As wine lovers shift to drinking less while spending big on luxury tipples, so too is one of Australia's premium vintners.
Treasury Wine Estates, which owns the globally recognised Penfolds brand, plans to operate with 30 brands, down from more than 70, across multiple markets.
The "meaningful reduction" over time would happen alongside a major investment in its top 10 "power" brands, chief executive Sam Fischer revealed on Thursday.
This segment, which includes Penfolds, California brand Daou and New Zealand heavyweight Matua, contributes 72 per cent of gross profit on 25 per cent of the listed company's wine volume.
"Our power brands will represent the largest growth opportunities," chief executive Sam Fischer told investors at a strategy day on Thursday.
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