In a strategic move signaling their re-entry into China's lucrative wine market, Treasury Wine Estates, Australia's largest wine producer, unveils plans to bolster its workforce in the region.
CEO Tim Ford disclosed intentions to augment the Chinese team by two-thirds, from 120 to around 200 employees, by mid-2022.
This expansion aligns with the company's concerted efforts to fortify its brand presence and intensify marketing initiatives within the Chinese market over the next year.
The decision to ramp up recruitment underscores Treasury Wine Estates' commitment to re-establishing a formidable foothold in China, a critical export destination. While specific details regarding the hiring expansion remain undisclosed, job listings on Chinese recruitment platform Zhaopin reveal multiple openings across diverse functions and regions under the company's Chinese subsidiary, TWE (Shanghai) Trading Co., Ltd.
Treasury Wine Estates' resurgence in China follows a period of market disruption precipitated by anti-dumping tariffs on Australian wines. Previously a dominant force in the Chinese wine landscape, the company encountered setbacks as trade tensions escalated, prompting significant downsizing in 2021. Despite these challenges, the enduring importance of the Chinese market is underscored by Treasury Wine Estates' robust financial performance, with China leading all divisions in net sales revenue growth and profit generation in 2019.
Industry insiders express optimism regarding the company's revitalized presence, citing its esteemed portfolio, including renowned brands like Penfolds and Maison de Grand Esprit. The expanded workforce is anticipated to enhance service delivery and facilitate sustained growth amidst evolving market dynamics.
Amidst a landscape characterized by shifting regulations and market dynamics, Treasury Wine Estates' resurgence signals a renewed era of opportunity in China's wine industry. With an expanded workforce and fortified marketing endeavors, the company is poised to navigate challenges and capitalize on emerging opportunities, underscoring its enduring commitment to the dynamic Chinese market.