Australian Wines Face a Tough August
Australian wines continue to lose market share in the U.S. to American wines, Argentina, New Zealand and Chile despite a US8c fall in the value of the currency over the course of the month. Nielsen data shows that Australian wines fell by -3% in August in the U.S., despite an increase of 4% in US wines.
Sales of Foster's wine brands fell by -1% in August, following a 1% gain in July and a flat result in June.
Beringer was down -3%, while Lindemans was down -1%, Rosemount -17% and Wolf Blass -8%. However, US-made Chateau St Jean was up 10%, while Italian label Gabbiano posted an 8% rise and Penfolds was up 5%.
Meanwhile, Foster’s competitors Yellow Tail and Jacob’s Creek reported strong growth in August.
Goldman Sachs JBWere analyst Ian Abbott said he expected Foster's US dollar wine revenue to fall by -6% in the current financial year, after currency movements cut $70 million from wine division earnings in 2007-08.
AUSTRALIAN EXPORTS DIP. Overall, Australian exports dropped -13% to 702 million liters, while their value decreased a similar percentage to $2.6 billion.
The average price paid for Australian wine dropped -1% to $3.73 per liter. The price of bottled wine dropped -7% to $4.47 a liter while the price paid for bulk wine grew 20% to $1.23 a liter.
The value of wine shipped to the US fell by -21%.
MICHAEL MONDAVI PAVES NEW FAMILY FRONTIER
Michael Mondavi is following in his father’s and grandfather’s entrepreneurial footsteps. Focusing on his new company, Folio Fine Wine Partners, Mondavi is working to build “long-term partnerships, through friendships, both in the Napa Valley, and across the wine world,” according to an article in winebusiness.com. His company markets for wines coming from California, Spain, Austria, Italy, New Zealand and Argentina. Folio is also the importer for the 800-year-old Italian wine family, the Marchese di Frescobaldi.
Folio’s new winery spans 275 acres in Napa Valley’s Carneros, Atlas Peak, and Aetna Springs appellations. His flagship wine, M by Michael Mondavi, is a 2005 reserve made completely from Cabernet Sauvignon and retails at $199.
Michael’s son Rob is president of winegrowing, while his daughter Din is creative director for the winery. Mondavi’s wife, Isabel, developed their artisinal food wines under the label "I'M." Mondavi also distributes an additional 350,000-plus cases from his world partnerships. About 70% of that figure comes from his near 30-year relationship with the Frescobaldi family in Italy. His wines range in price from $9.99 up to $350 for the Masseto from Tenuta dell'Ornellaia, a Frescobaldi signature wine. Most of his wines fall in the $14.99 to $35 dollar range.
“Along the way, we've developed the philosophy that we'll only do business with people we can enjoy, and who want to enjoy us,” he said to Wine Business.
To read more of the interesting article, click here.
JIM BEAM DISTILLERY LAUNCHES “VISITORS’ EXPERIENCE”
Beam Global announced today plans to develop a multi-million dollar tourism project for Jim Beam at its Clermont distillery. The Jim Beam Distillery Visitors' Experience project hopes to “heighten consumer interest in crafting bourbon and increased travel along the Bourbon Trail.”
The three-phase construction will include displays of historical documents and images highlighting the history and heritage of Jim Beam. Completion of this project is expected before the start of the tourist season in April 2011 and will be able to accommodate approximately 200,000 visitors a year.
"As the first stop from Louisville on the Kentucky Bourbon Trail, we want to offer our visitors the best experience possible," said Jim Beam Noe, great-grandson of Jim Beam and head of the Visitors' Experience project.
TEMECULA VALLEY ERECTS NEW SLOGAN
“Southern California Wine Country” is the new slogan for Temecula Valley, debuting this week. The Temecula Valley Convention and Visitors Bureau hired San Diego firm, Mieriello Grafico, last year and spent $100,000 on the new logo, a slogan and a 32-page branding guide, according to The Press-Enterprise.
The region is hoping high gas prices will encourage wine drinkers from San Diego and L.A. to visit local wineries instead of head north for Napa or Sonoma.
The Temecula Valley Convention & Visitors Bureau, with a budget of $1.2 million, started in 2006 when hotels in Temecula agreed to add a 2% fee to each guest's bill that would help pay for the group's budget. Temecula contributes $120,000 annually and the Pechanga Resort & Casino has pledged to contribute $300,000 annually until 2010.
