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.
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Diageo's future brighter than present suggests
- Focus - Heineken's Q3 Performance by Region
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- Diageo puts Beckham centre stage in Haig Club ad
- Smirnoff Ice gets India launch