Penfolds has introduced its 2024 collection of latest vintage releases in both Beijing and Hong Kong, including a premium release named Bin 180, priced at RMB 7,288 per bottle, surpassing its iconic Grange.
The Bin 180 Coonawarra Cabernet Shiraz Commemorative Edition was launched to mark the 180th anniversary of Penfolds, which was founded in 1844. The wine is a blend of Cabernet Sauvignon and Shiraz from the 2021 vintage in the Coonawarra region. The Cabernet grapes were sourced from Block 10, and the Shiraz from Block 5, the same blocks that have supplied fruit for Penfolds’ top-tier wines such as Grange, Bin 707, and Bin 169. Penfolds has positioned Bin 180 as a “classic Penfolds wine.”
In addition to the standard 750ml bottle, Bin 180 will also be available in limited quantities, including 180 bottles of 1.5-liter magnums and eight bottles of 3-liter jeroboams. The 3-liter bottles will be presented in a gift box crafted from French oak barrel staves, designed by South Australian artisan Andrew Bartlett.
The new Bin 180 carries a suggested retail price of RMB 7,288, exceeding the price of the new Grange vintage, which is RMB 6,588 per bottle. However, Bin 180 is a limited-edition commemorative wine, produced only for this vintage.
Penfolds is expected to intensify its promotion of Bin 180 in China, one of its most important markets. On August 8, the brand celebrated its 180th anniversary at Dongjinyuan, a historic 600-year-old site in Beijing, where it also held the Chinese launch of Bin 180. Penfolds’ Chief Winemaker Peter Gago and Chinese actor Duan Yihong, the brand’s ambassador, were present to unveil the wine.
In Hong Kong, the launch event was hosted by Penfolds senior winemaker Steph Dutton.
Penfolds Bin 180 will be available through various sales channels, including wholesale, retail, and e-commerce. Shipments to customers in China have already begun, and the wine is expected to be available for purchase soon.
The 2024 collection also includes the 2020 vintage of Grange, the 2022 vintage of Bin 707, and several American wines from the 2021 vintage, including Bin 149, Bin 704, Bin 600, and the newer stablemate, a Howell Mountain Napa Valley Cabernet Sauvignon Cabernet Franc.
Additionally, the collection features the second vintage of CWT 521, a wine blending Cabernet Sauvignon from Shangri-La, Yunnan, and Marselan from Ningxia, reflecting Penfolds’ commitment to a multi-country origin strategy and its focus on the Chinese market.
Earlier, Penfolds’ parent company announced its plan to divest commercial and lower-range wines including Wolf Blass to focus on its premium wine offerings. The introduction of a limited-edition Bin 180 priced higher than Grange signals the company’s increased focus on the high-end wine market while streamlining its portfolio of commercial brands.
Discover more from Vino Joy News
Subscribe to get the latest posts sent to your email.
