Treasury Aims for Premiumization
Treasury Wine Estates has made some changes over the past year to prompt a turnaround in the US, with many of them ongoing. That includes realigning distributors, introducing a new face for Beringer, expanding their US team, establishing a new luxury wine unit (Heirloom Wine Group) and introducing two new brands (The Santa Barbara Wine Co and Sledgehammer). Foster's Group ceo Ian Johnston and cfo Angus McKay, along with Stephen Brauer, managing director of the Treasury Wine Estates, Americas, gave some insights on the fiscal year ended June 30 and the company's outlook for fiscal 2011. Here's what they had to say:
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