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CONCHA Y TORO'S SALES IN CHINA GREW 89.5% IN 2021, PREMIUM SEGMENT GREW 152%

By Tony Zhu

17-3-2022



Source: Conch Y Toro

Chile's leading wine producer Concha y Toro saw strong growth in China at 89.5 percent in 2021 with the opening of a new distribution center in Shanghai. Sales growth in the premium wine segment in the country was a staggering 152 percent.

Concha y Toro, owner of brands including Casillero del Diablo, Trivento and Cono Sur, said their premiumisation strategy has paid off in 2021, as reflected by a profit growth of 26.7 percent on revenue growth of a much lower 8.8 percent.

Overall sales in 2021 reached CLP836.7billion (USD1.05b), achieving a record for the second consecutive year, while profits amounted to CLP98.8b.

“Once again we had a year of historic results for Viña Concha y Toro. In 2021, the company’s financial figures are the result of a corporate strategy we have consistently pursued in recent years, with a focus on the value of our sales portfolio and the profitability of operations,” said Viña Concha y Toro’s CEO, Eduardo Guilisasti.

The company said in both volume and value, growth was driven by the performance of the premium brands, which are the strategic focus and accelerator of the company’s premiumisation strategy.

The premium brand portfolio led growth in 2021 with an expansion of 10.6 percent and 16.7 percent, in volume and value, respectively.

Outstanding performances included Casillero del Diablo and its line extensions with 8.7 percent growth and a volume of 7.2 million cases; Trivento Reserve with an 11 percent increase and 1.5 million cases.

The United Kingdom continued to be the company’s most important market, generating 25 percent of revenues, with an increase of 10.1 percent.

South Korea, Brazil and Mexico also achieved outstanding performance with double-digit gains. In the United States, sales volume for the premiun category grew 7.1 percent, led by Bonterra, Trivento Golden, Cono Sur Orgánico, Marques de Casa Concha and Don Melchor.

In Chile, sales rose 25 percent, with a growing share premium brands, as well as an increase in average price.

“Looking ahead to 2022, we are aware of the great challenges that exist for companies and individuals on a number of fronts. Along with hoping for a favourable evolution of the pandemic and the logistics crisis, and an early peaceful resolution of the recent geopolitical conflict in Eastern Europe, we will continue to work with great commitment and confidence in the solid foundations of our company, which will enable it to face the challenges ahead and end this year as an even stronger company,” said Guilisasti.

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

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