Italy-based wine establishment Marchesi de' Frescobaldi is reportedly planning to establish a new winery for the production of its Masseto Super Tuscan wine.
Work on the proposed winery is slated to begin in early 2015, The Decanter.com reported.
The company also intends to move into Chianti Classico, in order to expand its wine business.
Commenting on the development, Marchesi de' Frescobaldi chief executive Giovanni Geddes de la Filicaja was quoted by decanter.com as saying, "It's an area that we would like to go into, but we would be looking at an existing brand,' he said. 'Chianti Classico has value only if there is a strong brand."
Masseto, which is the second wine of Tenuta dell'Ornellaia, is sold at a higher price than the estate's namesake label, through Place de Bordeaux since 2009.
Italian wines are priced low when compared to wines from other French regions such as Bordeaux and Burgundy, according to fine wine market observers.
