China’s eastern Jiangsu province has dismantled what the policed described as a “mega cross regional” fake wine production ring, seizing over 8,000 bottles of counterfeit Penfolds worth over RMB 10 million (US$1.6 million). Read More
Australia
Treasury Wine Estate (TWE), the parent company of popular Australian wine brand Penfolds, revealed its revenue in mainland China has plunged by more than 97% or about AU$76.2 million from July to December 2021 due to China’s crushing anti-dumping tariffs. Read More
Customs officers in Shenzhen Bay Port have seized RMB 1.5 million (US$ 236,637) worth of fine wines smuggled from tax-free Hong Kong to mainland China, mostly consisting of Australian wines. Read More
China’s harsh anti-dumping tariff imposed on Australian wine has cost Australian wine industry AU$ 1 billion, according to the country’s wine trade body, resulting in a 30% decrease in Australia’s overall wine exports last year. Read More
Secondary market activity for Australian wine experienced significant decline as a result of Chinese anti-dumping tariffs, as reported by Liv-Ex. Read More
Treasury Wine Estates has confirmed to Vino Joy News that it is bottling its popular Penfolds Max's in China and the range will be launched this month for Chinese New Year. Read More
The Australian wine giant Treasury Wine Estates (TWE)’s plan to make Chinese Penfolds to bypass China’s punitive tariffs on Australian wine was met with doubts and skepticism from Chinese analysts and industry insiders, in a recent article published by state-owned media. Read More
Australian wine giant Treasury Wine Estates (TWE) announced that the company has transitioned AUD$1.4 billion (US$1 billion) of financial loans into Sustainability Linked Loans. Read More
Shaw + Smith’s founders, Martin Shaw and Michael Hill Smith MW, and joint CEOs Adam Wadewitz and David LeMire MW, have bought Blewitt Springs vineyard in McLaren Vale to make three single vineyard wines, the winery has announced. Read More
Penfolds, the Australian flagship brand from Treasury Wine Estates, is now joining the emerging non-fungible token (NFT) trend by launching its first NFT. Read More