Treasury Wine Estates plans to increase exports of Bin and Icon wines to China post-tariff removal, targeting lower-priced bottles.

Treasury Wine Estates, the maker of Penfolds wines, plans to redirect some of its Bin and Icon wines to China once Beijing removes import tariffs on Australian goods. China was previously a huge market for the company, accounting for 30% of their earnings before levies were imposed. The company anticipates a rapid expansion of exports once the tariffs are lifted, focusing on lower-priced bottles as part of their strategy.

February 14, 2024
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