Robert Mondavi Company Family Owned, Professionally Managed <ul><li>2003 Annual Shareholders Meeting </li></ul>
<ul><li>HEELCO Financial Consulting, Inc. </li></ul><ul><li>Keith R. Dickson </li></ul><ul><li>Simone Furlan </li></ul><ul...
Agenda <ul><li>1. Introduction </li></ul><ul><li>2. Vision </li></ul><ul><li>3. Competitive Strategies </li></ul><ul><li>4...
Mondavi The Man <ul><li>Born Virginia, Minnesota – 1914 </li></ul><ul><li>Immigrant parents  </li></ul><ul><ul><li>Marche ...
Robert Mondavi <ul><li>“ Wine has been with us since the beginning of civilization.  It is the temperate, civilized, sacre...
Since 6000 BC
Mondavi Vision
Wine Industry Fundamentals <ul><li>Appellation   </li></ul><ul><ul><li>name of region in which wine is produced </li></ul>...
SWOT - 1966 <ul><li>Strengths </li></ul><ul><li>California wine making expertise </li></ul><ul><li>Ability to innovate </l...
Mondavi Vision   <ul><li>1966 </li></ul><ul><ul><li>To become the first winery in California to produce premium wine brand...
Wine Classification Sparkling  k  k  Dessert  > 14% alcohol Table  < 14% alcohol Jug (Commodity) Luxury Ultra Premium Supe...
Grape to Wine to Consumer  Process Flow Grape Procurement Grape Growing Aging Process  Grape Crushing Grape Fermentation B...
Mondavi Business Plan <ul><li>Build RMC Reputation </li></ul><ul><ul><li>Produce a limited quantity of super to ultra prem...
Competitive Strategies
Competitive Strategy <ul><li>Domestic Brand Diversification </li></ul><ul><ul><li>Build brand portfolio in the premium win...
Competitive Strategy   <ul><li>Global Strategic Partnerships </li></ul><ul><ul><li>Expand brand portfolio beyond Californi...
Competitive Strategy   <ul><li>Grape Sourcing </li></ul><ul><ul><li>Company owned and leased vineyards </li></ul></ul><ul>...
Competitive Strategy <ul><li>Process Innovations </li></ul><ul><ul><li>Gentle Grape Handling </li></ul></ul><ul><ul><li>Sa...
Competitive Strategy   <ul><li>Sales and Distribution </li></ul><ul><ul><li>Domestic  </li></ul></ul><ul><ul><ul><li>More ...
Competitive Strategy   <ul><li>Marketing </li></ul><ul><ul><li>12% of consumers drank 88% of wine purchased in US </li></u...
Competitive Strategy <ul><li>Organization Prior to 2001 </li></ul><ul><ul><li>Vice Presidents </li></ul></ul><ul><ul><ul><...
Going Public
SWOT - 1993 <ul><li>Strengths </li></ul><ul><li>Mondavi brand portfolio </li></ul><ul><li>Family-owned business </li></ul>...
Initial Public Offering <ul><li>June 10, 1993  </li></ul><ul><ul><li>Class A Common Stock   </li></ul></ul><ul><ul><ul><li...
Strategy Execution
RMC History 1966-1980 Robert Mondavi Winery Founded 1970 1960 Woodbridge Winery acquisition Opus One JV established 1980 1...
RMC History 1980-1990 Vichon Winery Oakville, Napa Valley acquisition 1985 1980 1990 Byron Vineyard & Winery acquisition, ...
RMC History 1990-1993 1990 1993 1991 1992 Natural Farming adopted Opus One Winery Opens RMC IPO
MOND Price History
Mondavi Brand Portfolio
RMC 2003 Financial Report
Fiscal Year 2003  (Ending June 30, 2003) <ul><li>Decrease in Net Income and Earnings per Share  </li></ul><ul><ul><li>Net ...
FY 2003 Actions <ul><li>Stimulate Sales and Grow Market Share </li></ul><ul><ul><li>Increase efforts in trade promotion </...
