Australian wine maker Treasury Wine Estates (TWE) is planning to focus on its wine portfolio from regional Australia as part of its next phase of global growth.
The effort will aim to realize the maximum potential of these regional wines in order to establish them as TWE's global focus brands.
The portfolio of wine brands include Coldstream Hills, Devil's Lair, Seppelt, T'Gallant, Heemskerk, Saltram, Baileys, St Hubert and Leo Buring.
The focus is on brands which have a price range of $20 to $30 per bottle, reported The Sydney Morning Herald.
The company, however, has not specified the amount of investment being made into this new global brand strategy.
Currently, these nine brands have low level of exports and the company plans to increase the exports of these brands by 50%.
TWE said that the company will improve production and boost promotion of regional wines which have heritage and winemaking pedigree to realize its growth targets.
TWE CEO Michael Clarke said: "We will reinvigorate and grow these regional 'gems' just as we have other brands in our portfolio. These brands will have the freedom and the independence to grow - they are treasured, scaleable wines that we will transform into regional champions, sold globally.
"Opportunity exists to think about, manage and invest in these brands differently. Our dedicated gems brand team will consider all options to ensure these brands maximise their value contribution to Treasury Wine Estates."
Recently, TWE acquired part of Diageo's wine businesses, which the latter sold in order to exit the wine segment.
The acquisition is said to complement Treasury Wine Estates' other business functions and help the company focus on business transformation. TWE now owns Diageo's US-based Chateau and Estate Wines and the UK-based Percy Fox interests for $552m.
