Updated Aug 13, 2026 – 3.18pm, first published at 10.12amTreasury Wine Estates says it is having early success in stamping out rogue distributors who were selling off its flagship Penfolds brand in China at a significant discount, restricting the sale of some products in the country entirely in the hope of stamping out the long-running issue.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Treasury Wine’s China crackdown shows promise despite $1b loss
The country’s largest listed winemaker does not expect a turnaround until 2028, with performance at its flagship brand offset by poor sales in North America.
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