Liv-ex, the global market place for fine wine specialists, has released its report on the fine wine market for 2013. Find out the key trends, the issues and how the market is set to decline for a third unprecedented year. Subscribers can download the special report.
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Treasury Wine Estates (TWE) has announced today that its executive leadership team, which included five brand business unit leaders and four regional business units, will be reduced to three roles consisting of one chief marketing officer and two regional chief commercial officers, effective immediately.
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Treasury Wine Estates has signed a further deal this week with Accolade Winesto provide packaging and production services for several brands based in California, including its Geyser Peak, Atlas Peak and XYZin brands.
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The hangover continues for Treasury Wine Estates (TWE) following its AUD $160 million write down earlier in the year; TWE now faces a lawsuit by Melbourne City Investments and second potential class action lawsuit funded by IMF Ltd and Maurice Blackburn lawyers who, to date, have only publicised their potential intent to undertake a shareholder class-action case against TWE but who have not, at this stage, commenced any legal proceedings.
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If spirit companies are to generate growth in a depressed market they are better to concentrate on protecting margins than trying to drive volumes, according to Rabobank, financial experts for the drinks industry.
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Norwich-based Naked Wines has announced it has secured a third round of funding of £6.4 million from German WIV Wein International AG, a founding shareholder in the company, bringing the total amount invested by WIV in the online retailer to £15.4 million.
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Treasury Wine Estates has seen annual net profits slide by 50% due to one-off charges on unsold wine in the US, but sales in the UK have shown signs of recovery in recent months.
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Treasury Wine Estates has come under pressure to justify its continued presence in the Americas after announcing it will be forced to spend tens of millions of dollars to destroy excess wine in the US.
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With operations in the UK, US and Australia, Naked Wines' Rowan Gormley and Eamon Fitzgerald look at further growth with Richard Siddle
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