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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/18/2013 | 08:40am CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
06:36a MITSUBISHI AIRCRAFT : Personnel Change
06:36a EDEN ENERGY : Successful A$10.35 Million Capital Raising
06:36a EDEN ENERGY : Cleansing Notice
06:31a EDEN ENERGY : Change of Director's Interest Notice
06:31a EDEN ENERGY : Appendix 3B
06:31a UNITED ENERGY : POLL RESULTS AT ANNUAL GENERAL MEETING HELD ON 27 May 2016
06:30a KERR MINES : Arizona Mining announces $18 million underwritten private placement
06:26a GRAND FLO SOLUTION BHD : Others - Proposed Extension of Profit Guarantee Period to Include Financial Period Commencing 1 January 2016 abd Ending 31 December 2016
06:26a TAIWAN FAMILYMART : 2016/05/27 Taiwan FamilyMart consolidated revenue reached 4.77 billion in April 2...
06:25aDJNo Call From G-7 for Coordinated Spending
Latest news
Advertisement
Hot News 
MAY 31 DEADLINE ALERT : GPM Reminds Investors of the Looming Deadline in the Class Action Lawsuit Against DS Healthcare Group, Inc.
BARRETT BUSINESS SERVICES : stock jumps on 2015 profit report
DOLLAR TREE : now combined with Family Dollar, reports first quarter $233 million profit
JUVENTUS FOOTBALL CLUB : Champions League final in Milan highlights Serie A's crisis
DOLLAR GENERAL : Farmers market opening Friday in Slatington will be feeding a need
Most Read News
05/26 Asia stocks edge up after U.S. data, dollar consolidates month's gains
05/26 Oil prices retreat from $50 on oversupply concerns, stronger dollar
Most recommended articles
12:25aDJNo Call From G-7 for Coordinated Spending
05/26 U.S. panel launches trade secret theft probe into China steel
05/26DJOil Falls Below $50 on Profit-Taking; OPEC Meeting in Focus
05/26 Valeant rejected joint takeover bid from Takeda, TPG in spring - source
05/26 Oil prices retreat from $50 on oversupply concerns, stronger dollar