The Jreissati family made their money in property and aim to build Levantine Hill into an ultra-premium brand with the cache of Penfolds.
has been attempting to create a so-called “white Grange” since 1998 through its top-end Yattarna chardonnay, which in its last vintage had a recommended retail price of $175 per bottle. But Treasury Wines next month puts on the market a multi-vintage version of Yattarna, selling for $875 per bottle under the special label of Penfolds V.
Levantine Hill, based in Victoria’s Yarra Valley, was established in 2009 by the Jreissati family, who built their fortune in property development, via the Bensons Property Group.Levantine Hill chairman Mr Jreissati said there has been no slowdown in spending from the group’s customer base after 10“At our price point and product offering, we have experienced little change in the profile of customers or their spending patterns,” he said.
A Levantine Hill Optume shiraz from the 2018 vintage sold out fast last year at $880 per bottle. The Optume chardonnay is from the 2020 vintage. Mr Jreissati said the company admired the high-end players such as Penfolds which had a long history in top-tier wines.
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