Yellow Tail Has A Currency Problem, Aussie Wine Has A Yellow Tail Problem (by WSJ)

Posted: January 16, 2013 by wynmaker in Australia, Cellars, Wine, Wineries, World wine news
Tags: , , , , , , , , , , , , , , , , ,

 

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Australia’s commodities boom created the $200,000 high-school dropout, the world’s richest woman, and the least affordable housing market on earth. And it could soon put a dent in the makers of Yellow Tail, the best selling Australian wine in America. From the WSJ’s Caroline Henshaw:

Australia’s largest family-owned winery relies on the U.S. for three-quarters of its sales, but the Australian dollar’s rise against the U.S. dollar has made its products less competitive against wines from rival regions such as California’s Napa Valley and South America.

Casella Wines is looking to shave costs and secure a deal with lender National Australia Bank ahead of an extended Jan. 30 deadline. A failure to secure a new loan could force the company to sell off vineyards or other assets, Chief Executive John Casella told The Wall Street Journal.
Read on …

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