Page 35 - Food & Drink Business August 2018

New markets unfold for Penfolds
Treasury Wine Estates has plans to take the Penfolds brand beyond Australia and into the US, China and France as part of its latest strategy for growth.
TREASURY Wine Estates (TWE) is moving the production of its luxury wine brand Penfolds beyond Australian shores, with the announcement of plans to extend sourcing to overseas markets such as the US, China and France.
TWE plans to start producing Californian red wine under the South Australian brand out of the Napa Valley later this year, with the first wines to be ready in 2022.
The Napa Valley grapes will be used to craft Penfolds wine styles from the California 2018 harvest onward.
Penfolds chief winemaker Peter Gago says the Penfolds House Style allows the company the freedom to explore viticultural regions across the world.
“We are striving to add outstanding Californian- sourced wines to our offering by fiscal 2022,” he says.
TWE also recently announced a new range called Penfolds Special Bottlings, which includes a pot-distilled 28-year-old single-batch brandy; a premium fortified Barossa shiraz (94%) enlivened with Asian spirit Baijiu for the Chinese market, scheduled for release in September; and a champagne sourced from France, expected to be released in calendar year 2019, in time for the celebration of Penfolds 175th anniversary year.
“The Penfolds winemaking team is delighted to engage in a profound expansion of our core range, while preserving Penfolds DNA and at the same time building upon the creativity, ingenuity and boldness of our winemaking ancestry,” Gago says.
TWE CEO Michael Clarke says the latest steps are helping the company build “true trust marks”, expanding the Penfolds stable to include brandy, spirited wine and multi-country sourcing. “Innovation of this nature plays a critical role in driving long term, sustainable growth for the company as we broaden brand appeal and offerings to consumers around the world,” he says.
“Multi-region and multi- country sourcing brings excitement and energy into established brands and at the same time strengthens TWE’s ability to deliver consistent, quality wine year on year, regardless of vintage variation.
“This is all part of a much larger agenda we have to deliver continued growth.” ✷
ABOVE: A premium fortified Barossa shiraz enlivened with Asian spirit Baijiu has been designed for the Chinese market and is scheduled for release next month.
BEVERAGES
www.foodanddrinkbusiness.com.au | August 2018 | Food&Drink business | 35