The French billionaire who has emerged as one of the biggest investors in Australian winemaking giant Treasury Wine Estates says he has bought in for the long term and believes demand for luxury brands will rebound.
Olivier Goudet scooped up more than 6 per cent of the company behind the Penfolds, Wolf Blass and Lindeman’s labels over the last two months after weak sales and market uncertainty about Treasury’s growth prospects sent the stock on a long slide, halving over the last year alone.
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Dining and Cooking