Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

HCI - Hosken Consolidated Investments Limited : WEAK RAND COULD MEAN GREAT VALUE SOUTH AFRICAN WINES

04/18/2013 | 02:40am US/Eastern

A leading producer believes favourable currency rates mean South African wines can now beat the likes of Australia in offering "exceptional value for money" at all price points.

While sterling is weak against the euro, the US dollar and the Australian dollar, it is showing continuing strength against the South African rand.

KWV chief winemaker Richard Rowe told OLN: "Recognised Australian brands are saying they are not going to continue in the UK market. They have a problem with the strength of the dollar, but that's not an issue with the rand.

"The position of the rand at the moment is particularly favourable for us to move into the UK."

Rowe believes KWV, one of South Africa's largest producers, struggled under the agency of Thierry's because "we gave them too much latitude".

He added: "There wasn't appropriate focus and we were selling entry level products at a price that wasn't sustainable."

But KWV has now appointed Myliko as its UK distributor and is set for a large-scale push in Britain, starting at the London International Wine Fair.

Rowe said: "With a new partnership there is new energy and new focus and we are looking to rebuild our market position.

"We want to present wines of exceptional value for money at entry level and to be selling products above £20."

He warned of the dangers of South Africa being pigeonholed as a producer of entry-level wine and stressed he wants KWV to have a "balanced pyramid".

It offers entry-level wines, the £7.99 KWV Classic range, the £9.99 Rooderberg range, the £19.99 Mentors range and wines all the way up to the £75 Perold label.

"It's a surprise to me that South African producers have pulled out of the UK saying it's too competitive," he said. "It's about getting your offering right."

Source: Offlicence News - Martin Green

distributed by
React to this article
Latest news
Date Title
12:00p QUALCOMM : invents way to wirelessly charge mobile devices with metal bodies
12:00p PHILIPPINE STOCK EXCHANGE : Security Bank’s 1H profit up 29%
12:00p API AMERICAN PETROLEUM INSTITUTE : urges House and Senate action on crude exports
12:00p DIAMOND BANK : Half year profit falls on increased operating expenses
12:00p WTO WORLD TRADE ORGANIZATION : Azevêdo inaugura la 30° Semana en Ginebra para Miembros y observadores sin representación
12:00p APERAM : announces publication of its Half Year Report 2015
12:00p WTO WORLD TRADE ORGANIZATION : Azevêdo opens 30th Geneva Week for non-resident members and observers
12:00p ALTEN : Business in the first half 2015
12:00p LONDON MARKET CLOSE : Shares Gain As Investors Await Fed Statement
12:00p WTO WORLD TRADE ORGANIZATION : M. Azevêdo ouvre la 30ème Semaine de Genève pour les Membres et observateurs sans représentation
Latest news
Advertisement
Hot News 
DOMINO PRINTING SCIENCES : survey uncovers marked differences in serialisation readiness
QUINTAIN ESTATES AND DEVELOPMENT : UK's Quintain in takeover talks with U.S.-based Lone Star - Sky News
TABLEAU SOFTWARE : Reports Second Quarter 2015 Financial Results
Belgium's Solvay to buy U.S. peer Cytec for $5.5 billion
CML MICROSYSTEMS : Confident In Improved Profit As First Quarter In Line
Most Read News
07/28 Guardsmark, founded in Memphis, is sold to California security service firm
07/28 USMEF U S MEAT EXPORT FEDERATION : Audio: Persistently Low Prices, Weak Euro Fuel Large Volumes of EU Pork into Asia
07/28 INDUSTRIAL INCOME TRUST : to Be Acquired by an Affiliate of Global Logistic Properties
11:32a Barclays to speed up cost-cuts and asset sales
07/28 EMERALD GRAIN PTY : rebrands east-coast accumulation network
Most recommended articles
11:58aDJMARKET SNAPSHOT : U.S. Stocks March Higher For Second Straight Day
11:57a Weak home purchase contracts hint at pause in sales activity
11:55aDJYelp Shares Fall to Two-year Low After Guidance Cut
11:53a Thomson Reuters profit beats, finance unit shows growth
11:50a Bombardier says not in talks with Siemens on rail deal