Isn’t it sad to see a great name like Penfolds “back in
play”, as various private equity firms vie to purchase Treasury Wine Estates,
no doubt to split it into the constituent parts that once were brands in their
own right: Wolf Blass, Lindemans, etc – who remembers Seppelts?
Seems to me that they lost touch with their customers as
they sought to become “luxury” brands with icon wines. Bob McLean at St.
Hallett in the 1990s maintained that he wanted Poachers Blend (and Gamekeepers)
to be his everyday wines so that fans of his Old Block Shiraz could enjoy these
wines and when they wanted something special, dip deeper into their pockets for
Old Block. Penfolds have let those great Shiraz: Bin 28, 128, etc. lose touch
with their regular customers, while seeking to “reposition” them far up the
scale. As for Rosemount, where has that once proud Hunter Valley brand gone,
last seen in McLaren Vale… enough said.
And who can name the previous owners of the Penfolds brand –
Tooth & Co. South Australian Brewing, The Adelaide Steamship Company,
Southcorp? A sad story.
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