Treasury Wine Estates said it is now “unlikely” to see a near-term improvement in sales in the United States and China - its two largest markets - and will cut hundreds of thousands of cases of shipments as inventories build up and pricing pressure intensifies. Read More
USA
The Penfolds owner freezes its shares ahead of a crucial market update, following a A$687 million U.S. impairment and weakening demand in China.
Read More
Treasury Wine Estates’ shares fell to their lowest level in a decade last week after the company announced a A$687 million write-down on its U.S. operations. Read More
Vino Joy News uncovers the identity behind California’s latest wine world intrigue — and why a biotech magnate is swapping peptides for Pinot in Napa and Sonoma. Read More
U.S. wine exports to Canada fell 93% in April, the steepest year-on-year drop in more than two decades, as Canadian provinces pulled American alcohol from store shelves in response to U.S. tariffs. Read More
A British man accused of orchestrating a nearly US$100 million wine investment scam will be extradited to the United States to face charges, a London court ruled this week. Read More
Sotheby’s has released its 2024 Wine & Spirits Market Report, showing that while the United States recorded impressive gains—overtaking Hong Kong in annual wine sales for the first time—Asia continues to hold its ground. Read More
The Bourgogne Wine Board (BIVB) warned the new tariff could cost the region’s producers up to €100 million (about US$108 million) in lost export revenue, dealing a serious setback in what has long been their largest overseas market. Read More
Japan’s sake exports grew 6% in 2024, driven by strong demand in North America and Europe, while sales in Asia, its largest market, declined. Read More
Shares of major alcohol companies fell after U.S. Surgeon General Vivek Murthy linked alcohol consumption to cancer risks and called for warning labels on alcoholic beverages. Read More