During the early years, Bodegas Lustau operated as an ‘Almacenista'. The Lustau family began bottling their own sherries and exporting by 1950. In the 1980s they expanded their range and introduced the Almacenista range concept of buying and maturing casks from small bodegas to share excellent quality names and styles with enthusiasts around the world.

In 1990 the winery was bought by the family-owned Louis Caballero group. Bodegas Lustau is considered a world-class benchmark for top-quality wines. Lustau produces all styles of sherry, from Manzanilla through to Pedro Ximénez, as well as special bottlings, single cask, VOS and VORS sherries. The En Rama range, produced from select barrels from each of the three towns, is a highly anticipated release each spring.

Lustau has, over the years, won multiple medals and trophies, including ‘Best Spanish Winery' and ‘Best Sherry Producer' at the IWSC and the Len Evans Trophy for consistency (won in 2011 and 2016) at the IWC.

Current cellar master Sergio Martínez took charge of the winery's oenological team in 2016, after more than 14 years' worth of experience with Lustau. Sergio has been awarded the ‘Best Fortified Winemaker' trophy by the International Wine Challenge three years in a row, following in the footsteps of the late Manuel Lozano who had won this award seven times.

In 2022, Lustau celebrated its 125th birthday with a special release of three sherries in its Anniversary Collection, including a Manzanilla Pasada Papirusa, Amontillado Solera del Castillo, and a Vintage Sherry Añada 1996.