Penfolds Grange 2010 was officially launched in London yesterday as part of the new Penfolds Collection, in a move designed to consolidate the brand's portfolio into one annual release.

The new release is the third Grange release in eighteen months following on from the 2008 in 2012 and the 2009 Grange earlier this year. Significantly, the 2010 has come out at £460 per bottle – 15% cheaper than the release price of the comparable 2008 Grange.

Speaking to Decanter from New York, head winemaker Peter Gago described the 2010 Grange as ‘an outstanding vintage which compares to the 1990, 1976 and 1955’.

‘But that’s only my personal opinion,’ he said. ‘We’ll have to see where it ultimately sits in the Penfolds Grange pantheon’.

The launch has been largely welcomed by merchants based on early reports of the wine’s quality, though some are exercising careful caution.

One London merchant said, ‘it’s clearly a great vintage and a big improvement on 2009. So we will be taking our allocation and there will be demand. But we don’t see it selling out overnight.

Also released are 11 other wines from the new Penfolds Collection, which includes a clutch of 2012 including Yattarna, Bin 707 Cabernet Sauvignon, RWT Barossa Valley Shiraz and the Bin 389 Cabernet Sauvignon 2012.

The Penfolds Collection brings together the release of the bin series and the luxury collection, formerly released separately in March and May.

Gago has welcomed the move, instigated by new CEO Michael Clarke who joined Penfolds earlier this year following the resignation of David Dearie. ‘I have been urging this change of release date for fourteen years, so I’m delighted we’ve been able to achieve it,’ says Gago.

The 2010 vintage is the 60th consecutive release of Grange, and also marks also 170th anniversary of Penfolds itself.