Changyu Pioneer Wine Company, China’s largest wine producer, reported a nearly 40% decline in net profit for the first half of 2024, reflecting the ongoing challenges in the country’s wine market. Read More
China
Leading French alcohol industry associations have voiced strong protest over the "unjustifiable" duties on EU brandies and urged European and French authorities to resolve the issue within two months. Read More
In the exclusive interview with Xing Wei MW, the latest and youngest MW in China, he opens up about his past struggles, the arrogance and prejudice he once saw as the industry’s biggest challenges, why he considered leaving wine industry the moment he achieved the MW title, and what ultimately made him stay. Read More
China’s Ministry of Commerce announced Tuesday that it will not impose immediate anti-dumping duties on European Union brandy imports, despite finding that the products are being dumped in the Chinese market with margins ranging from 30.6% to 39.0%. Read More
Penfolds has officially confirmed its plans to establish a vineyard and winery in China, marking a significant step in its localization strategy. However, the timeline and location for this ambitious project remains unclear. Read More
A prominent wine storage company in China’s southern Guangdong province is at the center of an unfolding crisis, with multiple importers reporting their inability to retrieve wine stocks amid the company’s mounting legal troubles and crippling debts. Read More
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
Former Hong Kong Chief Executive Leung Chun-ying has called for all official and private events during National Day celebrations to exclusively serve Chinese wine, emphasizing that not doing so would be "unacceptable and inexplicable." Read More
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
LVMH dominated the top 10 list, while China's Changyu came in fifth on the world's top 10 most valuable Champagne and Wine brand list. Read More