Chinese wine producer Château Changyu Moser XV is targeting the UK for expansion, with a focus on the on-trade and independent sector.
Chinese wine producer Château Changyu Moser XV is targeting the UK for expansion, with a focus on the on-trade and independent sector.
China has agreed to halve its tariffs on Scotch whisky in a move which is set to allow distillers to compete more effectively in this fast-growing market (Scotch whisky’s tenth-largest by value). Yesterday, after a conversation with UK Prime Minister Keir Starmer, Chinese president Xi Jinping agreed to drop tariffs from 10% to 5%. The deal, according to government, is set to…
Global beverage alcohol volumes are set to fall more sharply than expected in 2025, according to a new mid-year forecast from the IWSR, which highlights significant downturns in beer consumption across the US and China. Meanwhile, new UK data shared with Drinks Retailing reveals further pressure on wine and spirits, but renewed momentum for cider and RTDs. In its first-ever mid-year…
Treasury Wine Estates has pulled its earnings guidance and paused a A$200 million share buyback in response to weak sales in China and distribution issues in the U.S. Treasury explained that sales of Penfolds in China were much weaker than expected, which it said was due to changing alcohol consumption habits. The company continued, “If the performance trends…
Treasury Wine Estates has announced strong financial results for the year ending 30 June 2025, led by growth from the Penfolds portfolio division. The business revealed that its earnings before interest and taxes (EBITS) increased by 17%, with a margin of 26.2%, to $770.3m during that time. Meanwhile, its earnings per share (EPS), before material items and SGARA, increased by…
New analysis from the IWSR, published yesterday, revealed that total beverage alcohol (TBA) volumes worldwide dipped by 1% in 2024. This was led by a 3% decrease in the US market and a 5% drop in China, with all categories reporting declines in China and all but RTDs following a downward trend in the US. The IWSR named political and…
The Wine and Spirit Education Trust (WSET) has opened its first international office in response to a high demand for wine and spirits education globally. The new WSET Asia Pacific is based in Hong Kong, in response to high demand across Greater China, according to the company. WSET is the largest global provider of wines and spirits qualifications, with a record number of candidates during…
Uncertainty over exchange rates and trading relationships with Europe could open the door for China to seize a far greater share of the UK wine market, according to arguably the country’s leading buyer. Andrew Shaw, who is now in charge of buying wine for the Conviviality group – including Bargain Booze, Wine Rack, Bibendum PLB and Matthew Clark, among others – said he “firmly believes…
