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‘Taking control’: Penfolds cracks down on Chinese grey market amid $1.1b loss
The wine giant is getting out of cheap wine, doubling down on Penfolds’ status as a luxury brand, and trying to figure out what to do with its US business.
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afr.com
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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Treasury Wine scraps dividend, warns of sluggish growth after $1b loss
Profits at the flagship Penfolds brand declined by 15 per cent in a difficult market where global wine consumption is falling.
