Treasury Wine Estates, the owner of Penfolds, has unveiled a new strategic plan aimed at revitalizing its operations after a series of missteps and disappointing performances. The company intends to simplify its extensive brand portfolio from 76 brands to 30, while also considering the sale of some or all of its US wineries. This announcement, made by CEO Sam Fischer, led to a nearly 13% increase in the company's share price following a significant decline earlier this year. Fischer's plan emphasizes a shift towards premium wines, acknowledging changing consumer trends favoring quality over quantity. However, skepticism persists among investors due to the company's troubled history, including a $2 billion investment in US assets that has not yielded positive results. Previous attempts to restructure, including the failed sale of lower-end brands, have raised concerns about the effectiveness of this new strategy. Additionally, Treasury Wine has faced legal issues, including a $65 million fine related to misleading conduct. As the company embarks on this ambitious overhaul, the execution will be critical to its success.