Treasury to offload ‘non-priority’ brands

16th December, 2014 by Lauren Eads

Treasury Wine Estates could “retire” up to 25 “non-priority” brands in order to focus on its high-end ranges, the company’s chief executive has told shareholders.

Michael Clarke, chief executive of Treasury Wine Estates

Addressing shareholders at the company’s AGM in Melbourne chief executive Michael Clarke, who took over the troubled company in February, said that of Treasury’s 80 brands, 15 have the potential to become “global umbrella brands”.

The company announced its intention to focus on “driving consumer demand” for its flagship brands which includes Penfolds, Wynns, Beringer, Wolf Blass, Lindeman’s, Etude, Chateau St Jean, Matua, Stags’ Leap and Souverain.

Clarke said: “These are brands that have the opportunity to become truly global brands. These are brands that are flexible and can be scaled to grow globally; not….

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