After previously adjusting its earning forecast from 10-15% down to 5-10%, the Australian wine giant Treasury Wine Estates has now said the forecast will no … Read More
China
The spirits giant Diageo estimated that the fast-spreading COVID-19 disease could shave off up to £325 million of net sales for the group, as the virus outbreak forced many restaurants and bars to shut doors across Greater China region. Read More
China’s wine market in 2019 suffered a huge blow as latest figures released by the country’s drinks trade body showed that wine imports during the year slipped to the lowest level since 2017, as a result of the country’s slowing economy and US-trade war. Read More
Australian wine exporters to China have reported dramatic drops as much as 90% in the first two months of the year, due to the fast-spreading Covid-19 (coronavirus). Read More
The 48-year-old Chinese man infected with the fast-spreading novel coronavirus or Covid-19 has recovered and been discharged from a hospital in Bordeaux after first being diagnosed on January 24. Read More
For many wine merchants hoping for a recovery in 2020 after sales slump in 2019, the hope is completely dashed, as the whole country’s economic growth is expected to be undercut significantly by the deadly coronavirus. Read More
Wine Australia's CEO Andreas Clark warns of the impacts of the deadly coronavirus on sales particularly to its most profitable market China in the trade body's latest export report, as China struggles to contain the virus that has infected close to 37,000 and killed over 800. Read More
Australian wine giant, Treasury Wine Estates, and Baron Philippe de Rothschild have ended their partnership, which gives TWE exclusivity to import and distribute the latter’s wines including volume-driven brand Mouton Cadet for China, TWE has announced. Read More
Craig Aldous, CEO of Summergate Fine Wines & Spirits, has resigned and departed the company, only after 15 months on the job, Summergate's parent company Woolworths Group announced yesterday. Read More
The Shandong High Court upheld previous trial court decision handed down last July that found Yantai Bai Qi Wine Company infringed legal intellectual property rights of Bordeaux, and engaged in unfair competition by selling fake Bordeaux wines. Read More