The maker of Penfolds Grange, Treasury Wine Estates has noted an interim draft determination by the Chinese Ministry of Commerce that would reopen the China market to Australian wine exports. The determination outlines a proposed removal of the current tariffs which have crippled what was once a $1.2 billion export trade with China – reducing…
Treasury Wine Estates, the maker of Penfolds wine, is preparing to re-enter the Chinese market as soon as the market reopens as expected to Australian exports. The company, which reoriented itself towards luxury and premium wine brands to make up for the loss of profits from China, told investors that it expected China to release…
Penfolds maker Treasury Wine Estates (TWE) has secured a leading position in the US luxury wine market with a surprise US$900 million acquisition of US luxury wine business DAOU Vineyards. The purchase, which will be funded by an Au$825 million equity raising, brings the US’s fastest growing luxury brand into the TWE global stable which…
Treasury Wine Estates the maker of Penfolds has welcomed moves by China to review its import tariffs slapped on Australian wine in 2020 and revealed how it will re-enter the critical growth market. The company said that it has maintained its commitment to Chinese consumers throughout the period including experienced sales and marketing leadership in…
Penfolds’ manufacturer Treasury Wine Estates is reaping the benefits of its switch out of commercial wine production to focus on expanding its sales of luxury and premium wines such as Penfolds Grange. Outgoing Chairman Paul Rayner told the company’s annual general meeting that the premiumisation trend where commercial wine sales were soft remained strong across…
The maker of Penfolds wines Treasury Wine Estates gone live with the largest winery solar installation in Australia at its Barossa Winery and Production Centre in South Australia. Commissioned 12 months ago and now operational, there are almost 6,000 solar panels at the Barossa site alone, putting wines including Penfolds, Wynns, Squealing Pig and Pepperjack…
Treasury Wine Estates, the maker of Penfolds, is accelerating its move towards premium and luxury brands, announcing adjustments to its operating model and organisational structure. As well as announcing a stronger focus on ‘priority brands’ Wynns, Pepperjack, Squealing Pig and 19 Crimes, the company also revealed it would close a Victorian winery used to make…
Luxury and premium wine maker Treasury Wine Estates is again taking the microscope to its operations and plethora of wine brands seeking efficiencies and potentially selling off more wine brands. The company has been undergoing a process of what it calls premiumisation since the shock of the imposition of import tariffs by China on its…
