AUS: Casella Wines eyes premium brand launch - report
Casella Wines is planning to release a new premium wine brand in the US next year that will sell for around 50% more than its Yellow Tail brand, according to reports.
Late last week, John Casella, Casella's MD told Bloomberg that a new brand with two red varieties and one white will be released in the US by the end of next year, to combat a squeeze on Australian wine exports. It is expected to sell for around AUD10 (US$10.40) a bottle.
“There’s scope for some premium Australian wines that are badly under-represented,” Casella was reported as saying. “This dollar level isn’t sustainable for this economy.”
Australian wine exports fell by 10% in both volume and value last year, according to latest statistics, with the strength of the local currency being partly blamed.
Casella is also understood to be targeting Asia, where demand for higher-priced Australian wines is high.
However, a Casella spokesperson later told just-drinks that plans for another range of wines are "very premature".
In March, Casella appointed a regional business development manager for its Yellow Tail brand in Asia to help make inroads into the region's markets.
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Diageo Africa president O'Keeffe on beer & spirits
- Travel Retail needs a disruptor - Comment
- Is sustainability now as important as financials?
- Diageo ready to lock horns with AB InBev in Africa
- Fever-Tree eyes bumper NPD, pack formats for 2017
- Heineken sees Tesco pull SKUs in UK
- Diageo unveils Blender's Batch in the US
- Heineken mulls M&A with $1.75bn notes issue
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Spirit Market in the Top 5 European Countries to 2021 - Market Size, Development, and Forecasts