Risky though it is, after a year of gradual improvement in Sterling Vs the US Dollar, we are putting the vast majority of our prices down!
It was with much regret that we announced a lot of price rises in February 2017. We'd held on for as long as possible but Sterling's sustained weakness against the US Dollar from June 2016 up to that point left us no choice.
Now, following a year of gradual improvement with the FX situation, we are happy to be able to lower the vast majority of prices - no fewer than 85% of our Argentine wines in fact! (The exceptions are due to price rises at source.) And the reductions are significant. Favourites such as Serbal Malbec and Aniello 006 Merlot are down by 38p per bottle; Susana Balbo Malbec down by 87p per bottle; Benegas-Lynch Meritage down by £1.92 per bottle.
We are under no illusion, this is a risky thing to do because the economic horizon is far from stable, but we said back in February 2017 that we would monitor the situation; that's what we've done and that's what we'll continue to do, so let's hope the pound holds its ground.
We are confident this decision will enable our many loyal customers in the trade to offer our wines at yet more competitive prices and thus pass the savings down the line to consumers via sharper prices on shelves and wine lists.
As far as Europe goes, and despite heavy upward pressure on our costs, we are holding firm on all but one of our prices.
In addition to all this news about pricing we have, as always, added some lovely new things to our portfolio from April 1st 2018, least not a number of great new wines from Spain, and we hope you will request samples and add them to your ranges in due course.
Wishing you every success in 2018 and thanks as always for your great support!
The Las Bodegas team.