Treasury Wine Resurrects Wine for Women Drinkers
Treasury Wine Estates Ltd. plans to turn a discarded label from the U.S. into one of the group’s top worldwide brands as it focuses on female drinkers. Truvee, rolled out in Australia on Friday, will go on sale in Europe, Asia and the U.S. and be a global brand within 18 months, Chief Executive Officer Michael Clarke said in an interview. The brand could then overtake popular Treasury labels such as Coldstream Hills, Seppelt and Devil’s Lair, he said. Treasury, the maker of Penfolds Grange, acquired Truvee when it bought most of Diageo Plc’s U.S. and U.K. wine assets for $600 million in January. It was set to be discarded.