Adrian Bridge, opened Porto’s Cultural District, WOW, in 2020

Starting his career in the British Cavalry Regiment, Adrian Bridge moved to Portugal in 1994 and is now CEO of The Fladgate Partnership, which produces Taylor, Fonseca, Fonseca-Guimaraens, and Croft Ports. Here, Bridge speaks to LUX’s Leaders and Philanthropists Editor, Samantha Welsh about being a driving force behind wine tourism in Porto and developing the city’s new Cultural District WOW

Adrian Bridge

LUX: What do you think your training at Sandhurst taught you?
Adrian Bridge: The military teaches a great deal about leadership and confidence. You also learn to make decisions based on the available information, no matter how imperfect. However, in planning action it is in the details where success lies. That requires breaking down a problem to its parts and thinking through all of the details. I believe that all business is about the detail and that is where success lies.

LUX: How would you say this has influenced your dynamic style of leadership?
AB: The moto of Sandhurst is ‘Serve to Lead’ and I strongly believe in leading from the front. This creates a company culture where everything should be possible. I do not ask people to do things that I would not do myself. I think that this allows us to push forward, to take risks, to do things that others might not attempt.

Angel’s Share is the name given for evaporation process that takes place when wine is ageing in barrels. It is also the name of the WOW wine bar

LUX: Why is the house so good at innovating?
AB: To me, innovation is all about pushing boundaries. To remain at the top, you simply can’t sit still. You have to continuously question, push and evolve or someone will overtake you.

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Established in 1692, we are one of the oldest companies in the world simply because we don’t sit still. We are continuously expanding and innovating to appeal to both new and existing audiences. We have a reputation for quality and excellence that has been built up over time and continues to be sustained through the generations.

One of our best examples of innovation has to be the creation of Croft Pink; the first ever Rosé Port. We launched this product in 2008 with the goal to introduce Port wine to a younger generation. In 2011 we continued to expand this concept and launched a canned “ready to drink”- Rosé tonic.

The Fladgate Partnership produces Taylor, Fonseca, Fonseca-Guimaraens, and Croft Ports

LUX: Oporto is already a UNESCO World Heritage City, so what was your vision for WOW?
AB: Porto is a beautiful city full of history, charm and culture – all of great significance to Portugal’s identity. The vision of WOW was to bring a totally new set of cultural concepts to Porto and in this way offer quality content to the region.

We wanted this to be a game-changing space for both locals and travellers that really celebrates the culture, gastronomy, history and industries of Portugal. WOW is as educational as it is fun. To achieve this, we needed to make sure this was a dynamic district that featured regular exhibitions, unique events and seasonal experiences.

The District is over 55,000sqm and includes 8 museums and experiences and 11 restaurants and bars

LUX: What does an immersive experience offer that can complement the traditional vineyard visit?
AB: One of the reasons WOW originally came to be was in response to the booming number of visitors coming to Porto – demand that we helped to create by building The Yeatman – and the lack of experiences that Porto had to offer. To appeal to this market, we continuously try to ensure that there is something new for people to do and see in the district. Technology really allows us to engage with guests in a more interesting and meaningful way.

After the traditional vineyard visit, I would definitely suggest spending a day at WOW. It’s a good idea to choose one or two museums, do a workshop at The Wine School or at The Chocolate Story – the chocolate museum, enjoy a typical dish in one of our restaurants, appreciate the sunset in our Angel’s Share bar while drinking a Port Tonic and stay to be amused by the video mapping in our main square.

The Chocolate Story Museum

LUX: What is a sustainable vineyard model and how are you working to secure the future of viticulture?
AB: We are committed to protecting the environment and the future of our vineyards and the Douro Valley where our family has produced Port wine for centuries.

Our sustainable model incorporates a number of techniques and strategies which work together to create a balanced, diversified and sustainable vineyard environment. The basis of the model is the construction of narrow terraces each of which supports only one row of vines.

The view from Angel Share’s Wine Bar

This model was awarded the prestigious BES Biodiversity Prize in 2009, which recognises achievement in the fields of conservation and environmental sustainability.

In order to encourage industry change on a global level we established the Porto Protocol – the wine industry’s climate action network. Since our first summit in 2018, we have brought together more than 230 wine and wine adjacent companies from 22 countries to share solutions to combat climate change in the wine industry.