Financial Metrics
US Wine Market  Percentage Market Share (Volume)
Sales By Geographic Region
Sales Volume (000,s l) per Brand
Sales Revenue per Brand
Total Cases (9 liter) Sold
Sales Rev - COGS  Gross Profit - SG&A
EBIT - Interest - Taxes
Net Income
Earnings Per Share
The Future
SWOT - 2003   <ul><li>Strengths </li></ul><ul><li>Mondavi brand portfolio </li></ul><ul><li>Family owned </li></ul><ul><li...
Competition <ul><li>Focused Competitors </li></ul><ul><ul><li>Producing premium wines </li></ul></ul><ul><ul><ul><li>Kenda...
International Market Segmentation <ul><li>Countries that consume and produce significant amounts of wine domestically </li...
Forward Looking Competitive Strategies <ul><li>Improve Operating Efficiencies </li></ul><ul><ul><li>10 % staff reductions ...
Domestic Brand Labels
Robert Mondavi Winery   Spotlight District Reserve Napa Valley
Robert Mondavi Private Selection
W oodbridge
Arrowood
Byron
Io
Opus One Baron de Rothschild Joint Venture
La Famiglia
Import Brand Labels
Sena  Eduardo Chadwick Joint Venture
Arboleda  Eduardo Chadwick Joint Venture
Caliterra  Eduardo Chadwick Joint Venture
Luce and Lucente  Frescobaldi Joint Venture
Danzante Frescobaldi Joint Venture
Talomas and Kirralaa Rosemount Estates Joint Venture
Audience Participation
References <ul><li>Bond, G., Porter, M. (2000).  Robert Mondavi: Competitive Strategy.  Boston: Harvard Business School Pu...
MOND Price History 1 2 3 4 5 6 7 8 9 10 11
MOND Price History La Famiglia di Robert Mondavi Frescobaldi family JV, Italy  RM Private Selection - Coastal Sena luxury ...
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  1. 1. Robert Mondavi Company Family Owned, Professionally Managed <ul><li>2003 Annual Shareholders Meeting </li></ul>
  2. 2. <ul><li>HEELCO Financial Consulting, Inc. </li></ul><ul><li>Keith R. Dickson </li></ul><ul><li>Simone Furlan </li></ul><ul><li>Adam Takace </li></ul><ul><li>MBA 670 </li></ul><ul><li>March 10, 2003 </li></ul><ul><li>Dr. Dave Odett </li></ul>
  3. 3. Agenda <ul><li>1. Introduction </li></ul><ul><li>2. Vision </li></ul><ul><li>3. Competitive Strategies </li></ul><ul><li>4. Going Public </li></ul><ul><li>5. Strategy Execution </li></ul><ul><li>6. 2003 Financial Report </li></ul><ul><li>7. Financial Metrics </li></ul><ul><li>8. The Future </li></ul><ul><li>9. The Mondavi Brand Portfolio </li></ul><ul><li>10. Audience Participation </li></ul><ul><li>Simone Furlan </li></ul><ul><li>Keith R. Dickson </li></ul><ul><li>Adam Takace </li></ul><ul><li>Keith R. Dickson </li></ul><ul><li>Keith R. Dickson </li></ul><ul><li>Simone Furlan </li></ul><ul><li>Adam Takace </li></ul><ul><li>Keith R. Dickson </li></ul><ul><li>Simone Furlan </li></ul><ul><li>All </li></ul>
  4. 4. Mondavi The Man <ul><li>Born Virginia, Minnesota – 1914 </li></ul><ul><li>Immigrant parents </li></ul><ul><ul><li>Marche region of Italy </li></ul></ul><ul><ul><li>Old World traditions </li></ul></ul><ul><li>Graduate Stanford University – 1937 </li></ul><ul><ul><li>Economics and Business Administration </li></ul></ul><ul><li>Post Graduation – parents winery </li></ul><ul><li>(Sunnyhill Winery) , St. Helena, Ca. </li></ul><ul><li>Parents purchase of Charles Krug Winery </li></ul><ul><li>for $ 75,000 </li></ul><ul><li>Father’s death – Mondavi ran winery with brother Peter </li></ul><ul><li>Personality conflict with brother </li></ul>
