Michael Saunders, a well-known name in the wine industry, has taken the reins as CEO of Coterie Holdings. With a rich history at Bibendum, Michael brings a wealth of experience and vision to Coterie. In this exclusive interview, he shares his ambitious plans for the company, the exciting acquisitions and innovations, and sheds light on the dynamic wine industry's future.

Michael, you've had an incredible journey with Bibendum and are now at the helm of Coterie Holdings. What are your plans to navigate the company through the dynamic and ever-changing wine industry?

We have ambitious plans for Coterie to become the pre-eminent premium wine distributor, initially in the UK and then hopefully further afield over time.

We have a start-up mentality whilst running a group of complementary businesses, some of which have a long and rich history. We are bringing the very best, modern infrastructure into play to help our businesses succeed at pace. For us, change is good and we want to be a leader in this.

Coterie's growth strategy since you took over looks intriguing. Can you share more about the key elements of this plan and how you see it unfolding?

Coterie is in the process of building an ecosystem of businesses that complement and feed off one another. This will continue to build and evolve. There are significant opportunities ahead and we are being selective about which ones we pursue. Our goal is to have multiple touch points in the premium wine distribution business and we will look to grow the business strategically to achieve this.

Image: Headquarter of Hallgarten & Novum Wines; Source: Hallgarten

The acquisition of Hallgarten & Novum is a significant move for Coterie Holdings. What synergies do you anticipate between Hallgarten and your existing portfolio?

Hallgarten & Novum is a brilliant business that I have long admired. A great collection of agencies, sold by a very good team and supported by market-leading customer service. It allows Coterie to cross-pollinate with all our businesses. I am delighted to say that the first six months as part of Coterie have been exceptionally strong. We are growing the business quickly and are delighted with the progress to date. We are looking less for synergies, but more for the ways our teams can work together better for the greater good.

Hallgarten has a strong foothold in premium trade distribution. How do you think this will boost Coterie's capabilities in the fine wine market, for both the on-trade and off-trade sectors?

It will boost Coterie in several ways - and we are already seeing this. We are winning some fabulous agencies, some that I have worked with in the past and some I have not. These will help our position with Lay & Wheeler as well. We can offer our suppliers access to all areas of the UK market, both directly and indirectly.

You've mentioned plans to expand into Asia. What makes this market so appealing to Coterie, and what are your first steps in establishing a presence there?

It is early days, but we are in the fortunate position of being approached by other businesses who would like to align with us. The Asian market is huge and growing in many territories - in some cases at a very early stage, which gives us the opportunity to anchor down as one of the key players. That said, there is much to be done in the UK short term, which is where we are focussing right now.

With the launch of Jera, your wine lending business, Coterie is stepping into new territory. How do you see Jera changing the financial landscape for wine holdings, particularly for high-net-worth clients?

Through Jera, we can offer an alternative route to collectors and HNWi’s needs or wants. Prior to Jera, there really was the sole option of selling stock. We have been delighted with the response and demand and how quickly that business has built up. Jera signals how Coterie wants to take a fresh approach to what has been quite a static market.

Coterie Vaults is a state-of-the-art, high-spec, and modern wine storage facility. What sets it apart from traditional wine storage solutions, and what innovations can your clients look forward to?

First and foremost, Coterie Vaults is purpose-built with scale in mind. That gives us optimal conditions and an ability to set great standards for customer service. 

Image: (L-R) Coterie Vaults and Bordeaux stalwart Château Palmer’s 2011 Alter Ego. Credit: Coterie Holdings / Cult Wines

In time, we will also be able to offer a network of Vaults in multiple territories. We already have our eyes on two new countries. That will allow our customers to keep their wines close to the market they would like them. It’s a logical step for us and one many have thought about, but not yet delivered. We will.

With the recent changes in UK alcohol duty and other regulatory challenges, how is Coterie handling these complexities? What's your approach to navigating these issues and advocating for the industry?

This is something I am deeply passionate about. I have been working hand in hand with the Wine & Spirits Trade Association (WSTA) to get the February implantation changed. It is a political nightmare for our industry – and it’s not too late to change tack with a new Government now in place. We must, as an industry, shout with one, united voice through the WSTA – who are doing terrific work and are behind this cause. As a former Chair of the WSTA, I saw first-hand how critical this is for the health and future growth of our industry.

Image: (L-R) Miles Beale, Chief Executive, Wine & Spirit Trade Association and Michael Saunders, Chief Executive Officer at Coterie Holdings.

What can we find you sipping on a Friday evening? What music would you be listening to?

Music for me is quite 1980s. But control sits firmly with my wife, who is a huge music fan. She recently spent three months in Nashville as her love of country music is so strong. So it will be anything from Nashville. On a Friday, I love a couple of glasses of something fizzy – champagne yes, but well beyond that region alone. A recent high was a lovely sparkling from Huia in Marlborough that I have had at home for a few years. Delicious!

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Conclusion:

Michael Saunders' strategic vision and innovative approach are steering Coterie Holdings toward a promising future. Through strategic acquisitions and a fresh perspective on wine lending and storage, he is transforming how the premium wine market operates. As Coterie continues to expand and innovate, it’s clear that Saunders’ leadership will leave a lasting impact on the wine world. Whether expanding into new markets or revolutionizing wine storage, Coterie Holdings is poised for significant growth and success under his guidance.

In conversation with Malvika Patel, Editor and VP, Beverage Trade Network