Treasury Wine opening wine bars in China
Treasury Wine opening wine bars in China
Mar 24, 2013 6(WAToday) - Treasury Wine Estates, the world's largest pure play winemaker, is toying with the idea of opening bars, restaurants and entertainment venues in China as part of a new strategy to win over drinkers in the region.
An online article in the Wall Street Journal quotes Treasury Wine Estates chief executive David Dearie as speculating that the Australia wine producer plans to unveil its own wine outlets across China in the next three to five years.
Last week Mr Dearie and the Treasury Wine Estates board conducted a tour of China and Singapore to get a better understanding of the Asian market, which is expected to grow at double-digit rates in the coming years while North America and Europe struggle in the face of a wine glut and recessionary conditions.
Comments