LUX: This year you have opened a new museum with a ground-breaking exhibition from TATE at the Atkinson Museum, what was the strategy behind that?
AB: The vision of WOW is to bring a totally new set of cultural concepts to Porto. The new exhibitions, especially the Atkinson Museum, reinforce this destination as a “must visit” hub for international travellers.

At the centre of WOW is the Atkinson Museum. Originally built in 1760, we have meticulously restored and modernised the space to meet international museum standards and attract exhibitions from the international art pool.

Adrian Bridge has a private collection of 2,000 vessels and glasses which tell the story of  the evolution of drinking vessels from earliest civilisations to the present day with some of the collection dates back to 7,000BC

Our most recent exhibition, The Dynamic Eye was produced by the TATE Collection and featured over 100 works from 63 artists – this was the largest number of works travelling from TATE to Portugal. This is an amazing example of the quality of major exhibitions we are bringing to Gaia.

The idea is to bring new and different major international exhibitions, such as The Dynamic Eye, every year.

Read more: Italy Art Focus: Patrizia Sandretto Re Rebaudengo

LUX: How can cultural philanthropy shine a light on the house values?
AB: As a family business, we are built on a set of strong shared values. We are continuously seeking opportunities that align with our core values. At the moment, one of my key priorities is sustainability in the wine industry and coming up with new ways to create new industry practices.

Porto Region Across the Ages Museum

LUX: What would you like to be remembered for?
AB: When I came to live in Porto in 1994, I came to into a Port Wine Trade that was very traditional. Our company helped to consolidate that industry and lead it forward, not least with the innovation of various new styles of Porto. This was an achievement and in doing this I hope that I will be remembered for helping to enhance one of the greatest wines and wine regions in the world. This also includes putting Porto on the map as a destination and through that work we have helped to stimulate the development of the town and create jobs and wealth. However, I will probably just be remembered for altering the city centre through the construction of The Yeatman and WOW.

Find out more: fladgatepartnership.com

A portrait of the multitalented Lily Cole

The model and campaigner talks to Ella Johnson about environmental action, NFTs and how fashion can never be truly sustainable

1. What was your first piece of eco-activism?

Without it being intentionally connected to environmentalism, I guess it was campaigning against fur and turning vegetarian as a kid.

2. Why are you an “accidental entrepreneur”?

I’ve never resonated with the idea of business or entrepreneurship. I just have ideas and business has been a good vehicle for executing them, so it’s “accidental”. Perhaps “incidental entrepreneur” is a better way of saying it, as it’s an incidental by-product of following ideas.

3. What is the aim of your 2020 book and ongoing podcast, Who Cares Wins?

To draw attention to climate solutions and to foster a culture of diversity, dialogue and collaboration.

4. Who would be your ultimate guest for the podcast?

Thich Nhat Hanh. Aware it is too late for that.

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5. Why should we take an intersectional approach to environmentalism?

Because all our issues are interconnected and interwoven, both social and environmental. And because the key to embracing biodiversity involves embracing diversity on all levels, such as cultural diversity and diversity of thought.

6. The Queen asks you what to do. What do you tell her?

I ask her to listen to, support and champion indigenous voices. 

7. What was your greatest revelation while researching your book?

That we could halt global warming, draw down more than 15 years of carbon emissions, enhance global biodiversity and essentially stop the sixth mass extinction through a very simple, and technically possible, action: stopping most animal farming.

Cole, aged around 10, with an early activist fashion statement

8. Can we really stop global heating?

As above, and through many other solutions I look at in Who Cares Wins. Although it might not be possible to stop global heating in the short-to-medium term, we can potentially stop it in the longer term. And we can lessen the extent at which it accelerates, so it’s not too late to do something.

 9. Fashion can never be sustainable. True or false? 

If Adam and Eve swapping out fig leaves for, say, maple-tree leaves, was fashion, then yes, it can be. If most fashion remains made up of petrochemicals – 70 per cent of new fabrics are composed from plastic – and using non-circular business models, then no, probably not.

10. Why did you move to Portugal?

My daughter’s father is Portuguese and it felt like a good move to be closer to his family during the pandemic. Then I fell in love with the country: good nature, weather and people.

11. Have you ever bought an NFT?

Interesting question. I nearly did, as one was originally attached to a tapestry artwork I bought by Éva Ostrowska.

