Treasury Wine Estates aims to “demystify” Italian wine for older Millennials
Australian wine giant Treasury Wine Estates (TWE), the company behind popular brand Penfolds, is unveiling a new range of Italian wines, Cavaliere d’Oro. The wine will be available in the U.S. from January 2019, with launches for other markets, including China, Latin America, and Canada, to follow at an unspecified time. TWE said this new range will “capture growth opportunities” in Italian wine, and “looks to disrupt an old world wine category.”
Treasury Wine Estates’ share price has appreciated by 12% year to date
SOURCE: Yahoo Finance
Cavaliere d’Oro is the next step in the expansion of TWE’s ‘country of origin’ portfolios, and it’s aimed squarely at older Millennials, between the ages of 28 and 40. This important demographic now has the money to enjoy wine, and a lifestyle that complements it. The ‘country of origin’ portfolio consists of 13 wines across three tiers: the Chianti range, the Regional range (which includes locations like Tuscany Sicily and Puglia), and the Styles range (which includes wines like Tuscan red blend and pino grigio and prosecco).
TWE’s chief marketing officer Michelle Terry said: “Today marks another significant milestone for TWE as a truly global wine company. We have strong and successful Australian, New Zealand, American and French portfolios of wine, and we are proud to now offer Italian wine through a portfolio that is accessible and compelling for consumers. We are building on and expanding the legacy of success driven by Gabbiano, which has a history of more than 500 years of producing high quality Chianti – Gabbiano Chianti, is in fact the number one selling Chianti (by volume) in the US.”
Dominion holds Treasury Wine Estates in its Global Trends Luxury Fund.
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