MONTES ESTATE UNVEILS NAPA ANGEL
Chilean wine estate Montes has just released its first Napa wines, the Montes NapaAngel 2006 and the Montes NapaAngel Aurelio's Selection 2006. The winegrapes hail from Coombsville, Stags Leap, Yountville and Rutherford AVAs, and were shown Monday in San Francisco with other Cabernet-based wines from Chile.
The NapaAngel project is a joint venture with Montes longtime importer Alex Guarachi, of TGIC wine importers in Woodland Hills, with Montes owning 54%.
The Montes NapaAngel will retail for $55 and the Montes NapaAngle Aurelio's Selection will sell for $90.
AUSTRALIAN VINTNER LAUNCHES NAPA WINE
Two Hands Wines, which specializes in Shiraz, is releasing two 2005 Cabernet Sauvignons from their new American venture, Two Hands Napa. The wines are called "Charlie's Patch" and "Some Days Are Diamonds." Suggested retail prices are $120 and $45, respectively.
The wines were crafted at the Outpost winery on Howell Mountain by winemaker Thomas Rivers Brown with consultation from Two Hands partners Michael Twelftree and Richard Mintz. The wines will be marketed in select states by importer Terlato Wines International.
WSD BRIEFS:
UNION BANK OF CALIFORNIA has opened a wine industry services office in St. Helena to increase support for the industry in Napa and surrounding counties.
CONSTELLATION BRANDS said Andrey Grumondz will be the company’s first sales director based in Russia. He most recently served as key account director for Diageo in Russia.
GLEN MORAY DISTILLERY SOLD. Glenmorangie Company, owned by Moet Hennessy Louis Vuitton (LVMH) will sell its Glen Moray distillery in Scotland to French spirits group La Martiniquaise. Details of the transaction were not disclosed.
Until tomorrow, Megan
“People who have what they want are fond of telling people who haven't what they want that they really don't want it.”
Ogden Nash
--------- Sell Day Calendar ----------
Today’s Sell Day: 13
Sell days this month: 22
Sell days this month last year: 20
This month ends on a: Tues.
This month last year ended on a: Fri.
YTD sell days Over/Under: -1
WINE & SPIRITS DAILY
Subscribe or check back issues at: www.winespiritsdaily.com
Send news and comments in confidence to: megan@winespiritsdaily.com
© 2008 Wine & Spirits Daily, all rights reserved. May quote with attribution.
Sales of Foster's wine brands fell by -1% in August, following a 1% gain in July and a flat result in June.
Beringer was down -3%, while Lindemans was down -1%, Rosemount -17% and Wolf Blass -8%. However, US-made Chateau St Jean was up 10%, while Italian label Gabbiano posted an 8% rise and Penfolds was up 5%.
Meanwhile, Foster’s competitors Yellow Tail and Jacob’s Creek reported strong growth in August.
Goldman Sachs JBWere analyst Ian Abbott said he expected Foster's US dollar wine revenue to fall by -6% in the current financial year, after currency movements cut $70 million from wine division earnings in 2007-08.
AUSTRALIAN EXPORTS DIP. Overall, Australian exports dropped -13% to 702 million liters, while their value decreased a similar percentage to $2.6 billion.
The average price paid for Australian wine dropped -1% to $3.73 per liter. The price of bottled wine dropped -7% to $4.47 a liter while the price paid for bulk wine grew 20% to $1.23 a liter.
The value of wine shipped to the US fell by -21%.
MICHAEL MONDAVI PAVES NEW FAMILY FRONTIER
Michael Mondavi is following in his father’s and grandfather’s entrepreneurial footsteps. Focusing on his new company, Folio Fine Wine Partners, Mondavi is working to build “long-term partnerships, through friendships, both in the Napa Valley, and across the wine world,” according to an article in winebusiness.com. His company markets for wines coming from California, Spain, Austria, Italy, New Zealand and Argentina. Folio is also the importer for the 800-year-old Italian wine family, the Marchese di Frescobaldi.
Folio’s new winery spans 275 acres in Napa Valley’s Carneros, Atlas Peak, and Aetna Springs appellations. His flagship wine, M by Michael Mondavi, is a 2005 reserve made completely from Cabernet Sauvignon and retails at $199.
