Vino Joy News
Posts
Much-Anticipated Mid-Autumn Wine Sales: A Flop? Key Importers Weigh In

Much-Anticipated Mid-Autumn Wine Sales: A Flop? Key Importers Weigh In

Brown Brothers and Vinehoo Team Up for China/ Vivino Opens First Physical Store in Singapore

Natalie Wang
September 09, 2024

Hello, this is Natalie. We have some exciting news to share: our editorial team has grown! We’ve welcomed Olivia Wang, who most recently worked with The New York Times in Hong Kong as a reporter and researcher. Feel free to reach out to her at [email protected] with any story ideas or tips.

Now, onto the latest from the global wine industry. This past week has seen major shifts, from leadership changes to market challenges and new partnerships.

As we approach Mid-Autumn Festival, a key period for wine sales in China, importers are facing mixed results. Will the season's anticipated boost arrive late, or are we in for a disappointment?

In Australia, Robert Foye made a surprising departure from his role as CEO of Accolade Wines after nearly a decade. What does his exit mean for Australia’s second-largest wine producer? Meanwhile, Brown Brothers has teamed up with VINEHOO to tap into China’s burgeoning young wine consumer market in an exciting new partnership.

On the domestic front, Changyu is reporting a significant profit plunge, warning of stagnant market conditions with no recovery on the horizon. And in an escalating trade dispute, French drinks associations are protesting China’s new tariffs on EU brandies, calling them unjustified.

Stay tuned for more insights and developments!

China’s Mid-Autumn Wine Market Faces Sluggish Sales, Importers Say

A month leading up to the Mid Autumn Festival, a key season for wine sales, importers are grappling with a mixed bag of results. While August brought a slight improvement over the summer lull, wine distributors report that demand is far below last year’s levels, leaving many to wonder if the festive season can still deliver the expected boost.

Robert Foye, CEO of Accolade Wines, Quits

In a surprising move, Robert Foye, CEO of Accolade Wines, has announced his resignation. After nearly a decade at the helm of major wine companies, Foye plans to return to Texas. What’s next for one of Australia’s largest wine producers?

Vivino Launches First Brick-and-Mortar Store in Singapore

Vivino, the popular wine rating and sales platform, is set to open its first-ever physical store in Singapore, marking the company’s continued expansion into the Asian market following its earlier entry into China.

Brown Brothers and Vinehoo Join Forces to Unleash New Potential in China’s Wine Market

Australia’s leading family-owned winery Brown Brothers, with over 135 years of winemaking expertise, has entered into a strategic partnership with VINEHOO, a Chinese wine company specialising in all-channel sales, to tap into China’s burgeoning young wine consumer.

Changyu Warns of ‘Stagnant’ Market, No Recovery in Sight as Profits Plunge 40%

Changyu Pioneer Wine Company, China’s largest wine producer, reported a nearly 40% decline in net profit for the first half of 2024, reflecting the ongoing challenges in the country’s wine market.

French Drinks Associations Slam China’s ‘Unjust’ Brandy Dumping Claims

Leading French alcohol industry associations have voiced strong protest over the “unjustifiable” duties on EU brandies and urged European and French authorities to resolve the issue within two months, after the Chinese Ministry of Commerce announced a preliminary finding of dumping by EU brandies last week.

China’s Australian Wine Boom Slows: July Imports Dip Amid Signs of Market Plateau

China’s imports of Australian bottled wine continued to surge in July, recording a staggering year-on-year increase in both volume and value. However, the momentum slowed slightly with a 2.49% decrease in value compared to the previous month, showing early signs of a potential plateau following the post-tariff rebound earlier this year.