What's the difference in Johnnie Walker "Gold Label Reserve" & "Gold Label 18 years?
 

Could someone who is knowledgeable explain to me the difference between JW "Gold Label Reserve" and JW "Gold Label 18 years" please?

I bought one of the bottles this time from the Sri Lankan duty free for just $45 which was just a mere $3 difference to the JW Green Label which was $42.
Is "Reserve" a lower aged version of the "Gold Label 18years" ? Why is it cheaper than the 18years gold label?

Below are some pictures of the two versions taken from Wikipedia.

http://upload.wikimedia.org/wikipedi...el_Reserve.jpg

http://upload.wikimedia.org/wikipedi...Gold_Label.jpg

What's the difference in Johnnie Walker "Gold Label Reserve" & "Gold Label 18 years?
 

An explanation to your question is quoted below by Diageo's Nick Morgan:

"The existing Johnnie Walker Gold Label 18-year-old and Johnnie Walker Green Label will begin to be phased out in the U.S. market during the summer of next year (the phase-outs will begin this summer in most other global markets). In their place, Diageo will introduce two new labels that have tested successfully in Asia—Johnnie Walker Gold Label Reserve (selling for around $63 a 750-ml.) and Johnnie Walker Platinum 18-year-old (around $110).

Diageo’s head of whisky outreach Nick Morgan told Shanken News Daily the revamp was meant to spread out the Johnnie Walker portfolio’s pricing in order to better motivate consumers to move up the brand ladder. “As we reviewed the brand offering, we found that the range wasn’t meeting consumer needs and providing the best consumer journey through the range as far as taste profiles and price points,” Morgan said. “Another reason for this change is to try and have, as far as is possible, a consistent range of prices and options for consumers wherever they go in the world—which, to be honest, we haven’t had heretofore.”

The new Johnnie Walker Gold Label Reserve is based on the same Clynelish single malt as Gold Label 18-year-old, but it has a less peaty profile and will sell for around $20 less. Removing the age statement from the Gold offering also enables Diageo greater flexibility in crafting the blend. Platinum 18-year-old, meanwhile, has a more intense, peaty Speyside character. The two new variants will sit between Black Label (around $40) and Blue Label (around $210) in the portfolio. “You can see how the ladder then stretches out,” Morgan said."