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.
- AB InBev, SABMiller - Here's what'll happen next
- Is time right for TWE to move for Diageo's wines?
- Will a sexed-up SABMiller tempt AB InBev?
- Is Brown-Forman at the end of the SoCo road?
- Making consumers the centre of your business
- AB InBev makes formal offer for SABMiller
- Diageo makes US$780.5m beer deal with Heineken
- SABMiller formally rejects AB InBev's offer
- Brito gives call to arms to SABMiller shareholders
- Carlsberg UK chief James Lousada quits
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research