Australian wine giant Penfolds is facing a pricing crisis in China, with its wines appearing at drastically different price points following the lifting of tariffs on Australian wine. Read More
Australian wine
Australian wine exports have reached a three-year high, thanks to the re-entry into its most lucrative market China, according to the latest data released by Wine Australia. However, the trade association also cautions if the growth can sustain. Read More
However, TWE’s performance will depend on the economic environment and geopolitical dynamics in key markets, including China. Read More
TWE has agreed to a AU$65 million (US$43.47 million) settlement to resolve a class action alleging the company breached its continuous disclosure obligations and provided misleading earnings guidance following a downgrade in 2020. Read More
Imports of Australian wine saw a significant month-on-month decline of as much as 60% by value. The sharp decline comes after months of steady restocking by importers and is further complicated by sluggish sales in the domestic market, highlighting broader challenges for the industry. Read More
Robert Foye, CEO of Accolade Wines, Australia’s second-largest wine producer, has announced his departure from the company. 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
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
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
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