12. What’s your favourite building?

Sant’Ivo in Rome. The floor plan has a weird shape, like a bee. When Borromini drew the plans, he had to put the centre of the compass outside the ecclesiastical space to make it, which some interpret as a nod to the new idea that Earth was not the centre of the universe.

13. Tate Modern or Pompidou?

Tate Modern.

14. Is success about talent or effort?

It takes both, I’d think.

15. Which fictional character would you most want to have dinner with, why, and where?

Ada, from the novel by Nabokov. To pick her brain and play her games. On a sun-kissed beach.

Read more: An Interview with KAWS

16. What next, creatively?

Writing, writing, writing more.

Season 2 of Lily Cole’s Who Cares Wins podcast is available to stream now: lilycole.com/podcast

The InterContinental’s pool area

Cascais, on the Atlantic coast of Portugal, has a fabulous summer climate, culture, history, cuisine, convenience – and a bijou hotel to enjoy it all from, as LUX discovers

“You have to go to Cascais – it’s the light, and the atmosphere but really the light” says Tony, the legendary manager of the staff cafe at Vogue House, Condé Nast‘s London headquarters, and as Portuguese as salt cod.

Tony and I have had this conversation numerous times over the years. When I got my own office and PA, meaning I didn’t visit his Hatch canteen any more, we would talk on the stairs or before I hosted a client in the Vogue House boardroom, as he organised snacks.

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I was intrigued not only because Tony was a local, but because he was particularly passionate about a place that is not really on the international radar. People speak of the coast south of Lisbon, or up towards Porto, but Cascais (pronounced Cash-kise), on a map, looked intriguing. It’s only 20km or so from the Portuguese capital, but past the mouth of the Tagus river and on a stretch of coast that angles sharply around into the Atlantic. It is a historic resort town and only a few kilometres from Sintra, the hilltop town that is a destination for tourists from all over the world.

A deluxe room

Cascais being a weekend resort for the well-to-do of Lisbon, is not teeming with luxury hotels, with the exception of one: the InterContinental. This is a chain that may be more familiar to business travellers, but, as I walked into its lobby, it was plain to see that this property is aimed at a whole different world.

“The light,” I said to nobody in particular, inadvertently echoing Tony’s words. The floor- to-ceiling windows on the other side of the lobby opened out into a world of light: the green of the grass around the pool, a couple of floors below, a deep blue sea, a light blue sky that, it would transpire, turned into a kaleidoscope as the sun made its way from above the coast of southern Portugal, in the distance ahead, to set over the Atlantic, to the right. There must be some psychology involved here, on the western edge of Europe, but the light was different from the Mediterranean – less hard, more watery, somehow. Maybe it was the waves: rolling, louder, more insistent than those on the quasi-landlocked Med.

Furnas do Guincho

Maybe it was all auto-suggestion but there was nothing illusory about the pool. It sits on an island of grass and trees, above the main pedestrian promenade linking Cascais with the old resort town of Estoril. To the right was a cute little bar area – a bar, a few tables, a lawn, some flowers and trees – where we retreated on arrival, and found ourselves greeted by vast gin and tonics in stemmed bowl glasses, flavoured with a local herb that tasted halfway between basil and mint. It felt like drinking the view.

The rooms were the next surprise, and in the best possible way. There is no generic corporate style here: instead, large, high- ceilinged, contemporary-touch bedrooms with floor-to-ceiling windows onto big balconies. The blue fabric wall behind the bed matched the sea; elsewhere the room was light greys, taupes, bronzes and swathes of blue. The effect was utterly relaxing: we enjoyed the balance of comfort (top quality beds, excellent functionality) with design flair, individuality and the sense of being in a particular place. And with the balconies looking out over the pool, promenade and sea, it was very peaceful. There was, we noticed on the second day, a little local train line beneath the pool area and by the promenade: it gave a sense of character, rather than detracting from the experience.

The hotel’s fried Mozambique. prawns à ǵuilho

You could lie by the pool all day, loungers on grass, and sip basil-mint gin and tonics. One observation we made, when visiting in mid-summer, while the sky was clear and blue with uninterrupted sun every day: it was notably less scorching than on any Mediterranean coast. Daytime temperatures were about 28C (82F), maybe 10ºC cooler than the average temperature in August in Turkey, Greece or Sardinia.

