Business
Plan to turn Penfolds into Gucci starts at home – The Australian Financial Review
Treasury Wine Estates wants to turn Penfolds into a global luxury brand. First it needs to win more customers at home.
Earnings before interest and tax dipped ever so slightly to $357.3 million, but that accounted for a whopping two-thirds of Treasurys total group profit. And most impressively, Penfolds EBIT margin grew from 45 per cent to 47 per cent.
That actually compares pretty nicely to Burberrys EBIT margin in 2020 of 17.8 per cent, the 23.9 per cent EBIT margin at Kering (which owns a swag of luxury brands including Gucci, Yves Saint Laurent and Balenciaga) and the 18.6 per cent margin at LVMH, owner of Louis…
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