By James Atkinson
Treasury Wine Estates will move the release dates for new vintages of its Penfolds Bin Series and Penfolds Icon & Luxury Collection wines to one combined annual release, starting October 16 this year.
CEO Michael Clarke today said the move complements TWE’s recent decision to significantly increase investment in consumer marketing and will help ensure that each additional dollar invested has maximum consumer impact.
He said the move ensures the Penfolds wines are available for sale over a much longer trading period and means the company is better placed to manage allocations and inventory levels with key customers around the world throughout the year – in contrast to selling through the release in the final quarter of each fiscal year.
“An October release for Penfolds wines is fully supported by our winemaking teams,” said Clarke.
“This change places the consumer at the heart of our business model with Penfolds wines now more readily available in the lead-up to key festive periods including Thanksgiving, Christmas, Chinese New Year and Easter.”
Penfolds chief winemaker, Peter Gago, said the October release means the wines will now be shipped from the winery in cooler conditions, ensuring ideal quality when they arrive in market.
“Our current release dates also mean Penfolds winemakers are often busy making wine for the present year’s vintage and are severely constrained in their ability to support sales and marketing efforts. An October release frees them up to provide the support our Bin Series and Icon & Luxury wines deserve,” he said.
Penfolds plans fridge promotion
Clarke said TWE will launch its biggest ever consumer promotion next month. For any six bottles of Penfolds Bin Series or Icon & Luxury wines purchased, consumers in Australia will be able to purchase an exclusive refrigerated wine cabinet that stores up to 32 wine bottles at a significantly reduced price.
The campaign is expected to run for three months and will be available in many off-premise retail locations.
“This is just one of many consumer facing marketing campaigns TWE will be implementing in fiscal 2015 and represents a significant and exciting shift in the way in which we invest in our brands,” said Clarke.