$10M EXPORT DEAL FOR SIRROMET

Written on the 23 July 2010

$10M EXPORT DEAL FOR SIRROMET

SIRROMET Wines will double its growth and export volumes to China following a four-year deal worth up to $10 million with a major Chinese distributor.

The winery exports 120,000 bottles into China annually with that figure likely to double over the next 12 months. The wines average $27 per bottle.

Sirromet national sales manager Rod Hill, says the deal will overtake domestic sales as the winery creates a niche in Asia for its premium brands in the Jiangxi Provence with the Dong Run Investment Holding Company.

“The deal will significantly add to the growth prospects of Sirromet wines and continue to build Dong Run Investment Holding Company’s reputation as Jiangxi Provence’s leading distributor and retailer,” says Hill.

Sirromet owner Terry Morris, says the deal will potentially open up broader opportunities in China as the company tempts the tastes of the discerning Chinese and fast emerging middle class.

“It’s terrific and the flow-on effect from this will give Sirromet exposure in other provinces also. They have embraced it and love the prestige that comes with the wine,” says Morris.

The agreement follows a trade delegation to China in May with Morris, Hill and Sirromet export manager Jenni McDonald.

Dong Run Group is one of the largest business groups in Jiangxi and covers department stores, retail, wholesale, international trading, property, hotels, logistics and construction.

The department store of Dong Run Group is similar to David Jones of Australia with the wholesale trading section sole agents for many world famous commodities in Jiangxi, such as Colgate, Procter & Gamble, Heinz, Hennesy XO and other leading brands. Sirromet now joins the list.

Chairman of Dong Run Group Jing Lin Zuo (pictured with Morris), visited the Mt Cotton winery last week with the director of the Pastoral Trading Company Luming Huang.

“Both parties are very happy with a very bright future ahead,” says Zuo.

While the offshore arrangement caps a stellar 10-year anniversary for Sirromet, its domestic visibility is a consistent challenge, as Queensland restaurants opt instead to stock southern wines.

“The domestic market is something that we’re working on, but Queensland restaurants have constraints and southern wines vigorously defend their market share. Obviously we would like to see Queensland restaurants stocking wine from the Granite Belt,” says Morris.


Latest News

ENTREPRENEUR'S NEW VENTURE SWEET AS 'HONEE'

A MELBOURNE entrepreneur hailing from the food tech scene has launched a new venture to change the face of beauty....

WATER VENTURE TAKES ON THE PLASTIC SCOURGE

DAMIEN Stone has a thirst to build the world's biggest social enterprise in a clean fight against the plastic ...

BUNNINGS BOSS JOHN GILLAM QUITS WESFARMERS

THE man behind Bunnings' home improvement domination has resigned from his role in charge of the retailer.

...

NOVOTEL SALE REFLECTS HOT BUYERS' MARKET

AFTER two decades in the hands of a private syndicate, The Novotel Melbourne Glen Waverley has been sold to the Sy...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter