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Treasury Wine Estates announces restructure amid claims it will try and stay meaningful in China

Treasury Wine Estates (TWE), one of Australia's leading wine companies with wineries in Australia and the US, announced its new company structure, while claiming that it hopes to keep a “meaningful presence” in China as it diverts wines away from China.

The new structure will change from a sales-region-led business model to one that is brand-led, operating under three new portfolio divisions: Penfolds, Treasury Premium Brands and Treasury Americas.

It has already redistributed wine that would have gone to China, resulting in a 36.6% fall in operating profit in China even before punitive tariffs were fully enacted.