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 An Ad from a 1997 newspaper by a Sydney retailer and reported by the Business Insider shows Penfold Bin 389, the wine dubbed Baby Grange because it’s matured in old Grange barrels, has jumped more than 350% in price, from just under A$19 to around A$75 today at the case price. The current vintage released has already sold out and it is reported that the price may be hiked again next year to $80. Similarly the other premium Penfold 407- Cabernet Sauvignon, has skyrocketed in price over 19 years – you’ll get it for about $72 by the dozen, an increase of 423% on the $17 price then.
St Henri changes hands for around $90, another 350% increase from $26 back then and Magill Estate Shiraz has gone from $40 to $130.
At the bottom end of the range, Koonunga Hill still remains one of the bargains. Two decades after it sold for A$8.99, you can still by it for just A$9.99, a price rise of a little over 10% only.
Treasury Wine Estates has seen a tremendous change in the fortunes f the company within two years since Michael Clarke took over as CEO. Yesterday the company, which owns some of Australia’s most famous brands, including Penfolds, Wolf Blass, Rosemount and Lindeman’s, announced that the profits have doubled last year. Volumes were even higher at 11.5%/
Since the business was spun off from its beer-making parent in 2011, TWE has been concentrating on fewer, more prestigious labels as part of a masstige wine (quality mass appeal).
At the delWine Excellence Award Dinner to be organised at Pullman Aerocity New Delhi, one of the wines served with the sit-down dinner for 300 people, will be Penfold bin 2 a decent quaffable Penfold. The wine is being sponsored by Brindco, the new distributor after there was a recent change of guard.
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