Treasury Wine Estates’ Chief Executive has outlined the company’s strategic blueprint for the next five years including the five pillars which are key to its game plan.
Ford said that the game plan sets out how TWE will operate and grow its business in the coming years and what success will look like for the different parts of the company and its brands.
He told investors that in order to deliver on its blueprint the TWE leadership team would be bold in its decision making and the way they innovate to help drive change through the world of wine.
Ford said: “Across our portfolio, our focus is firmly on the consumer and the unique personalised experiences we want them to have with our brands.
“Bold innovation is something that has become a real point of differentiation for us and will continue to be an integral focus moving forward.”
Over time TWE has shifted the mindset of the business to move from being agriculture-led to being brand led and Ford said that this change means the company holds the consumer at the heart of everything it does and every decision made.
Another pillar in the game plan is driving more balance in its sales mix, which will come through a focus on growing the premium brands through a range of channels, including direct to consumer and retailer e-commerce. But Ford emphasised that TWE will continue to build on the strong relationships it already has in place with its key distributors and retail partners.
The third pillar Ford outlined was its sourcing from multiple regions, and also its winemaking in some of the world’s most iconic regions. He said the ability to be able to do this is a “significant competitive advantage for Treasury Wine Estates” and that the company will continue to make high quality wines that consumers want while also focusing on costs as well as becoming an industry champion and a leader in sustainability.
The next pillar builds on these focuses, with Ford saying that the leadership team is driving change in the way it approaches partnerships. With an “absolute priority” for TWE being the evolution of its partnerships across customers, growers, suppliers, government and industry bodies, and the communities in which the company operates.
Finally Ford set out what he called “the most important pillar at the centre of our game plan” and that is “our people”. He described the people as the company’s most important asset, who are key to all success, both current and future. He said the company was working hard on evolving a bold and highly motivating culture that would help to recognise, reward, support and connect everyone.
Ford told investors: “Whilst components of the game plan, and initiatives within it, will naturally evolve over time, you can expect the key elements that underpin TWE 2025 to remain consistent as a very clear path to the continued delivery of our long-term growth journey.”
During the investor day Ford talked about how TWE plans to deliver against its strategy and also its plans to rebuild its relationships with the independent retail sector, and The Shout will bring you more on that on Monday.