This means you have more energy, and no need to retreat inside for air-conditioning (itself
part of the vicious circle of global warming), which meant we descended the private staircase to the promenade and walked to Cascais’s old town, a kilometre or so along the seafront, every day. It’s a bijou place, with small café and restaurant terraces, a little beach, and a warren of backstreets housing craft shops and speciality dining, from sushi to local seafood.

Cascais old town

Beyond the town centre, a taxi ride away, is the most spectacular restaurant in Portugal, Furnas do Guincho. Its huge terrace seems to hover over the rocks at the point where the coast turns northwards and the Atlantic hurls its full force at Europe – not a place to swim in the sea, but a memorable place to sample a mixed-grilled shellfish platter or specialities (all caught the same day), such as red snapper or grouper.

The restaurant at the InterContinental was less dramatic, but even more pleasing to sit in, for the sense of serenity. On a higher floor than our room, the small private terrace looked out to a sweeping view from the outskirts of Lisbon, along the coast, to the left, to the ocean beyond Cascais’s colourful roofs, to the right. The décor consisted of light-yet-opulent blues, greens and bronzes – everything open to the light. Equally refreshing was the food: grilled, locally caught sea bream with a hint of lemon and thyme.

Read more: Luxury Travel Views: Mandarin Oriental Ritz, Madrid

Step outside the lobby, at the front of the hotel, and you’re on a busy main road, which you wouldn’t think existed from the other side (that’s clever architecture for you). It was convenient, though, for trips to the hilltop palace-collection at Sintra, and to the Lisbon Oceanarium, Europe’s largest indoor aquarium. And for getting to the hotel in the first place: the InterContinental is a 30-minute taxi ride from Lisbon’s international airport. It’s rare to find a luxury resort-hotel in Southern Europe so close to a major transport hub, meaning it beckons as a weekend break as well as a summer holiday destination. I had better let Tony know: he was right.

Written by Darius Sanai

Find out more: estorilintercontinental.com

José Soares dos Santos outside the Lisbon Oceanarium

Through his Oceano Azul Foundation and game-changing Oceanário de Lisboa, Portuguese business leader and activist José Soares dos Santos is one of the foremost forces in Europe driving ocean conservation. LUX meets him to find out how he inspires politicians and his fellow philanthropists, business leaders and scientists to create a more sustainable future. By Andrew Saunders

DEUTSCHE BANK WEALTH MANAGEMENT x LUX

We have a responsibility to look after the oceans better, because the oceans look after us. That, in a nutshell, is the reason marine biologist and lifelong ocean-conservation activist José Soares dos Santos established the Oceano Azul Foundation in Lisbon, aiming to look at sustainability “from the ocean’s point of view”, as the foundation’s motto has it.

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Whether it is the huge volumes of plastic that threaten marine life of all kinds, unsustainable fishing or the dangers of climate change-related ocean warming and acidification, dos Santos believes the marine environment is under pressure like never before. However, the crisis does not get the international attention and action that it deserves; it is time for businesses, investors, society and science to get together and spread the word.

“The fact is that the planet is a system, and if we don’t take care of the system there will be no businesses, no families and no proper life as we know it,” he says. “This is a responsibility we have and we had better do something about it.”

The central aquarium at Lisbon Oceanarium. Image by Pedro Pina

As executive director of one of Portugal’s largest and most successful business groups – whose Jerónimo Martins food distribution and retail business, chaired by his brother Pedro Soares dos Santos, had approximately €19bn in sales in 2019, with 115,000 employees and more than 4,400 stores – he used his commercial nous and network plus his marine biology training to bring together a group of experts, academics and businesses in 2014 to set up the Oceano Azul Foundation.

Read more: OceanX founders Ray & Mark Dalio on ocean awareness

“Together with my brother, we are at the head of our family group. We are the fourth generation of a very hard-working family,” dos Santos explains.“We have capital to deploy and we can call in interesting people with very good information. We have the means, and we also believe that we have the obligation to act.”

Why focus on the ocean? Portugal does of course have a long and illustrious maritime heritage, but dos Santos is motivated by his concern that the public lacks an awareness of the vital role that oceans play in sustaining life on earth. Even though the oceans cover 70 per cent of the world’s surface, the threats they are facing are poorly understood outside the scientific community. “We are talking about the oceans because there is a lot of curiosity about them. People often ask me questions about the oceans, but I am extremely surprised how little people know about them.”