  5. 5. Robert Mondavi <ul><li>“ Wine has been with us since the beginning of civilization. It is the temperate, civilized, sacred and romantic mealtime beverage” </li></ul>
  6. 6. Since 6000 BC
  7. 7. Mondavi Vision
  8. 8. Wine Industry Fundamentals <ul><li>Appellation </li></ul><ul><ul><li>name of region in which wine is produced </li></ul></ul><ul><li>Varietal </li></ul><ul><ul><li>type of grape used to produce a wine </li></ul></ul><ul><li>Terroir </li></ul><ul><ul><li>environmental factors of the region in which wine is produced determine the quality </li></ul></ul><ul><li>Old World Wine Producers </li></ul><ul><ul><li>Centuries of wine making tradition, high quality </li></ul></ul><ul><ul><ul><li>France </li></ul></ul></ul><ul><ul><ul><li>Italy </li></ul></ul></ul><ul><li>New World Wine Producers </li></ul><ul><ul><li>More modern wine producing methods </li></ul></ul><ul><ul><ul><li>Australia </li></ul></ul></ul><ul><ul><ul><li>Chile </li></ul></ul></ul><ul><ul><ul><li>Argentina </li></ul></ul></ul>
  9. 9. SWOT - 1966 <ul><li>Strengths </li></ul><ul><li>California wine making expertise </li></ul><ul><li>Ability to innovate </li></ul><ul><li>California wine country terroir </li></ul><ul><li>Passion for excellence </li></ul><ul><li>Weaknesses </li></ul><ul><li>Perception of US produced wine as being low quality </li></ul><ul><li>Opportunities </li></ul><ul><li>Regulations and traditions within the wine industry internationally </li></ul><ul><li>Ability to innovate </li></ul><ul><li>Threats </li></ul><ul><li>Financial suicide </li></ul><ul><li>High quality premium wines produced by France, Italy, Chile, and Australia </li></ul>
  10. 10. Mondavi Vision <ul><li>1966 </li></ul><ul><ul><li>To become the first winery in California to produce premium wine brands that could compete with the premium wine brands of the world. </li></ul></ul>
  11. 11. Wine Classification Sparkling k k Dessert > 14% alcohol Table < 14% alcohol Jug (Commodity) Luxury Ultra Premium Super Premium Popular Premium Mondavi’s Target Market $3 - $7 $7 - $14 $14 - $25 > $25
  12. 12. Grape to Wine to Consumer Process Flow Grape Procurement Grape Growing Aging Process Grape Crushing Grape Fermentation Bottling Process Packaging Process Marketing & Distribution
  13. 13. Mondavi Business Plan <ul><li>Build RMC Reputation </li></ul><ul><ul><li>Produce a limited quantity of super to ultra premium wines using the most prestigious varietal grapes </li></ul></ul><ul><ul><ul><ul><li>Cabernet Sauvignon </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Pinot Noir </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Chardonnay </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Johannesburg Riesling </li></ul></ul></ul></ul><ul><li>Locate winery in the best vineyard in Napa Valley </li></ul><ul><ul><li>To Kalon Vineyard, Oakville, California </li></ul></ul><ul><li>Build a State-Of-The-Art Winemaking Facility </li></ul><ul><ul><li>Functional and distinctive </li></ul></ul><ul><li>Develop “Best-In-Class” Winemaking Procedures </li></ul><ul><ul><li>Assemble team of viticulture experts </li></ul></ul><ul><ul><li>Develop new technologies and process innovations </li></ul></ul>
  14. 14. Competitive Strategies
