Consumer
Penfolds Maker Sees Strong Luxury Wine Demand as Revamp Expands
- Treasury flags extra restructure after plans to sell portfolio
- Consumption robust in Hong Kong, Thailand, Taiwan, US, China
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Treasury Wine Estates Ltd. flagged robust demand for luxury wine across Asia and the US, with the maker of the Penfolds brand signaling a further restructuring of its business after a strategic review.
The Australian vintner will focus on becoming a luxury wine company, Chief Executive Officer Tim Ford said during an investor call after the release of its full-year results. More than 75% of earnings are already derived from its luxury brands, he added.