Winemaker to develop markets in eastern Europe
on 23/05/11 at 8:50 amIndustry
ACCOLADE Wines, the private-equity controlled winemaker formally known as Constellation Wines, will use its burgeoning operation in Moscow to develop new markets in eastern Europe in an attempt to balance its huge reliance on the dominant British market and combat the high Australian dollar.
The company has a number of countries in its sights including Ukraine, Poland and the Czech Republic following early successes in Russia, where some of its wines have been selling well.
Accolade chief executive Troy Christensen told BusinessDay the wine group sold 20 million cases a year into Britain but only 2.5 million cases across the rest of Europe.
”It’s a bad balance – the retailers, the currency and government duties just kill your profitability in the UK and you have got to spread across Europe,” Mr Christensen said.