  15. 15. Competitive Strategy <ul><li>Domestic Brand Diversification </li></ul><ul><ul><li>Build brand portfolio in the premium wine market </li></ul></ul><ul><ul><ul><li>Price points </li></ul></ul></ul><ul><ul><ul><li>Niches </li></ul></ul></ul><ul><ul><li>Develop new brands using new wine appellations from California Wine Country </li></ul></ul><ul><ul><li>Use long-term debt to finance acquisitions </li></ul></ul><ul><ul><li>Gradually raise brand prices as popularity increases </li></ul></ul>
  16. 16. Competitive Strategy <ul><li>Global Strategic Partnerships </li></ul><ul><ul><li>Expand brand portfolio beyond California </li></ul></ul><ul><ul><ul><li>Combine the wine making expertise of Napa Valley with that of the great wine producers of the world </li></ul></ul></ul><ul><ul><ul><li>Develop a global recognition for Mondavi brands </li></ul></ul></ul><ul><ul><ul><ul><li>France </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Italy </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Chile </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Australia </li></ul></ul></ul></ul>
  17. 17. Competitive Strategy <ul><li>Grape Sourcing </li></ul><ul><ul><li>Company owned and leased vineyards </li></ul></ul><ul><ul><ul><li>50% for highest quality wines </li></ul></ul></ul><ul><ul><ul><li>25% - 2005 goal for all wines </li></ul></ul></ul><ul><ul><ul><li>Densely spaced vineyards </li></ul></ul></ul><ul><ul><ul><li>Sustainable farming practices </li></ul></ul></ul><ul><ul><ul><li>Hand harvesting for higher quality grapes </li></ul></ul></ul><ul><ul><li>Outsourcing </li></ul></ul><ul><ul><ul><li>Over 300 independent grape growers </li></ul></ul></ul><ul><ul><ul><li>75% of contracts – 3 to 7 years </li></ul></ul></ul><ul><ul><ul><li>Partner-like relationships </li></ul></ul></ul><ul><ul><ul><ul><li>Prices paid based on grape quality </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Lending Mondavi vineyard specialists to partners </li></ul></ul></ul></ul>
  18. 18. Competitive Strategy <ul><li>Process Innovations </li></ul><ul><ul><li>Gentle Grape Handling </li></ul></ul><ul><ul><li>Satellite Imaging (NASA) </li></ul></ul><ul><ul><li>Cold Fermentation </li></ul></ul><ul><ul><li>Stainless Steel fermentation tanks </li></ul></ul><ul><ul><li>Gravity Flow Systems </li></ul></ul><ul><ul><li>Oak Barrel Aging </li></ul></ul><ul><ul><li>Capsule-free, flange top bottle </li></ul></ul>
  19. 19. Competitive Strategy <ul><li>Sales and Distribution </li></ul><ul><ul><li>Domestic </li></ul></ul><ul><ul><ul><li>More than 100 independent wine & spirits distributors </li></ul></ul></ul><ul><ul><ul><li>Winery retail shops </li></ul></ul></ul><ul><ul><li>Internationally </li></ul></ul><ul><ul><ul><li>Regional and national importers </li></ul></ul></ul><ul><ul><ul><ul><li>High-end hotel chains </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Premium restaurants </li></ul></ul></ul></ul>
