The owner of Seppeltsfield Estate and Gemtree says the company took a $40m hit from Chinese wine tariffs and regaining lost sales could take three years.
The company’s chief executive, Don Meij, said there had been a turnaround in another poorly performing market – Japan – after the new products were introduced.
Don Meij has been CEO of Australia’s biggest pizza group for 22 years, but mistakes are mounting and replicating local success in France and Japan is proving difficult.