Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


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.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news