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Treasury Sees Premium Wine Demand Solid Across Key Markets

October 18, 2022

After posting sales of A$2.5 billion ($1.7b) in its fiscal year through June, Treasury Wine Estates says it’s off to a solid start in its new fiscal year, with demand for premium and luxury wine remaining consistent across its key markets in the three months through September.

Treasury CEO Tim Ford said the group remains “confident that the strengths of our brand portfolios, the historic resilience of the category through past economic downturns and the flexibility of our business model leaves us well placed to react to any changes that may arise,” adding, “Pleasingly our northern hemisphere vintages, including California and France, are also progressing in line with our expectations.”

In particular, TWE is aiming to continue the momentum behind its priority brand portfolio in the U.S., which includes Beringer, Stags’ Leap, Matua, and 19 Crimes and saw net sales grow 15% in the year through June. Further expanding recent acquisition Frank Family Vineyards is also on the docket. “We look forward to executing on our growth plans for this brand, focused on increasing supply and expanding distribution,” said Ford, who noted that the group will also continue to pursue “innovation and complementary M&A that will enhance our brand and asset portfolio.” SND recently caught up with TWE Americas president Ben Dollard.—Daniel Marsteller

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