M by Michael Mondavi Wine
You can pick up M by Michael Mondavi this fall for a steep $199. In a recent interview with Steve Heimoff, Mondavi explained how he reached this price. He explained that his team bought a bunch of top cult wines and did a blind tasting asking themselves how much they would pay for each wine. Because their wine came out strong they prices it below some of the super-pricey cult wines and above some of the ones it showed better than. Of course the costs of managing the 15-acre vineyard were also a factor.
Heimoff's interview also reveals that Mondavi has learned his lesson about rapid expansion. He says that at his Folio Wine import and production company they have just two rules, only work with those they respect and want to spend time with, and only sell wines they would like to serve to family and friends.