The saga continues: Penfolds Coonawarra Claret Shiraz Cabernet (Magnum) 2009
14th March: I’m reposting this article again purely as the Penfolds Bin releases episode has continued to unfold over the past week.
Now I’m relying on updates from reputable people close to the source, but these are still just allegations and should be treated as such…
So firstly, allegedly, Treasury Wine Estates are angry. No surprises there, but it’s their response that is of interest, including the allegation that they refused to resupply Woolworths and Coles (with the Penfolds Bin products) once the wines were publically advertised so far below cost. This sounds highly unusual (and a legal minefield), but short supplies last weekend in many chain stores adds veracity to these claims.
Further, it seems that Treasury Wine Estates (TWE) staff were also allegedly seen filling up their cars with all the 389 they could purchase from one of the main antagonists in this saga, Coles discount store 1st Choice, last weekend too.
Given that the store was selling the 2008 Bin 389 for just $36 a bottle (which places it at almost half the RRP of $65 and 25% off the normal wholesale cost price) this is actually a reasonably smart move, as it’s only striking a blow back against Coles in the long run, as Coles are running this as a loss leader to drag people into the stores, which thus fails if those people are TWE staff buying back stock below cost…
Penfolds Coonawarra ‘Claret’ Shiraz Cabernet (Magnum) 2009