Image courtesy Penfolds Facebook.

Penfolds has been named as the “fastest-growing wine and champagne brand” of 2023, in a recent report released by brand valuation and consulting company Brand Finance.

The Alcoholic Drinks 2023 report assessed the value and strength of alcohol brands, creating lists of the top ten most valuable in beer, spirits and wine, with Penfolds placing 7th in the Wine and Champagne category. With a brand value of USD659 million, Penfolds have seen a 48 per cent increase in brand value since last year.

There were two Australian labels to make the list, with Jacob’s Creek listed at number 10. Moët & Chandon topped the Wine and Champagne list for the third consecutive year, with a brand value of USD 1.3 billion.

As detailed by Brand Finance, “By embracing new technologies and innovation, Penfolds has streamlined its consumer-centric approach. This includes the brand’s launch of its 2022 wine collection which, for the first time, expanded beyond Australian-made wines.”

Brand Finance cite the inclusion of international wines in Penfolds’ 2023 collection as a contributor to improvements in brand’s value and strength.

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