamaica 7 Years Old versus Andrés Brugal.

Best Rum of 2022

Jamaica versus Dominican Republic

Papalin Jamaica 7 Years Old rumThis assertive banana-bomb from esteemed independent bottler Velier marks a melodious merger of twolegendary producers from opposite ends of the Caribbean island. High-ester rum from Hampden and Worthy

Park were pot-distilled and matured in their respective distilleries and warehouses before being combined into awhole greater than the sum of its parts, at about $60 a bottle. Ripened tropical fruit is on full display, and yet athoughtful balance to the blend precludes the finish from overplaying its funk.

Group Brandy: Pierre Frapin Cuvée Rabelais versus Suyo No. 1.

Best Brandy of 2022

France versus Peru

Pierre Frapin Cuvée Rabelais cognacThe Frapin family has been crafting cognac in the Charente Valley since the 13th century. Today their estateconsists of 600 acres worth of vines in the grande Champagne cru. Eau-de-vie distilled from this region is

especially well-suited for lengthy aging, as this collectible $13,000 release convincingly demonstrates. It containsliquids that are 100 years old, and yet the XO exerts a spry vitality, pirouetting across the tongue with brightcandied orange and stewed apricot. The mahogany liquid decants gracefully from a gold-necked vessel, craftedby the oldest glass manufacturer in France, Cristallerie Saint-Louis.