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Q1 2021: CONCHA Y TORO’S SALES GREW 128% IN CHINA & 266% IN S. KORE

By Susan Lewis

13-5-2021



Source: Concha y Toro

Leading Chilean wine producer Concha y Toro's sales in China grew 128 percent in first quarter of 2021, while in South Korean market, sales grew 266 percent.

The spectacular growth in these two markets was made possible by effective control of the COVID-19 virus leading to normalisation of daily lives and resumption of hospitality and social gatherings.

Concha y Toro has adopted an integrated distribution model China, which will allow the company to strengthen the positioning of their premium portfolio in the Chinese market.

The company generated revenues of USD163,503 million, an increase of 8.2% compared to the first quarter of 2020. While net earnings grew 87.36 percent to USD14,731 million.

The company’s sales in Europe grew 6.6 percent in the period, led by the Netherlands, the United Kingdom and the Nordic countries.

Though Concha y Toro has done well in China in the first quarter, Chilean wine exports to China actually dipped in February 2021.

Chile shipped 3.4 million boxes of wines to China in February 2021, worth a total of USD12 million. These represented decreases of 14.3 percent in volume and 16.5 percent in value compared to February 2020.

(the writer can be contacted at: info@thewinechronicle.com)

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