This week in news
Treasury Wine Estates (TWE), the world’s largest standalone winemaker, said it has won a lawsuit against a “copycat” accused of imitating its prestigious Penfolds brand in China.
Penfolds wines and, especially, the ultra-high-end Grange vintages, are popular and profitable, and are sold under the brand name “Ben Fu” in China. TWE sued in February to restrain Australian company Rush Rich from using those names. The company confirmed on Monday that Australia’s Federal Court ordered Rush Rich to cease and pay just over $375,000 in compensation.
Bubs Australia has signed a joint venture with Beingmate, one of the largest Chinese owned enterprises in the infant nutrition industry.
The deal will see Beingmate distribute and promote Bubs’ goat and organic cow milk products throughout its network, including 30,000 stores throughout China.
“We are truly excited to set out on this joint venture,” Bubs founder and CEO Kristy Carr commented at a signing ceremony yesterday.
The signing ceremony with Beingmate was accompanied by signing ceremonies formalising Bubs Australia’s partnership with Alibaba’s Tmall, and an equity-linked alliance with Chemist Warehouse.
Coca-Cola Amatil is on track to hit its target of sourcing 60 per cent of its energy from low-carbon and renewables by next year, managing director Alison Watkins confirmed.
Speaking at the launch of CCA’s 2018 Sustainability Report, Watkins said there’s more to be done, but the business is happy with the progress.
“Bottling is energy-intensive, so our shift to low-carbon and renewables is a significant change we’ve focused on natural gas, solar and wind, but we’re open to other technologies and will look at how these can be incorporated in our operations,” Watkins said.
The report shows the company presently sources the equivalent of 56.2 per cent of its energy from low-carbon or renewables, principally wind, solar and natural gas.
French retailer Carrefour plans to axe 3000 jobs from its hypermarket stores in France, according to media reports last week.
Speaking to Reuters, a spokeswoman confirmed the plan cuts had increased from 1,230 to 3,000 and will be rolled out via a voluntary scheme.
While declining to comment on the savings the new plan would generate, the spokeswoman told Reuters it could increase the number of voluntary departures through an additional early retirement scheme.