Treasury Wine to lift Penfolds prices as China loosens tariffs

News Snapshot:

Treasury Wines declined to comment on the price rises – which will be on Penfolds’ Bin 389, 407, St Henri and Grange labels – but said demand exceeded supply globally. “With demand for the Penfolds Bin and Icon portfolio expected to exceed availability in the short term, [Treasury Wine] will also commence working with its global customer base to finalise price increases across the Bin and Icon portfolio,” it said, adding that prices would rise not only in China but across all export markets. “Penfolds will retain its standardised global pricing structure in order to ensure long-term brand health and...