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
Penfolds
The deal, valued at RMB 130 million (US$17.9 million), is TWE's latest strategic push to expand local wine production in China. Read More
This marks the first publicly reported wine smuggling case involving extradition in China. Read More
Australia's Minister for Trade and Tourism, Don Farrell, visited Treasury Wine Estates' office in Shanghai, in a strong show of force to boost wine cooperation between China and Australia following tariff removal in late March. 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
Set for Sept. 29 this year, the Mid Autumn Festival typically drives significant wine demand through gifts and banquets. However, importers across China’s major wine-consuming regions who talked to us are reporting a more subdued market, even though some categories are defying the broader downturn. Read More
Robert Foye, CEO of Accolade Wines, Australia’s second-largest wine producer, has announced his departure from the company. 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
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