  20. 20. Competitive Strategy <ul><li>Marketing </li></ul><ul><ul><li>12% of consumers drank 88% of wine purchased in US </li></ul></ul><ul><ul><li>Identify the opinion leaders within this group </li></ul></ul><ul><ul><li>Enhance their knowledge and appreciation of Mondavi wines </li></ul></ul><ul><ul><ul><li>Tours of winery </li></ul></ul></ul><ul><ul><ul><li>Training sessions at fine restaurants and hotels </li></ul></ul></ul><ul><ul><ul><li>Magazines – “Bon Appetit”, “The Wine Spectator”, “Food and Wine” </li></ul></ul></ul><ul><ul><li>Electronic media </li></ul></ul><ul><ul><ul><li>Radio – 1998 </li></ul></ul></ul><ul><ul><ul><li>Television – 2001 </li></ul></ul></ul><ul><ul><li>Grow the customer base by removing wine’s mystery, while maintain the magic </li></ul></ul>
  21. 21. Competitive Strategy <ul><li>Organization Prior to 2001 </li></ul><ul><ul><li>Vice Presidents </li></ul></ul><ul><ul><ul><li>Production </li></ul></ul></ul><ul><ul><ul><li>Sales </li></ul></ul></ul><ul><ul><ul><li>Marketing </li></ul></ul></ul><ul><ul><ul><li>Finance </li></ul></ul></ul><ul><li>2001 Reorganization </li></ul><ul><ul><li>RMW Business Unit </li></ul></ul><ul><ul><li>Woodbridge Business Unit </li></ul></ul><ul><ul><li>Joint Ventures & Small Wineries Business Unit </li></ul></ul><ul><li>Executive compensation linked to amount BU return’s exceeded cost of capital </li></ul><ul><li>Objective </li></ul><ul><ul><li>Develop a clear and distinct competitive market position for each brand </li></ul></ul>
  22. 22. Going Public
  23. 23. SWOT - 1993 <ul><li>Strengths </li></ul><ul><li>Mondavi brand portfolio </li></ul><ul><li>Family-owned business </li></ul><ul><li>Weaknesses </li></ul><ul><li>Financial constraints </li></ul><ul><ul><li>Rapid expansion </li></ul></ul><ul><ul><li>Increased competition in Napa Valley </li></ul></ul><ul><ul><li>Phylloxera infestation </li></ul></ul><ul><li>Opportunities </li></ul><ul><li>Maintain ability to capitalize on future opportunities </li></ul><ul><li>Threats </li></ul><ul><li>200 new wineries in Napa Valley producing premium to ultra premium wines </li></ul><ul><li>Large companies with capital to cover replanting costs </li></ul>
  24. 24. Initial Public Offering <ul><li>June 10, 1993 </li></ul><ul><ul><li>Class A Common Stock </li></ul></ul><ul><ul><ul><li>Mondavi family - 10 votes per share </li></ul></ul></ul><ul><ul><li>Class B Common Stock </li></ul></ul><ul><ul><ul><li>Public – 1 vote per share </li></ul></ul></ul><ul><ul><ul><li>3.7 million shares at $13.50 </li></ul></ul></ul><ul><ul><ul><li>Raised $ 49.95 million </li></ul></ul></ul><ul><li>Post IPO Stock Price </li></ul><ul><ul><li>Days later - $ 8.00 </li></ul></ul><ul><ul><li>Six months later - $ 6.50 </li></ul></ul><ul><li>Stock Valuation </li></ul><ul><ul><li>Two other wine companies public </li></ul></ul><ul><ul><ul><li>Low end jug wine segment </li></ul></ul></ul><ul><ul><li>Uncertainty over phylloxera infestation </li></ul></ul><ul><li>Mondavi’s Response </li></ul><ul><ul><li>Educate the investors </li></ul></ul><ul><ul><li>Mondavi’s experience and know-how to build a strong, enduring business </li></ul></ul>
  25. 25. Strategy Execution
  26. 26. RMC History 1966-1980 Robert Mondavi Winery Founded 1970 1960 Woodbridge Winery acquisition Opus One JV established 1980 1966 1979 Robert Mondavi personal marketing efforts
  27. 27. RMC History 1980-1990 Vichon Winery Oakville, Napa Valley acquisition 1985 1980 1990 Byron Vineyard & Winery acquisition, Santa Maria Valley
  28. 28. RMC History 1990-1993 1990 1993 1991 1992 Natural Farming adopted Opus One Winery Opens RMC IPO
  29. 29. MOND Price History
  30. 30. Mondavi Brand Portfolio
