Conde Nast-Lombard Odier "Imagine" Magazine

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I M AG I N E

Ta i t t i n g e r

A family affair Taittinger is one of the great champagne houses of France, with a rich and long history. It was owned by the Taittinger family until 2005, when it was sold to an American investment fund. Then, in a spectacular coup, the family bought it back in 2006. Vitalie Taittinger, Director of Marketing and the founder’s great-granddaughter, tells the story to Katia Hadidian. Photography by Ivan Terestchenko

Vitalie Taittinger at the Château de la Marquetterie

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the Champagne region, the company flourished, and when Claude took over after François’ death, Taittinger expanded to become a champagne of world-renown. By the 21st century, there were 38 family members working in Groupe Taittinger and its affiliate, Société du Louvre, which owned Europe’s second-largest budget hotel chain as well as 14 prestigious properties, including the Hôtel de Crillon in Paris, the Martinez in Cannes, and Hôtel de la Paix in Geneva; the perfume label Annick Goutal; and crystal manufacturer Baccarat. In 2005, Taittinger Group was sold for $3.2 billion to the American fund Starwood Capital, which started to break up and sell parts of the company, including the champagne house. The family sprung to action to buy back the brand. Family matriarch Anne-Claire Taittinger, who had originally sold the company as Groupe Taittinger’s former managing director, made one bid, and her brother, Pierre-Emmanuel Taittinger, made another – and won. When I ask Vitalie Taittinger, Pierre-Emmanuel’s daughter and Taittinger’s Marketing Director, to recount this extraordinary story, which has all the suspense, plot twists and layered narrative of a best-selling novel, she says, “The sale and re-purchase of Taittinger is actually a very nice story, and a very moving one. Anne-Claire Taittinger really is a skilled businesswoman, but for one moment maybe she preferred to protect business interests rather than protect the family aspect, which one can understand. My father was always against selling the group. He had worked for Champagne Taittinger for 30 years, and for him family history was more important, because he was proud to represent the work of this family, which has had many great personalities.” Indeed, they fill many pages of the French Who’s Who. Vitalie explains, “My great-grandfather, Pierre-Charles Taittinger, was Mayor of Paris, and my father’s father, Jean Taittinger, was Secretary of State for Finance, Minister of Justice and Minister of State under Georges Pompidou. For my father, it was important not to break with everything they had done, but to continue.” It’s a business cliché that family-run businesses are naturally risk-averse, but this is not true, says Luis Gomez-Mejia,

The dynamics and decision-making of family businesses are so multi-layered, complex and – to many outsiders – perplexing, that they have become a specialist subject at business schools, analysed by the world’s leading economic thinkers. According to research from the KSU Coles College of Business in Georgia, about 80% of the world’s businesses are family owned, accounting for nearly 35% of the largest companies in the United States and 40% of the 250 largest companies in France, so it’s certainly a subject worthy of serious investigation. Interestingly, despite the fact they are better at long-term planning, internal organisation and deep commitment, only 13% of these companies are passed on to the third generation. This was nearly the fate of the Taittinger Group, until that famously contrarian family-business gene resurfaced and surprised the international financial community once again. Taittinger is now one of the last great champagne houses to be owned and run by the name on the label. The family’s champagne connection dates back to 1912, when Pierre-Charles Taittinger, who came from a family of wine merchants, started a champagne distribution and export business. Then, as a cavalry officer in the First World War, he suffered a heart attack and was billeted at the 18th-century Château de la Marquetterie near Epernay in the ChampagneArdenne region. The vineyards of la Marquetterie have a long pedigree, and were once managed by the 17th-century Friar Oudart, one of the founding fathers of champagne. In 1734, the Fourneaux family – who advised the original Veuve Clicquot – established a family business there that would later become Taittinger. Legend has it that Pierre-Charles became so enamoured by the beautiful architecture and vineyards during his recuperation, that he vowed to return – which he did, buying the Château in 1932. He passed the business on to his three sons, François, Jean and Claude, who oversaw a period of remarkable growth. It was François who made the decision to establish Taittinger cellars in the 13th-century Abbey of Saint-Niçaise in Reims, which was built over 4th-century Gallo-Roman chalk pits, 20 metres below ground and miles long. Now having a foot in two of the most prestigious towns in

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