Japan and South Korea are bright spots for Portuguese wine

Published 2024년 7월 23일

Tridge summary

Portuguese wine producers are focusing on Japan and South Korea for high-value exports of still wines, with The Fladgate Partnership expanding into still and sparkling wines. CEO Adrian Bridge identifies significant potential in these markets, especially for aged Alvarinho. South Korea, a notable source of visitors to Fladgate's Porto tourism center, contributed over €4 million in Portuguese wine exports in 2023. Japan, with €7.7 million in exports last year, is also a key market due to its appreciation for high-quality wines. Both markets present opportunities for Portuguese producers to establish a strong presence.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Portuguese wine producers are betting on the potential of two Asian markets — Japan and South Korea — for high-value exports of still wines from the country. The Fladgate Partnership, founded in 1692 as a Port wine business, has branched out into still and sparkling wines in September 2023 following the acquisition of IdealDrinks. Adrian Bridge, CEO of The Fladgate Partnership, which produces Taylor’s, Fonseca and Croft alongside its new portfolio of still wines from different regions in Portugal, is hopeful that the country’s reach in international markets is only going to grow. “Any fine wine market is a potential market, whether that be Dubai, Korea or Denmark,” he told db in July for the big interview. In Asia, Bridge explained that South Korea and Japan both show huge interest in old Alvarinho, and will pay significantly more than most markets for a bottle. Fladgate therefore “favours allocations in those markets” for aged expressions of the grape. Read the full interview ...

Source: Thedrinkbusiness