Michael’s son Rob is president of winegrowing, while his daughter Din is creative director for the winery. Mondavi’s wife, Isabel, developed their artisinal food wines under the label "I'M." Mondavi also distributes an additional 350,000-plus cases from his world partnerships. About 70% of that figure comes from his near 30-year relationship with the Frescobaldi family in Italy. His wines range in price from $9.99 up to $350 for the Masseto from Tenuta dell'Ornellaia, a Frescobaldi signature wine. Most of his wines fall in the $14.99 to $35 dollar range.
“Along the way, we've developed the philosophy that we'll only do business with people we can enjoy, and who want to enjoy us,” he said to Wine Business.
To read more of the interesting article, click here.
JIM BEAM DISTILLERY LAUNCHES “VISITORS’ EXPERIENCE”
Beam Global announced today plans to develop a multi-million dollar tourism project for Jim Beam at its Clermont distillery. The Jim Beam Distillery Visitors' Experience project hopes to “heighten consumer interest in crafting bourbon and increased travel along the Bourbon Trail.”
The three-phase construction will include displays of historical documents and images highlighting the history and heritage of Jim Beam. Completion of this project is expected before the start of the tourist season in April 2011 and will be able to accommodate approximately 200,000 visitors a year.
"As the first stop from Louisville on the Kentucky Bourbon Trail, we want to offer our visitors the best experience possible," said Jim Beam Noe, great-grandson of Jim Beam and head of the Visitors' Experience project.
TEMECULA VALLEY ERECTS NEW SLOGAN
“Southern California Wine Country” is the new slogan for Temecula Valley, debuting this week. The Temecula Valley Convention and Visitors Bureau hired San Diego firm, Mieriello Grafico, last year and spent $100,000 on the new logo, a slogan and a 32-page branding guide, according to The Press-Enterprise.
The region is hoping high gas prices will encourage wine drinkers from San Diego and L.A. to visit local wineries instead of head north for Napa or Sonoma.
The Temecula Valley Convention & Visitors Bureau, with a budget of $1.2 million, started in 2006 when hotels in Temecula agreed to add a 2% fee to each guest's bill that would help pay for the group's budget. Temecula contributes $120,000 annually and the Pechanga Resort & Casino has pledged to contribute $300,000 annually until 2010.
MONTES ESTATE UNVEILS NAPA ANGEL
Chilean wine estate Montes has just released its first Napa wines, the Montes NapaAngel 2006 and the Montes NapaAngel Aurelio's Selection 2006. The winegrapes hail from Coombsville, Stags Leap, Yountville and Rutherford AVAs, and were shown Monday in San Francisco with other Cabernet-based wines from Chile.
The NapaAngel project is a joint venture with Montes longtime importer Alex Guarachi, of TGIC wine importers in Woodland Hills, with Montes owning 54%.
The Montes NapaAngel will retail for $55 and the Montes NapaAngle Aurelio's Selection will sell for $90.
AUSTRALIAN VINTNER LAUNCHES NAPA WINE
Two Hands Wines, which specializes in Shiraz, is releasing two 2005 Cabernet Sauvignons from their new American venture, Two Hands Napa. The wines are called "Charlie's Patch" and "Some Days Are Diamonds." Suggested retail prices are $120 and $45, respectively.
The wines were crafted at the Outpost winery on Howell Mountain by winemaker Thomas Rivers Brown with consultation from Two Hands partners Michael Twelftree and Richard Mintz. The wines will be marketed in select states by importer Terlato Wines International.
WSD BRIEFS:
UNION BANK OF CALIFORNIA has opened a wine industry services office in St. Helena to increase support for the industry in Napa and surrounding counties.
CONSTELLATION BRANDS said Andrey Grumondz will be the company’s first sales director based in Russia. He most recently served as key account director for Diageo in Russia.
GLEN MORAY DISTILLERY SOLD. Glenmorangie Company, owned by Moet Hennessy Louis Vuitton (LVMH) will sell its Glen Moray distillery in Scotland to French spirits group La Martiniquaise. Details of the transaction were not disclosed.
Until tomorrow, Megan
“People who have what they want are fond of telling people who haven't what they want that they really don't want it.”
Ogden Nash
--------- Sell Day Calendar ----------
Today’s Sell Day: 13
Sell days this month: 22
Sell days this month last year: 20
This month ends on a: Tues.
This month last year ended on a: Fri.
YTD sell days Over/Under: -1
WINE & SPIRITS DAILY
Subscribe or check back issues at: www.winespiritsdaily.com
Send news and comments in confidence to: megan@winespiritsdaily.com
© 2008 Wine & Spirits Daily, all rights reserved. May quote with attribution.
posted at 3:02 PM
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