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New Zealand Wine Retailer Stands Up To Australian Goliath

New Zealand Wine Retailer Stands Up To Australian Goliath

Worldwide attention reported in UK’s ‘Decanter Magazine’

Auckland, 6 March, 2012 - New Zealand retailer The Fine Wine Delivery Company is making a stand against publicly listed Australian giant Treasury Wine Estates in protest against what it describes as “outrageous price increases”.

The Australian conglomerate is using a surge in demand from the new and unproven Chinese market as an excuse to apply dramatic price increases in New Zealand across their popular Penfolds Bin range that were released 1 March. Kiwis can now expect to pay 36-50% more for these beloved wines. This is a huge betrayal for New Zealand wine lovers who have collected and supported these wines for decades.

The Fine Wine Delivery Company have promoted the Penfolds Bin range every March for all of their 15 years, partially because of Managing Director Jeff Poole’s 10 year history selling Penfolds in Australia, and largely because the wines offered exemplary quality at fair prices. However, while it would be commercially advantageous to advocate the wines in spite of their price hikes, Poole has decided to take a stance against this profiteering move.

In The Fine Wine Delivery Company March Newsletter, distributed to thousands of wine lovers nationally, he instead wrote a column titled “For the first time in 15 years you won’t find Penfolds in our March brochure” ” (link to full article here). In it he writes; “This year current owners, Treasury Estates, have augmented price increases close to 50%. Whilst it is the prerogative of any business to capitalise on increasing international demand and supply, we view this massive increase as a slap in the face for loyal NZ customers. We are disappointed to say we can no longer call Penfolds the “Kings of Value” in NZ.”

This stance has gained tremendous support from customers. E-mails have been flowing in with one customer saying; “Guys, nice stance on Penfolds in you mailer. Good on you!”, another said; “Congratulations on your justified stance against Penfolds price hike!” and another said; ”Good on you, their wines are good……. but not that good. I only hope others have the courage to do the same. We won’t buy any… the first time for many years.” Just three of many examples.

The stance has also gained international attention when the United Kingdom’s most important wine magazine ‘Decanter’ picked up the story in an article titled “Penfolds outrages merchants with 'slap in the face' price hikes”

According to the article “A number of UK merchants, who did not want to be named, also revealed that they would not be taking their allocation this year due to the price rises.” Jeff Poole has no qualms being named, as an independent retailer he is not afraid to speak out on behalf of disheartened Penfolds collectors.


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