  31. 31. RMC 2003 Financial Report
  32. 32. Fiscal Year 2003 (Ending June 30, 2003) <ul><li>Decrease in Net Income and Earnings per Share </li></ul><ul><ul><li>Net Income: $ 17.3 Mil from $ 25.5 Mil (FY 2002) </li></ul></ul><ul><ul><li>Earnings per Share: 1.06 from 1.56 (FY 2002) </li></ul></ul><ul><li>Restructuring charges: $ 22.2 Mil (0.85/share) </li></ul><ul><ul><li>Staff reductions </li></ul></ul><ul><ul><li>Grape contract buyouts </li></ul></ul><ul><ul><li>Wine inventory and fixed asset write downs </li></ul></ul><ul><li>Disposal of non-strategic fixed assets </li></ul><ul><ul><li>La Famiglia Winery (retain brand name) </li></ul></ul><ul><ul><li>750 acres of vineyard California Central Coast </li></ul></ul><ul><ul><li>Gains: $ 7.3 Mil </li></ul></ul>
  33. 33. FY 2003 Actions <ul><li>Stimulate Sales and Grow Market Share </li></ul><ul><ul><li>Increase efforts in trade promotion </li></ul></ul><ul><ul><li>Creation of new brands </li></ul></ul><ul><ul><ul><li>Woodbridge Select Vineyard Series </li></ul></ul></ul><ul><ul><ul><li>Papio – popular premium segment for the “adventurous and young at heart” </li></ul></ul></ul><ul><ul><ul><li>Discovery Series – for restaurant consumers seeking “something different” </li></ul></ul></ul><ul><li>Maintain brand pricing in this highly competitive environment </li></ul><ul><ul><li>Strong Wine Brands </li></ul></ul><ul><ul><ul><li>Mondavi wines are synonymous with quality </li></ul></ul></ul>
  34. 34. Financial Metrics
  35. 35. US Wine Market Percentage Market Share (Volume)
  36. 36. Sales By Geographic Region
  37. 37. Sales Volume (000,s l) per Brand
  38. 38. Sales Revenue per Brand
  39. 39. Total Cases (9 liter) Sold
  40. 40. Sales Rev - COGS Gross Profit - SG&A
  41. 41. EBIT - Interest - Taxes
  42. 42. Net Income
  43. 43. Earnings Per Share
  44. 44. The Future
  45. 45. SWOT - 2003 <ul><li>Strengths </li></ul><ul><li>Mondavi brand portfolio </li></ul><ul><li>Family owned </li></ul><ul><li>Professionally managed </li></ul><ul><li>Weaknesses </li></ul><ul><li>Weak US economy </li></ul><ul><li>Lower premium wine demand </li></ul><ul><li>Opportunities </li></ul><ul><li>Improve operating efficiencies </li></ul><ul><li>Expand market share </li></ul><ul><li>Threats </li></ul><ul><li>Oversupply of premium wines </li></ul><ul><li>Competition-new/current brands </li></ul><ul><li>Aggressive pricing </li></ul><ul><li>Competition for shelf space </li></ul>
  46. 46. Competition <ul><li>Focused Competitors </li></ul><ul><ul><li>Producing premium wines </li></ul></ul><ul><ul><ul><li>Kendall-Jackson – 1982 </li></ul></ul></ul><ul><ul><ul><li>Trinchero Estates – 1947 </li></ul></ul></ul><ul><ul><ul><li>Southcorp (Australia) – 2001 </li></ul></ul></ul><ul><li>Large Volume Producers </li></ul><ul><ul><li>E&J Gallo </li></ul></ul><ul><ul><li>Constellation Brands </li></ul></ul><ul><li>Beer and Distilled Spirits Producers </li></ul><ul><ul><li>Foster’s Group </li></ul></ul><ul><ul><ul><li>Diaego </li></ul></ul></ul><ul><ul><ul><li>Brown-Forman </li></ul></ul></ul><ul><ul><ul><li>Allied-Domecq </li></ul></ul></ul>
