When reflecting on the past 12 months, Peter Neilson, Managing Director ANZ of Treasury Premium Brands (TPB), acknowledges that the Australian wine industry has faced many challenges. But such challenges have not broken producers like TPB, and instead have created an environment that has continued to allow the industry to demonstrate its agility and adaptability.
“Throughout 2023, Treasury Premium Brands received strong support from our customers and industry association in response to some of the changes in our operations and company focus,” Neilson said.
One of the key highlights of the past year that reflects a pivot into areas of demand is TPB’s launch into the mid-strength wine category. Neilson notes that no and low alcohol wine has become a key part of the wider Treasury Wine Estates (TWE) innovation strategy.
“TWE recently invested $10 million in research and development into the category including building an in-house state-of-the-art low alcohol production facility in the Barossa Valley. This truly sets us up for success in delivering more choice for the growing number of consumers who want to enjoy a full flavour wine experience without the full impact of alcohol,” Neilson noted.
TPB capitalised on the success of no and low alcohol Matua Lighter and Wolf Blass Zero by expanding the portfolios of other well-loved brands, launching zero and mid-strength Squealing Pig ranges and a mid-strength Pepperjack, with plans to evolve this more in the coming year.
The innovations of 2023 went beyond this category into new frontiers.
“We tapped into Asian fusion culture and launched a world-first that broke all the traditional wine norms with Sun Monkey – a sake flavour infused wine,” Neilson explained.
“Perfect for an evening with friends, this new wine brand launched with a Shiraz Grenache and a white blend and is the go-to drink for a new generation of multicultural experiences and thrill seekers, transforming the way we see wine by bringing a subtle complexity to fruit-forward sessionable occasions, particularly paired well with Asian cuisine.”
Innovating with purpose in 2024
Going into this year, the focus for TPB will be continuing to enhance its offerings to meet the needs of a changing consumer base.
Technology and innovation will remain as a key growth area, to enable the brand to deliver on this. Also enabling this enhancement is a key piece of work from last year.
“[In 2023] our Insights team launched a large-scale global consumer research project that created a framework to understand 3,000 consumers and 30,000 drinking occasions in Australia, UK and China so we are really excited about uncovering areas of growth and understanding our consumers and key drinking occasions better than ever before,” Neilson said.
“Further to this, by identifying and targeting key growth trends in the marketplace, TPB will continue to expand its offerings via innovation and portfolio expansions.”
With everything it does this year, TPB is excited to keep supporting both the off- and on-premise industries as they navigate an increasingly vibrant post-Covid landscape.
As Neilson said: “Our business is focused on meeting evolving consumer interests across the globe, and on delivering sustainable growth. Everything we do is dedicated to realising our TWE ambition of becoming the world’s most admired premium wine company.”
This article originally appeared in the 2024 Leaders Forum issue of National Liquor News.