Treasury Wine Estates (TWE) has reported a 34.7% increase in sales revenue for its flagship brand, Penfolds, in the Asian market for fiscal year 2024, driven by strong growth in Thailand, Hong Kong, and Taiwan, as well as a recovery in mainland China during the fourth quarter. Read More
Australia
China's imports of Australian bottled wine continued to surge in July, recording a staggering year-on-year increase in both volume and value. However there are early signs of a potential plateau following the post-tariff rebound earlier this year. Read More
Penfolds has introduced its 2024 collection of latest vintage releases in both Beijing and Hong Kong, including a premium release named Bin 180, priced at RMB 7,288 per bottle, surpassing its iconic Grange. Read More
Treasury Wine Estates, the parent company of Penfolds, is looking to sell off its lower-end wine range including Wolf Blass, Lindenman’s amid declining global wine consumption. Read More
Australian wine's re-entry into China has bouyed the whole country's wine exports to a record level in recent years. However, the industry association cautions depletion in the Chinese market due to decreased wine consumption. Read More
Australia's surge is a welcome news but one of the top 50 wine importers in China told us 2024 is the worst year he has ever encountered in his professional life. Our full analysis on H1 wine import data. Read More
Australia’s second-largest wine group, Accolade Wines, will merge with Pernod Ricard’s Australian, New Zealand, and Spanish wine businesses for an undisclosed amount. The deal aims to strengthen the combined entity's position amid industry challenges facing wine. Read More
Australian Vintage, the third largest wine producer in Australia, is trying to revive its China market after its biggest shareholder from China suffered a AUD 7 million loss following the company' resumed trading. Read More
Just two months after China lifted punitive tariffs on Australian wines, Australia has quickly regained its position as China’s second-largest wine exporter, sparking hopes that it may soon become the top exporter to China again. Read More
Chinese Premier Li Qiang made a historical visit to Australia's popular winery Penfolds, raising hope that Australian wine exports to China could soon bounce back to AU$1 billion before relations soured. Read More