The chief executive of the $10 billion Penfolds owner will visit China in March as he presses on with the company’s US and Asian market growth strategy.
The rumblings of a global recession may be getting louder but the boss of Treasury Wines Estate remains bullish about the company’s prospects.
Penfolds managing director,Tom King,is confident the made-in-China range will be a hit despite the slowdown in the country’s economy.
Treasury Wine Estates’ prized Penfolds brand is world-famous. But with the winemaker still shaking off China’s tariffs,are the company’s shares still a good investment?
The winemaker’s chief executive has outlined exactly which brands Australian consumers will be paying more for in the new financial year.
The winemaker has successfully stopped an alleged copycat brand from registering Chinese trademarks.
Treasury Wines’ strategy to meet sidestep steep tariffs and satisfy Chinese demand for Penfolds is to release a new version of the wine made inside China itself.
Rich lister Gerry Ryan,who made his fortune with Jayco caravans in Dandenong,is expanding his hospitality empire with the launch of Hubert Estate at the historic St Hubert winery.
Treasury Wine Estates is looking to meet Chinese appetite for the famous wine by growing the grapes in France as heavy import duties hinder Australian Penfolds from reaching China’s shores.
At up to $310 a bottle it is not the chardonnay drop Kath and Kim would have opened for their nightly ‘wine time philosophy’ sessions in the backyard at Fountain Lakes.
Treasury Wine chief executive Tim Ford has signalled the Australian winemaker may be forced to hike prices on some of its products amid rising inflation.