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Interview, Part 2: TWE Americas President Ben Dollard

April 8, 2025

In the second part of our interview, Treasury Wine Estates Americas president Ben Dollard discusses the overall wine market outlook and prospects for the company’s luxury portfolio—which now accounts for just under 60% of revenue—as well as the demographics and tourism program underpinning the growth of the Daou brand.

SND: How is the broader TWE Americas’ luxury stable positioned for growth?

Dollard: We’re proud of how our portfolio has evolved over the past number of years, and it’s been very much focused on where we see the consumer engaging. Daou, Penfolds, Beaulieu Vineyard, Stags’ Leap, Beringer Knights Valley, and Frank Family are all incredible experiences that are rooted in estate properties, and all very different in terms of the type of consumer we’re engaging with. I think the portfolio is well structured right now in that each brand has a very distinct and important role to play.

SND: How do you see the bigger picture for the wine market evolving?

Dollard: Some of the challenges have been well-documented. But we’ve got a stable of brands that are really healthy. Certainly to help the next generation of consumers engage with wine is a big area of focus for us. But also continuing to cater to the loyal consumers who’ve put our brands on the map is equally important.

Regarding tariffs, we are a global business and we operate in a lot of geographies around the world. But with Treasury Americas the majority of the wine that we sell is made in the U.S. That gives us very clear marching orders. Even on a brand like Penfolds, of course it’s an Australian wine, but we also have a U.S.-made portfolio under Penfolds, so I think we’re well situated.

SND: How does Daou’s hospitality experience at the winery play into your plans for continuing its upward trajectory?

Dollard: Daou Mountain is very much the heartbeat of the brand, and it’s really the essence of (founders) Danny and Georges’ vision for Paso. As we see the opportunity to bring more consumers in, the winery plays an important role. It’s an incredible experience, and it’s situated between two big metropolitan areas in Los Angeles and San Francisco. It’s also an incubator in terms of new product development.

That said, not everybody can come to Paso Robles. So Daou has done an incredible job in taking that story out into the marketplace. And even beyond Daou in our portfolio, how we ignite these experiences and how we think about bringing those stories to local markets is a big area of focus for us.

SND: What are the key demographics driving Daou?

Dollard: There’s a broad array of consumers of Daou. Some have been around the brand for a long time and are very loyal. The flip side of that is when you go to Daou Mountain and you experience a Saturday afternoon and you look around the winery. There are consumers from all walks of life, both new consumers to wine and more seasoned wine drinkers. Our industry has talked a lot about how we can continue to demystify wine and make it a relevant part of people’s lives. That’s happening at Daou.

Rank	Brand	Origin	2023	2024	Percent Change¹
Treasury Wine Estates—Top 12 Brands in the U.S. (Thousands of 9-liter case depletions)
1	19 Crimes	Australia/California	2,081	1,766	-15.1%
2	Matua	New Zealand	841	856	1.8%
3	Daou	California	694	725	4.5%
4	Lindemans	Australia	549	488	-11.0%
5	Sterling Vintners Collection	California	434	388	-10.5%
6	Frank Family Vineyards	California	159	166	4.3%
7	Gabbiano	Italy	160	164	2.7%
8	The Pessimist	California	144	127	-11.9%
9	Stags’ Leap	California	128	126	-1.5%
10	Beringer Brothers	California	110	105	-4.8%
11	St. Huberts	California	89	79	-10.6%
12	Beringer Knights Valley	California	63	67	6.3%
Total Top 12²			5,451	5,058	-7.2%
1 Based on unrounded data. 2 Addition of columns may not agree due to rounding. Source: IMPACT DATABANK © 2025