King Philippe of Belgium and Queen Mathilde at the Oceanarium during their official visit to Portugal, 2018. Image by João Maria Catarino

Dos Santos points out that the oceans are not only home to 15 per cent of all known living species, but also produce over half of all the world’s oxygen, and, in the long term, has the capacity to absorb 50 times more carbon dioxide than the atmosphere. They also act as a massive heat sink to slow down the impact of global warming. They are an important source of food, resources and jobs – the OECD estimates that the blue economy could be worth $3 trillion by 2030, double its 2010 value. Human beings may live on land, but we are highly dependent on healthy, productive and sustainable oceans to enable us to do so.

Hence the foundation’s successful initiative, RISE UP – A Blue Call to Action. This is a joint initiative involving everyone from local fishing communities, foundations, indigenous people’s organisations and conservation groups, such as Ocean Unite and Environmental Defense Fund. Its campaign agenda was launched in May 2019 and presented to UN Secretary General António Guterres in February this year.

José Soares dos Santos announcing the donation of nautical equipment to the Portuguese National School Sports network by the Oceano Azul Foundation, 2019

Dos Santos was determined that the Oceano Azul Foundation would not be just another politically motivated pressure group pursuing its own narrow agenda, but instead a collaborative platform uniting marine conservationists, science, academia, business and society, as the collaborative and partnership-based RISE UP campaign, with over 400 organisations signed on in support. “We must keep science inside the foundation,” he says, “because we are not politicians and we cannot drift into politics. If we do that, we will be exactly the same as many other foundations and pressure groups. The world needs something different, not just another one of those.”

In particular, his view on the primacy of business and private investment in building a strong and self-sufficient culture of ocean stewardship marks out the Oceano Azul approach to sustainability as something out of the ordinary. “Our philosophy is not to donate money but to invest it. We believe that it is very important to take care of the planet but that we shouldn’t just give all that responsibility to the government.” He continues, “I find it very hypocritical when people say it is up to the government to change things. No! We elect the government, and we should say what we want.”

Read more: Nadezda Foundation’s Nadya Abela on running a children’s charity

Oceano Azul has also teamed up with the Calouste Gulbenkian Foundation to develop the Blue Bio Value business programme, an accelerator scheme to help new and sustainable blue-economy business ideas to grow faster and more effectively. A vibrant blue economy provides jobs and generates returns that can in turn be used to protect the ocean environment. “We believe in investing to create jobs, create value and to create social value,” he points out.

The programme, now in its third year, helps innovative marine biology-based businesses to scale up. Applicants undergo a rigorous due-diligence process that can lead to a prize corresponding to €45,000 awarded to the best start-up or start-ups, as well as access to coaching and mentoring services and valuable business networking opportunities. So far, 28 businesses from 15 countries have benefitted from the programme, ranging from Biosolvit, a specialist in offshore clean-up materials made from discarded biomass, to sustainable aquaculture engineering start-up SEAentia.

The Lisbon Oceanarium studies vulnerable and endangered ocean-dwelling species, including birds such as this Atlantic puffin. Image by Pedro Pina

At the heart of dos Santos’s mission to provide better information and education about the role of the ocean in maintaining a healthy planet lies the Oceanário de Lisboa. The newly refurbished facility is the largest indoor oceanarium in Europe and one of the city’s major attractions. Home to large collections of marine life, it had 1.4 million visitors in 2019.

“The Oceanário de Lisboa is at the heart of what we do,” he explains. “People go there and the effect on them is fantastic. They can see that below the surface of the water, the ocean is a place full of life that we have a responsibility to protect.”

Read more: British artist Petroc Sesti on his nature-inspired artworks

When he is not chairing the Oceano Azul Foundation, dos Santos is heavily involved in the family business. It’s no surprise that he is a staunch advocate of the ability of business owners to move the dial on ocean sustainability. “Business owners can change this,” he says. “I am a great believer in owners because they have a longer term perspective than financial markets.” He is at pains to point out that while he fully appreciates the importance of the financial markets, he is also aware that the long-term view required for sustainability can be at odds with short-term market expectations of publicly owned companies. “You need courage to do this; it’s not always good for your short-term share price,” he says.

