Australian wine giant Penfolds has confirmed its plans to establish a vineyard and winery in China, leading Chinese wine news portal Vino Joy is reporting.
The move would mark a significant step in Penfolds' already advanced project in China. But the timeline and location for the project is unclear.
The announcement came on the heels of two China-produced wines launched in collaboration with local partners coming as tariffs on Australian wines in China were recently ended.
This news was confirmed by Treasury Wine Estates, the owner of Penfolds, in reply to a query from Vino Joy News.
“As TWE has spoken about previously, we have ongoing interest in seeking investments in supply assets that support our luxury brands," the company said.
"China remains a highly attractive long-term growth opportunity for Penfolds and will continue to be an area of interest for us.
“While we continued to explore opportunities, we currently have no confirmed plans.”
Regarding the location selection for Penfolds’ winery in China, Jack Wu, general manager of Penfolds China, mentioned Ningxia and Yunnan - regions where Penfolds already collaborates with local wine producers.
He did not specify if this means Penfolds will build wineries in both regions or choose one.
China has become central to Penfolds’ “multi-origin” product strategy.
Penfolds has affordable and high-end Chinese wines, including CWT 521, a very impressive blend of 82% cabernet sauvignon from Shangri-La in Yunnan and 18% marselan from Ningxia.
No comments:
Post a Comment