At 95, Peter Mondavi Reflects on Life in Wine
He's not a fan of the big wines of 15 or even 16 percent alcohol — "It's like a wine cocktail."
As for the boutique wineries that have sprung up, making very small amounts of very expensive wines, he thinks they do "a terrific job," but can't help but smile at some of the extremes of the ultra-premium wine world.
"A $1,500 bottle of wine?" he says, shaking his head and laughing.
Back when Mondavi began his career, $1,500 would buy you a lot more than a bottle.
Family patriarch Cesare Mondavi brought the family to California in the '20s and worked in the wine business for two decades before buying Charles Krug in 1943.
Cost of the 147-acre property: $75,000. Today a single acre of prime Napa Valley land can sell for double that.
Krug, founded in 1861 by Prussian immigrant Charles Krug, was the Napa Valley's first commercial winery and plans are under way to celebrate the 150th anniversary. Renovations are nearly complete at the original winery — a gracious stone building that still has one of the original, towering redwood tanks on display.
Back in the '40s those tanks were in full use. After the Mondavis bought Charles Krug, they went to work reviving the business.
World War II was followed by a downturn that led the family to think about selling one of the labels, but they hung on. "Thank God we didn't sell anything, especially the CK," Mondavi says now with a laugh.
In 2009, sales of CK Mondavi — featuring varietals such as chardonnay and cabernet sauvignon for $6 to $8 a bottle — were up 14 percent as of the fiscal year ending in August, says Marc Mondavi, who oversees that side of the business.
Higher priced wines have struggled everywhere and even though the Charles Krug brands are reasonable by Napa standards, starting at $18, the family has been able to maintain, but not improve sales, says Peter Mondavi Jr.
