Treasury Wine Estates has lifted the price tag of its flagship wine Penfolds Grange to $1000 a bottle for the new 2018 version which officially goes on sale from August 4, as liquor retailers say there is no slowdown in spending among high-end wine buyers.
The two previous versions of Penfolds Grange – the 2016 and 2017 released in 2020 and 2021 respectively – each had a recommended retail price of $950 a bottle. This new version from the 2018 vintage means a 5.3 per cent increase for Australia’s most famous wine.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
