A report in the Tizer 6 October says when Treasury Wine Estates (TWE) releases Penfolds Grange 2012 on 20 October its suggested retail selling price will be $850 a bottle.
If true it amounts to an increase of $65 a bottle on last year’s price. The Tizer says retailers and industry insiders, “remain uncertain of the public’s response.”
Come on guys, if a retailer with any consumer understanding or a so called industry insider then you should know the public response.
The price and reputation of Grange will has it has already done generate huge publicity in Australia and this will be reflected in lesser degrees in other parts of the world. The Penfolds full brand range will benefit from this and TWE will be delighted as it won’t have cost them a great deal.
- Non wine drinkers will scoff and say no wine is worth that price.
- The majority of wine drinkers will say it’s beyond their price range.
- If retailers haven’t got the customers that want and can afford the wine they will be daft to stock it.
- Retailers that do have customers who can afford the wine will buy it, sell it and make a handsome profit on it.
It’s predicted the 2012 Grange will get good reviews from, “major critics,” according to the Tizer. Major critics does not include TKR as TWE thinks we are not major enough to critique any of its wines.
TWE will use the high price to attract the snob appeal of the less wine knowledgeable but vastly wealthy global community. TWE will also pour this and other vintages of Grange liberally for their vastly wealthy target audience. The privileged thinking they are being poured wine worth over $100 a glass when in reality it wouldn’t have cost a 10th of that to produce.
It will show the world Australia is capable of producing wine that ranks way up there alongside overpriced luxury Champagnes, outrageous valued Bordeaux and exorbitant money grabbing Burgundies.
As with all these wines it will also show there are lots of other wines available from these regions that are just as good but with half the reputation and cost a third of the price. Go for it TWE and may your Grange go with you.
The latest Accolade Wines twist as reported in The Australian 6 October is two Chinese companies have shown or appearing to show interest in acquiring Accolade Wines as a sole entity.
Either a float or direct sale it’s looking as if the future of Accolade is going to have a big Chinese and or other Asian influence.
The two companies named in the article are China Resources and the Kweichow Moutai Company. China Resources is Honk Kong based but state owned and operates across mainland China and further afield including Australia. It’s the 21st largest state-owned enterprise in China with sales of US$52 billion (2012).
Kweichow Moutai Company Limited is also a Chinese state-owned enterprise sales are around the US$5 billion mark. It specialises in the production and sales of beverage, food and packaging. Its leading brand is Maotai liquor which is sold in Dan Murphy’s for $280 a 500ml bottle, Dan’s tasting note is
“Kweichow Moutai is the most revered of Chinese liquors. Primarily consumed as a celebratory drink, its aroma and taste are reminiscent of Soy Sauce, pear, walnut and almond.”