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Penfolds’ China Comeback Met With Sluggish Retail Sales

Imported Wine in China Might Get More Expensive, Here’s Why/ China Set to Join OIV

Author

Natalie Wang
July 15, 2024

Hello, this is Natalie from Vino Joy News.

I just came back from a trip to Shanghai and the city's transformation is remarkable. Clean boulevards lined with lush trees create a refreshing urban landscape, and the presence of more expats, thanks to China’s more open visa-free policy, is noticeable. Shanghai is truly a city that never stops, which is evident from the army of delivery men zapping me by racing agaist clock.

While the city is vibrant, consumption sentiment on the ground is still soft and trading down is notable. On-trade wine sales are slow, as local friends shared with me, but recovery in this sector as they observed is faster compared to e-commerce and private sales.

One of the key stories you don’t want to miss is our report on Penfolds’ sluggish retail sales in China—a concerning trend despite the brand’s massive popularity. There’s also a lot of discussion about potential consumption tax reforms in China and how these changes might impact imported wines.

Additionally, China is expected to join the OIV as a full member this November, culminating over a decade of efforts to secure its membership. More news and headlines are below.

Penfolds’ China Comeback Met With Sluggish Retail Sales

It's a worrying sign when the popular Penfolds is experiencing slow sales, but some merchants remain hopeful for upcoming festive season.

The New Face of Delaunay Vins & Domaines

One year into her family’s wine business, Jeanne Delaunay, the sixth generation appointed to steward her family’s legacy in Languedoc and Burgundy, has comfortably settled into her role, transforming Abbotts & Delaunay.

Louis Roederer Launches Collection 245

Louis Roederer, the esteemed Champagne house, has unveiled its latest multi-vintage blend, Collection 245, which is now available in Hong Kong through its exclusive importer, Links Concept.

Imported Wine in China Might Get More Expensive, Here’s Why

Imported wines in China might get more expensive with the new consumption tax reform discussions, adding more pressure to merchants at a time when overall wine imports and consumption have both contracted.

China Set to Join OIV as Full Member in November

China is expected to become a full member of the OIV this November, giving the country greater influence in formulating international standards and regulations on wine production and consumption.

Maserati and Antinori Collaborate to Celebrate Tignanello’s 50th Anniversary

To mark the 50th anniversary of Italy’s famed Super Tuscan Tignanello, Italian luxury carmaker Maserati has crafted a bespoke Fuoriserie version of its GranCabrio Folgore, a cutting-edge electric model to honor the Marchesi Antinori family’s storied winemaking tradition.

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