How a storied winemaker is navigating China’s new wine market

What happened On March 5, Penfolds debuted in China its 2026 limited-edition Bin 389 offerings created in collaboration with new Creative Partner Troye Sivan. The launch had been keenly anticipated by wine aficionados and Troye Sivan’s fans alike since the Australian singer-songwriter and actor first revealed at Paris Fashion Week last month his design for the packaging of Bin 389 Cabernet Sauvignon Shiraz from the storied Australian winemaker. The limited-edition portfolio comprises a 750ml gift box and a 1.5L magnum, both encasing wine from the 2023 vintage. Each 750ml bottle is hand wrapped in tissue paper printed with one of 20 photos selected from Troye's personal camera roll and placed in a translucent red-and-white gift box that feels at once nostalgic and hopeful, while the magnum edition Troye co-created with South Korean sculptor Rahee Yoon makes a rarer collectable with a limit of 20 pieces. This very first project of the Penfolds x Troye Sivan collaboration, set for years to come, has brought together the heritage of the Aussie wine titan and the intimate, restrained, and emotionally resonant design philosophy of TSU LANGE YOR, the fragrance and lifestyle brand founded by Troye Sivan. "Troye brings a modern lens that complements the character of Bin 389, one of our most beloved wines," Kristy Keyte, Penfolds Chief Marketing Officer, Kristy Keyte, says during an interview with Jing Daily. The Jing Take In a way that feels intuitive and revealing, the 182-year-old winery and the young, avant-garde artist lay bare what they share to the audiences: endurance, warmth, craftsmanship, and something deeply personal. Penfolds was born in a story of adventure that began in the early 1800s when Dr Christopher and Mary Penfold carried their vine cuttings from England to Australia to make fortified wine. In 1844, their vineyard at Magill took the name Penfolds. Mary carried the business forward after her husband's death in 1870 and made early experiments in wine production. The agenda she had set led Penfolds to become the largest winery in south Australia by the early 20th century. Another turning point came under Max Schubert, the label's first chief winemaker, whose Grange emerged from years of experimentation and rejection before being considered the country's most iconic wine for its "Noir-ish" character. Founded in 2023, TSU LANGE YOR is more than a scent brand but conveys a lifestyle of self, sanctuary, heritage, and identity, one that overlaps with the ethos of Penfolds and the social moods of young consumers today. "Penfolds has a 180+ year commitment to quality and the art of blending; our House Style is instantly recognizable. When a partner like Troye brings curiosity, warmth, and an eye for design, with a respect for what makes Penfolds ‘Penfolds’, magic happens," Keyte tells Jing Daily. Pairing creatives and creating experience In the world of wine, Penfolds stands out as a luxury icon by keeping wine squarely in the cultural conversation while staying anchored in heritage and substance. In building its cultural relevance, it's never been a stranger to pairing influential creatives from diverse backgrounds with its winemaking heritage and to creating experience integrating art, fashion, and wine. Collaboration with Troye Sivan gives an intimate, contemporary flair to Bin 389, nicknamed "Baby Grange" for its layered, nuanced flavor and cellaring potential of up to 25 years. The Grammy-nominated multi-hyphenate carries forward the creative dialogue Penfolds began with NIGO, founder of Human Made and artistic director for Kenzo. Penfolds tapped the world renowned fashion designer its first Global Creative Partner in 2023, following his design of four animal motifs in his signature retro pop-art style – a crocodile, rooster, panda, and bear, representing the brand's four primary wine-sourcing countries of Australia, France, China, and the U.S., for the younger-facing, more affordable "One by Penfolds" range. The same motifs also appeared in Human Made's corresponding apparel line. "NIGO set a powerful precedent for how we engage with fashion and music; Troye now extends that dialogue into contemporary culture, design and community," Keyte notes. Troye's design provides a gateway to render Bin 389 "collectible, personal and highly social," she adds. In the meantime, Penfolds also worked with a wider range of creatives. In 2022, Tel Aviv-based illustrator Ori Toor created in his psychedelic looping style distinctive cultural symbols of the brand's wine-sourcing regions. Last year, Chinese singer-songwriter Hua Chenyu designed the "Flower World“ label for the "One by Penfolds" products with the wines sourced from China, before creating limited-edition "blind boxes" to connect with Chinese Gen Zers who prefer authentic, experiential consumption more than ever in an increasingly saturated alcoholic beverages market. While collaborating with cultural trailblazers to invite loyal fans as well as new audiences to experience Penfolds through design, lifestyle, and pop-culture, the winemaker has also been engaging in other ways to generate cultural conversation, such as the 'Drive and Dine' experience with Mercedes-Benz at the Magill Estate, the Penfolds Postal pop-up event in China's southern metropolis of Guangzhou, and the latest dinner during which Troye Sivan unveiled his partnership with the wine producer in Paris. "We design moments that feel social, tactile and shareable… places where wine naturally connects people." Keyte describes the Paris launch as an example where seasonal food, music, and Bin 389 poured side by side across vintages created "an easy-on-ramp for discovery and conversation." A shifting wine market in China China has long been a critical market of Penfolds, and following the lifting of Australian wine tariffs in early 2024, re-emerged as its most important growth market with a strong return. In the first-half 2025 fiscal results released by Treasury Wine Estates (TWE), Penfolds' parent company, Asia led by China posted roughly 50% revenue growth and contributed close to 70% of Penfolds sales. By late 2025, the rebound in the overall wine market in China started to experience a shift in its growth trajectory. Alongside the Chinese government's alcohol policies which further curtailed spending on large banquet occasions and luxury gifting, this transition pointed to something more structural: China's wine market was returning, but in a more mature, diversified form. The market is shifting toward younger consumers, more premium bottles, and digital retail channels. Survey data shows that Gen Z has become the biggest source of incremental growth in alcohol consumption as the drinking rate among them rose to 73% last year from 66% in 2023. Along with millennials whose spending power is outpacing that of older, wealthier generations, the cohort is fueling demand for premium wines. Female consumers in particular are more willing to pay a premium for luxury packaging or pleasant experiences in wine purchases. "Tipsy" and "solo drinking" are among the buzzwords mirroring young people's lifestyle and emotional consumption. Over the past year, drinking-related online mentions surged by 219% year on year to reach 7.5 million, while interactions surpassed 1.4 billion. The turn to digital retail is another trend. In JD.com's 2025 wine sales rankings, Penfolds' Bin 389 sits comfortably at the top. On Tmall, it has remained among the platform's top imported red wines. Penfolds, as ever, is navigating this shift with dexterity. Recognizing the importance of cultural relevance in sustaining its place in the global luxury landscape, especially in a market as critical as China, it has rolled out a raft of campaigns beyond its collaboration with Chinese ambassadors including actors Luo Jin, Wang Yang, and Tong Liya, while also introducing special editions for festive occasions. It has also partnered with Shang Xia, the Chinese fashion and lifestyle brand backed by Hermès, to fuse a contemporary pulse with heritage. As Keyte puts it, luxury in wine is "time, place and craft coming together, the patience to make something with character and the confidence to let it speak." It is precisely what today's younger consumers are looking for – something with character, and moments that linger long after the glass is empty. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

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How a storied winemaker is navigating China’s new wine market

How Bottega Veneta weaved China’s forever it bag