China boost for Trea­sury Wine Es­tate

China Daily (Hong Kong) - - BUSINESS -

De­spite a down­grade from Gold­man Sachs credit rat­ing agency to “sell”, Trea­sury Wine Es­tate said on Mon­day its “highly ef­fi­cient route-tomar­ket” in­vest­ment in China will keep the com­pany on track for their earn­ings guid­ance and ex­pand the wine­maker’s lead­ing po­si­tion. “We are con­tin­u­ing to ex­e­cute on our strat­egy to be the im­ported wine cat­e­gory leader in China by both vol­ume and value,” TWE Chief Ex­ec­u­tive Of­fi­cer Michael Clarke said in a state­ment. The firm has risen from the ninth largest im­porter of wine to China, to num­ber one in just three years; how­ever, some fear a slow­down in the Asian mar­ket and Gold­man Sachs ex­plained re­cently that ex­pec­ta­tions of growth in the Chi­nese mar­ket were un­re­al­is­tic. But TME be­lieves new ware­house fa­cil­i­ties in Shang­hai at the end of 2017, along with the unveiling of its

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