José Soares dos Santos with the UN Secretary-General António Guterres at the opening of an exhibition at the Oceanarium, 2020. Image by Pedro Pina

As an example, he cites his family’s decision to remove all plastic from its businesses’ supply chains. “This is a huge transformation. It will cost a lot and take many years.” A publicly owned firm would struggle not only with the complexities of executing such a decision, but also with shareholders and hedge funds that prioritise short-term profitability. Consequently, such businesses may want to do the right thing, but be unable to follow through, he says.

By contrast, successful privately held family businesses are often built on long-term investment strategies. They appreciate the win-win of sustainable investing, but in turn often lack good quality information about what to invest in. This, too, is where the Oceano Azul Foundation has a role to play. “When we talk to owners, we can see they are worried. But they often do not know what to do. This is the bridge we have to cross – I can go out there and explain the issue, but I also have to provide the instruments.”

Read more: Marine biologist Douglas McCauley on environmental philanthropy

Creating the right framework for sustainable blue economy investment is thus crucial, he says, and the Oceano Azul Foundation’s Blue Azores programme is a model for how this can be achieved. The Azores, an autonomous region of Portugal, is an Atlantic archipelago that is home to some highly diverse and under-pressure marine environments and ecosystems. In partnership with the Regional Government of the Azores and Waitt Foundation, the Foundation has run two scientific research expeditions, the result of which was the February 2019 signing of a memorandum of understanding for both the conservation of those environments and the sustainable development of resources and fisheries within the area.

As a result of the memorandum, 15 per cent of the Azores Exclusive Economic Zone will be designated as marine fully protected areas, with comprehensive plans for the sustainable development of resources and fisheries within the zone – in line with the UN’s 2030 sustainable development goals, among others – to follow.

The Oceanarium building, designed by Peter Chermayeff in 1998. Image by Pedro Pina

Blue Azores is a great example of what can be achieved through a marriage of government, society and business investment, says dos Santos. “The Azores government has an outstanding leader who appreciates the need to take political decisions that will go beyond his term of office. It makes the Azores a very good place to invest, because there are programmes there that you can measure, and you can see making a difference. They will be good for the fishing industry, but also for the preservation of the oceans.”

It’s precisely that kind of win-win that dos Santos believes is key to building a stronger, better understood and more resilient approach to marine conservation and development. It’s a big job, but he has faith that it can be done – and more quickly than you might expect. “I am a great believer in humankind – given the right circumstances, we are capable of achieving extraordinary things and really making a difference to the planet.”

Lisbon Oceanarium

Opened in 1998 and designed by architect Peter Chermayeff, who also conceived the design for the Osaka Oceanarium, the spectacular Oceanário de Lisboa is home to some 16,000 marine organisms representing 450 species from across the globe. The attraction’s centrepiece is a vast tank containing five million litres of sea water, in which approximately 100 species – including sharks, rays and a giant sunfish – swim in near-ocean conditions.

The Oceanario is also the base for dedicated teams of experts in education and ocean conservation, including more than 30 highly qualified marine biologists. Its educational outreach programmes reach more than 100,000 school children every year.

Find out more: oceanoazulfoundation.org

This article originally appeared in the LUX x Deutsche Bank Wealth Management Blue Economy Special in the Autumn/Winter 2020/2021 Issue.

Port, the great fortified wine created by the English in Portugal, was once an essential indulgence in every self-respecting home. Now, after decades of being as unfashionable as acrylic slacks, it is showing signs of a comeback. Leading wine commentators extol its high standards and fantastic value for money, and a new generation of mixologists is creating port-based cocktails from the beaches of Ibiza to the underground bars of Manhattan. Photographer COLIN HAMPDEN WHITE recently toured the Douro region of Portugal, home to the ancient port houses, and we showcase his images on this page

Down The River – Viewing the scenic and culturally-rich upper Douro Valley by boat

Douro Valley – Six villages are located on the slopes of the valley, each contributing to the region’s wine-producing industry

Respected as a producer of wood aged ports, Taylor’s holds one of the largest reserves of rare cask aged wines

Quinta do Noval – One of the major historic Port houses, renowned for its great Vintage Ports, old Tawnies and since 2006, for its Douro wines

Grapes at Quinta do Noval are picked exclusively by hand

Taylor’s is regarded as the benchmark for Vintage Port