Penfolds Tightens Grip on China Market | Sydney News

Treasury Wine Estates, the powerhouse behind Penfolds, is pulling back hard in China to crush the grey market and protect its luxury brand—deliberately cutting off global wholesalers to reset pricing and control distribution. Despite a dip in earnings, demand for premium Penfolds reds remains fierce among affluent drinkers. The company’s broader strategy? Shrinking its portfolio by offloading mid-tier brands and slashing operations—including leaving US vineyards fallow—to focus on high-value segments. Amid falling global wine consumption, Treasury is betting that tighter control, smarter cuts, and a leaner lineup will boost long-term value—and investors are already cheering, with shares rising despite the pain. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f5b4a540875018de