Treasury Wine Estates flags major brand cull in portfolio restructure

Treasury Wine Estates (TWE) today outlined plans to reshape its portfolio around “evolving consumer and customer needs”, and to focus increased investment behind its strongest long-term growth opportunities. The company said its goal is to become “a simpler and more focused luxury wine business,” investing in fewer, stronger brands, while increasing its emphasis on lighter styles and no and low- alcohol wines. The restructure is expected to result in a significantly reduced TWE portfolio, from 76 brands down to less than 30 over time. Despite this dramatic scaling back of brands, TWE chief executive officer Sam Fischer said the company was building on strong foundations.