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Concha y Toro going great guns with premiumisation
The Chilean wine company, widely known for its accessible price point, took more than half its revenues from premium wines in 2021, latest results show.
Viña Concha y Toro, which counts Casillero del Diablo, Trivento and Cono Sur among its brands, has revealed its 2021 global results.
The findings, released on 17 March, indicate that the company is making clear strides in its strategy to premiumise its offerings and focus on higher-value wines.
During 2021, the company’s earnings rose by 26.7% in profits, with the UK remaining the biggest market for Viña Concha y Toro, growing by 10.1% last year.
Eduardo Guilisasti, CEO, Viña Concha y Toro called it “a year of historic results” and revealed that the company’s 2021 financial figures are the result of a “corporate strategy that we have consistently pursued in recent years”.
The growth was driven, both in volume and value, by the performance of two brands in particular – Principal and Invest, which are at the heart of the company’s focus to accelerate its premiumisation.
Principal covers the Casillero del Diablo portfolio including the Reserva and Reserva Especial ranges. Invest includes Trivento Reserve and Private Reserve ranges, as well as Cono Sur Bicicleta and Organic ranges, Diablo and 1000 Stories.
The Principal and Invest brand portfolio expanded by 10.6% and 16.7%, in volume and value, respectively during 2021. For the first time, these two brand groups account for more than half of Concha Y Toro’s wine sales (53.3%), compared with 39.7% in 2017.
Bottle prices for Casillero del Diablo sit around the £7.50 mark, while its more premium expression Casillero del Diablo Reserva retails for around £8.25.
Viña Concha Y Toro now has at least one wine among the top five best sellers in each of the following export markets: UK, US, Chile, Brazil, Mexico, Sweden and Japan.
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