The theme of today in Australia is change and adaptation. Separate from the challenges of an ongoing global pandemic, the disintegration of the nation's relationship with China has caused the wine industry much pain. Australian wine exports to mainland China dropped to nearly zero in December 2020 as the Chinese state continues to impose punitive tariffs on Australian goods.
Meanwhile, supermarket chain Woolworths is in the process of finalising the most significant business transaction in the domestic wine market for decades. The supermarket brand will separate itself from the Endeavour Group, the largest owner of retail alcohol stores in Australia. The demerger was first considered in July 2019, spearheaded by the company's board of directors. “It will create two leading ASX-listed companies,” Woolworths Group chairman Gordon Cairns told local press.