The Spanish Bodegas Unidas has restructured its management team as it draws attention away from the UK and other mature markets to the fastest growing economy of China. Richard MacAdams said: ‘The business remains a challenge in the UK and other mature markets, but there are reasons to be optimistic about the future’. Total Spanish wine exports grew 13.5% in value in the first quarter of 2012. A company spokesman said it was looking to “hold” and loses none of its British business, adding that ‘we are quite pragmatic and realistic in that we can not see [the UK market] booming in the way it has fact. We have seen that stabilize and almost stagnant’, he added. Instead CFA is looking to expand its portfolio, focusing on China as the fastest growing wine market in the world.
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More China Wine Market News… US wine exports to Hong Kong and China are growing at phenomenal rates — nearly 10 times over 5 years for Hong Kong, 5 times for the mainland. Combined, Hong […]