Aussie Wine in Need of a Redux?

According to Australian Website WAToday, the Aussie vino industry is in need of a serious makeover. The brief article features an interview with the group director of Foster's Group, which is one of the largest exporters of wine in the country. Known around the world for its affordable (but in my mind, quite bad) and well marketed YellowTail brand, the Aussies have had an excellent 10 year run in the wine industry. Their presence in Supermarkets and wine shops around the world has quintupled, but now has hit a wall. Chalk it up to the economic recession, poor management on the exporting companies fault or just buyers fatigue - I'd say you can expect some sort of major re-branding efforts coming to a store near you in the next year.

From WAToday:

The Australian wine industry needs to undergo a major overhaul so it can regain its place as a leading exporter, Foster's group director says. James Lovell says the industry is doing it tough in the face of increased competition and the global financial crisis. "We've all got some adjustments to make," he told delegates at the Australian Bureau of Agriculture Resource Economics Outlook 2009 conference in Canberra on Tuesday. Mr Lovell said exports had been steadily increasing between 1990 and 2007 on the back of Australia's image as a country of fine wines. But since last year, exports had dropped significantly, he said. "Our competitive advantage has gone and our competitors are catching up."