Wine News & New Releases

Vint Marketplace Weekly News – Edition #1

Bordeaux En Primeur 2023 & Impact of a Potential Reduction in Release Prices

As the 2023 Bordeaux En Primeur campaign is about to kick off, we wanted to highlight this article from the Drinks Business. The article examines the campaign’s challenges and questions whether a significant 35% price reduction can revitalize it.

This 35% number caught our eye, as it matches with what Bordeaux insider Jane Anson stated in our recent Vint Podcast interview. Jane noted that she has spoken to producers on their 2023 En Primeur prices and has heard from multiple chateau owners that they were planning a potential 30%-40%. You can listen to Jane’s full thoughts on the upcoming 2023 En Primeur prices by clicking here and fast-forwarding to 39:00.

The Drinks Business article focuses on market dynamics and the financial sustainability of en primeur investments. It also explores potential strategies for vineyards, considering the impact of early price reductions by leading properties.

Read Full Article

Stay tuned for Bordeaux En Primeur Offers to begin in the coming weeks.

Treasury Wine Estates to Increase Penfolds Price & Focus on Premium Wines

Treasury Wine Estates is set to significantly recalibrate its focus towards premium and super-premium wines by offloading its lower-priced brands and raising the prices of its renowned Penfolds range. Specifically, prices for Penfolds will increase by 5% to 7% across all markets starting from July 1, 2024. This decision comes as part of a broader strategy to align with the shifting consumer preference towards higher-end wines and responds to the reopening of the Chinese market, where Treasury anticipates only modest growth initially but expects a substantial surge by 2026. The planned price hike reflects the current supply constraints faced by Treasury’s luxury wines, particularly as global demand remains strong, even surpassing supply levels prior to China’s market reopening. This shift in strategy is further evidenced by CEO Tim Ford’s move to enhance their luxury portfolio, including the acquisition of Daou Vineyards in the United States, aimed at bolstering their position in the lucrative high-end wine market. Read More Full Articles:

Penfolds to Increase Prices Article | Treasury to Focus on Premium Wines Article

Shop Penfolds Wines 

Former Vietti Leaders Start Cascina Penna-Currado in Serralunga d’Alba

Luca Currado Vietti and his wife Elena Penna, formerly of Vietti winery, have launched Cascina Penna-Currado in Serralunga d’Alba, within the Barolo zone. They acquired a historic farmhouse dating back to 1554, transitioning from their previous roles—Luca as CEO and head winemaker, and Elena overseeing commercial operations at Vietti. Their new venture focuses on producing Barolo, Barbera, Dolcetto, Langhe Nebbiolo, and a Timorasso white, with grapes sourced from San Sebastiano, a key area in Barolo’s history. They manage 13 hectares of vineyards, emphasizing traditional wine styles. The first Barolo release is scheduled for 2027, including both a classic blend and two single-vineyard versions. 

Read Full Article

Shop Vietti Wines

Wine Advocate Reports: 2021 Napa Vintage Shows Promise

Joe Czerwinski went to Napa in 2023 and tasted the promising 2021 vintage wines, set to be bottled and released later in the year, during a notably mild growing season compared to the challenging conditions of 2020. Despite economic uncertainties affecting wine prices, the 2021 vintage shows potential for high quality, comparable to recent successful years. 

He goes on to state, “Outside of the mailing-list darlings that require you to buy promptly and regularly to maintain an allocation, savvy consumers may want to look at purchasing remaining 2018s and 2019s—and possibly earlier top-flight vintages—assuming proper storage.”

Read Full Article (Paywall)

Shop Napa Valley 2018 & 2019 Wines 

Highlighting Excellence: 2024 James Beard Nominees Announced

The James Beard Awards, often referred to as the “Oscars of the culinary world,” recognize exceptional talent in the restaurant and food industry across the United States. These prestigious awards celebrate culinary excellence, innovation, and community involvement, setting benchmarks for quality and fostering a greater appreciation for chefs and food professionals nationwide. In 2024, notable Outstanding Chef nominees include Sarah Minnick from Lovely’s Fifty Fifty in Portland, OR, Dean Neff from Seabird in Wilmington, NC, Michael Rafidi from Albi in Washington, D.C., Renee Touponce from The Port of Call in Mystic, CT, and David Uygur from Lucia in Dallas, TX. The finalists for the Outstanding Wine and Other Beverages Program are Lula Drake Wine Parlour in Columbia, SC, The Morris in San Francisco, CA, Strong Water Anaheim in Anaheim, CA, Tail Up Goat in Washington, D.C., and Waxlight Bar à Vin in Buffalo, NY. These nominees represent the highest standards in their fields, contributing significantly to their communities and the culinary landscape.

Read more in this Eater article or via the full James Beard 2024 press release linked here.

Senior Wine & Spirits Specialist

Billy Galanko, DipWSET