  47. 47. International Market Segmentation <ul><li>Countries that consume and produce significant amounts of wine domestically </li></ul><ul><ul><li>France </li></ul></ul><ul><ul><li>Italy </li></ul></ul><ul><li>Countries with significant levels of consumption, but no large local wine industry </li></ul><ul><ul><li>Switzerland </li></ul></ul><ul><ul><li>United Kingdom </li></ul></ul><ul><li>Countries that do not yet drink significant amounts of wine </li></ul><ul><ul><li>Asian countries </li></ul></ul><ul><ul><li>Developing countries </li></ul></ul>
  48. 48. Forward Looking Competitive Strategies <ul><li>Improve Operating Efficiencies </li></ul><ul><ul><li>10 % staff reductions – ($ 6 Mil annual savings in SG&A) </li></ul></ul><ul><ul><li>Reduce product costs by 10% in FY 2007 ($ 30 Mil annual savings) </li></ul></ul><ul><ul><ul><li>Reduce overhead costs </li></ul></ul></ul><ul><ul><ul><li>Streamline packaging and distribution activities </li></ul></ul></ul><ul><ul><ul><li>Increase production from Mondavi vineyards </li></ul></ul></ul><ul><li>Continue to Identify Non Strategic Assets for Disposal ($ 40 - $ 50 Mil book value) </li></ul><ul><ul><li>Re-deploy capital to meet long term strategies </li></ul></ul><ul><li>Improve Return on Invested Capital </li></ul><ul><ul><li>FY 2003 Actual: 4% </li></ul></ul><ul><ul><li>FY 2007 Goal: 9% </li></ul></ul>
  49. 49. Domestic Brand Labels
  50. 50. Robert Mondavi Winery Spotlight District Reserve Napa Valley
  51. 51. Robert Mondavi Private Selection
  52. 52. W oodbridge
  53. 53. Arrowood
  54. 54. Byron
  55. 55. Io
  56. 56. Opus One Baron de Rothschild Joint Venture
  57. 57. La Famiglia
  58. 58. Import Brand Labels
  59. 59. Sena Eduardo Chadwick Joint Venture
  60. 60. Arboleda Eduardo Chadwick Joint Venture
  61. 61. Caliterra Eduardo Chadwick Joint Venture
  62. 62. Luce and Lucente Frescobaldi Joint Venture
  63. 63. Danzante Frescobaldi Joint Venture
  64. 64. Talomas and Kirralaa Rosemount Estates Joint Venture
  65. 65. Audience Participation
  66. 66. References <ul><li>Bond, G., Porter, M. (2000). Robert Mondavi: Competitive Strategy. Boston: Harvard Business School Publishing. </li></ul><ul><li>Laube, J. (2003) Mondavi at the Crossroads . Available: http://www.winespector.com/Wine/Main/Feature </li></ul><ul><li>Mondavi, R. (1998). Harvests of Joy . New York: Harcourt Brace & Company </li></ul><ul><li>Roberto, M., (2002). Robert Mondavi & Wine Industry. Boston: Harvard Business School Publishing. </li></ul><ul><li>Silverman et al. (2001). Robert Mondavi Corporation. In Thompson, A., Strickland, A., Strategic Management: Concepts and Cases (pp. 247-262). New York: The McGraw-Hill Companies. </li></ul>
  67. 67. MOND Price History 1 2 3 4 5 6 7 8 9 10 11
  68. 68. MOND Price History La Famiglia di Robert Mondavi Frescobaldi family JV, Italy RM Private Selection - Coastal Sena luxury Chile wine – Ed Chad. JV Lucente Italian wine – Fresc JV La Famiglia Winery opens La Arboleda Winery opens 1 2 Ed. Chadwick family JV, Chile & Caliterra introduced Byron Winery opens 3 4 5 Luce Italian wine – Fresc. JV Io – Byron Danzante Italian – Fresc. JV 6 Arrowood Vineyard Winery acquisition To-Kalon project “first crush” Rosemount Estates JV established 7 1 2 3 4 5 6 7 Arboleda Wines – Ed. Chad. JV Arrowood Grand Archer – introduced La Famiglia winery sold 8 8 Tenuta dell’ Ornelia acquisition 9 Talomas Wine introduced, Rosemount JV 10 9 10 Caliterra Brand, Assets sold 11 11

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