King Power, Thailand’s duty-free monopoly at five major airports, is seeking to terminate its long-term concession contracts early, saying a collapse in Chinese tourism and the government’s scrapping of wine import duties have severely undercut sales and made its business unsustainable. Read More
Companies
Treasury Wine Estates has launched a A$15 million dedicated facility for low- and no-alcohol wine production in South Australia’s Barossa Valley, marking a major investment in the growing global demand for lower-alcohol alternatives. Read More
China’s leading wine importer ASC Fine Wines has launched a sweeping strategic overhaul, introducing a direct-to-consumer membership club, custom brand solutions, and a dedicated logistics partnership, as the company returns to the control of its founding St. Pierre family following a completed share transfer from Japan’s Suntory Group. Read More
Changyu's General Manager characterised the industry’s woes with three “cliff-like” declines: in consumer sentiment, in consumption occasions, and in channel momentum. Read More
But unlike the 2012 “Eight-Point Regulation” that once gutted the sector, industry veterans say this round of restrictions is unlikely to leave lasting scars. Read More
Treasury Wine Estates named Sam Fischer as its next chief executive officer, replacing Tim Ford after a five-year tenure that saw the company navigate pandemic disruptions, trade tariffs, and a strategic overhaul of its wine portfolio. Read More
The price of Feitian Moutai — long considered the “gold standard” of China’s alcohol market — is feeling the chills of China's cooling business environment, as its price drops to a four year low. Read More
LVMH will cut 1,200 jobs—about 12% of its global workforce—at its wine and spirits division Moët Hennessy. This follows similar move by Remy Martin. Read More
Accolade Wines has completed its merger with Pernod Ricard’s wine business to form a new global wine company named Vinarchy and will begin phasing out around 50 brands over the next two years, the company confirmed. Read More
Boidevezi brings more than 20 years of leadership experience at the LVMH-owned spirits and wine house, having most recently served as President of the Asia Pacific Domestic Region, President of Global Travel Retail and President of Private Sales. Read More