‘Taking control’: Penfolds cracks down on Chinese grey market amid $1.1b loss
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Source: The Age
Published: 2026-08-13 12:25 UTC+10:00
Section: Business / Companies
Factuality Score: 90
Opinion Category: Neutral
Topics: Asia, Economy & Finance, China, Financial Markets, World News, Business & Economy, Asia Pacific
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Snippet:
Penfolds maker, Treasury Wine Estates, cracked down on grey market imports in China and deliberately turned off the tap to global wholesalers to clear existing stock as the wine giant downsizes the business to target affluent drinkers.
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