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
03:26p CARNIVAL : Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)
03:26p PLAINS ALL AMERICAN PIPELINE, L.P. AND PLAINS GP HOLDINGS : Announce Timing of Second-Quarter 2016 Earnings Release
03:25p DELEGATION OF EUROPEAN UNION TO GEORGIA : ENPARD brings together Georgia's potato cooperatives
03:25p FAS FOREIGN AGRICULTURAL SERVICE : Private Exporters Report Sales Activity for China
03:25p MARWYN VALUE INVESTORS : Net Asset Value
03:25p RHYTHMONE : Total Voting Rights June 2016
03:25p IEA ENERGY AGENCY : launches four-year energy project in Eastern Europe, Caucasus and Central Asia
03:25p MINISTRY OF AGRICULTURE OF GUYANA : No outbreak of any poultry disease
03:25p IBERDROLA : Ignacio Galán at the Government Business Dialogue organized by the Carbon Pricing Leadership Coalition in Paris
03:25p IBERDROLA : presents book in lower house of Spanish Parliament, titled 'Protectorado español en Marruecos. Repertorio biográfico y emocional'
Latest news
Advertisement
Hot News 
ECO ANIMAL HEALTH : Final Results
Hershey rejects $23 billion Mondelez takeover offer
OraSure Technologies and AbbVie Agree to an Early Termination of HCV Co-Promotion Agreement
QUARTIX : Trading In Line, On Track To Meet Market Expectations
KELLOGG COMPANY : Establishes Venture Capital Fund To Support Growth
Most Read News
06/30 Starbucks accused of slashing employee work hours amid cost cuts
06/30 TESLA MOTORS : U.S. opens investigation in Tesla after fatal crash in Autopilot mode
06/30 Hershey rejects $23 billion Mondelez takeover offer
Most recommended articles
06/29 Gold Prices Consolidating Another Bullish Breakout
06/29DJStocks Rise as Brexit Worries Ease
09:23aDJRussia's RT Global Resources Pulls Out of $4 Billion Ugandan Refinery Project
09:19aDJPuerto Rico to Default on Constitutionally Guaranteed Debt
09:17a Fiat Chrysler, Nissan report higher June U.S. sales