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The Penfolds Playbook in China

The Penfolds Playbook in China

U.S. Wines Priced Out: China’s New Tariffs Could End $50M Trade/ Tmall Global Data/ Sotheby's 2024 Report

Natalie Wang
April 15, 2025

Think Penfolds' success in China is just down to a lucky Chinese name? Think again. We spoke with importers and distributors across the country to uncover the real reason behind its dominance—and it has less to do with terroir and tradition, and more to do with luxury branding and a playbook borrowed straight from baijiu and spirits giants.

Meanwhile, U.S. wines are facing a brutal uphill battle in China as tariffs soar to 218.9%, pricing many out of the market. As trade tensions escalate, could EU producers find a new lifeline in Asia’s wine-thirsty markets?

Over at Tmall Global, new sales data reveals that wine has officially outperformed both spirits and sake on the platform. But what exactly are Chinese consumers drinking? Which brands are winning, and how do preferences differ between male and female drinkers? We’ve got the breakdown.

And in other news you shouldn’t miss: Treasury Wine Estates has completed its long-awaited Stone & Moon winery in Ningxia, and Sotheby’s just dropped its 2024 Wine & Spirits Market Report—with big implications for Asia’s fine wine scene.

To help you navigate these changing dynamics, we’ve just released our most comprehensive resource yet: China’s Top 100 Wine Importers—a 237-page report detailing the key players and regional market trends shaping the future of wine in China.

Stay on top of Asia’s fast-moving wine industry with our exclusive stories, and don’t forget to subscribe for premium insights and content.

U.S. Wines Priced Out: China’s New Tariffs Could End $50M Trade

The latest tariff threatens to effectively wipe out the nearly US$50 million U.S. wine trade with China, as the tax burden on American wines rockets to a staggering 218.91%.

Can EU Wines Pivot to Asia to Offset U.S. Loss?

While the tariffs on EU wines are paused - for now, producers need to look elsewhere to diversify their markets. Can Asia be the answer? We talked to importers, brand owners and marketers in the region to find out.

TWE Completes Acquisition of Stone & Moon Winery in China

Australia’s Treasury Wine Estates has completed its acquisition of a 75% stake in Stone & Moon Winery, marking the important milestone in the company’s commitment and investment in Ningxia, and the broader Chinese wine industry, the company said.

Tmall Global: Alcohol Emerges as Fastest-Growing Category

The latest data on Tmall Global’s wine and spirits sales is in—and the results are encouraging: wine has officially become the highest-grossing alcohol category on the platform, outperforming both spirits and sake.

Sotheby’s 2024 Report: US Takes Lead and Bordeaux Slides

Sotheby’s has released its 2024 Wine & Spirits Market Report, showing that while the United States recorded impressive gains—overtaking Hong Kong in annual wine sales for the first time—Asia continues to hold its ground.

Penfolds Playbook: What It Got Right About China?

While most traditional wine brands focus on heritage, terroir, and winemaking philosophy, Penfolds in China has flipped the script.

According to our interviews with importers and distributors across the country, Penfolds was the only wine brand showing strong consumer sell-through during this crucial period. The difference was so dramatic that some began using the phrase “Penfolds vs. the rest” to describe the market.

What’s driving its success in China? Find out more here in our report.

San Pedro 1865 Unveils 97-Point Icon Wine “Prelusion” in China

While Chilean wine exports to China have been on a steady decline for two consecutive years, one of the country’s biggest wine groups, VSPT Wine Group, is defying the odds with a bold bet on premiumisation.

China Food and Drinks Fair: New Opportunities Rise Amid Market Caution

While China’s wine market continues to adjust at a low ebb, this year’s China Food and Drinks Fair (CFDF) in Chengdu signaled renewed energy—and evolving opportunities—despite a more cautious tone among buyers and exhibitors.

China’s Top 100 Importers

The 237-page report offers an in-depth analysis of regional dynamics and market opportunities across North China, Northeast China, East China, South Central, Southwest, and Northwest China. It identifies the top 100 wine importers currently operating in mainland China. This regional breakdown provides a clear picture of where market influence is concentrated—and how each part of the country is shaping the growth and transformation of wine consumption in China.