Are you keen to secure core growth for your business? Expanding into new markets is an effective way of accessing growth and it could be more accessible than you think.
BridgePoint Group’s client Wine Insights continues its momentum, signing an exclusive agreement with Manassen Foods to market and promote their Beelgara Wines brand into China.
Manassen Foods is part of the Bright Food Group, one of China’s largest distributors of Australian wine and food. Wine Insights is one of Australia’s top 25 largest premium wine producers.
Commenting on the agreement, Managing Director of Wine Insights, Peter Toohey said “We have worked closely with Manassen Foods and their parent Bright Food Group for over twelve months to develop a range of Beelgara Wines for Chinese consumers, mindful of the subtle taste, style and packaging cues unique to that market. We believe this collaborative approach will underpin the brand’s success in one of the world’s largest growing wine markets.”
Signalling strong growth expectations, Mr Toohey added, “We will continue to work closely with the Bright Food Group to build the Beelgara brand into one of the top five Australian wines sold in China over the next three years.”
Growth or how to grow is a common yet exciting obstacle facing many businesses; Wine Insights appear to have got the formula right by tailoring their award winning product to suit the Chinese market. The local insight of Manassen Foods has allowed them to develop the right product at the right price point for that market.
However, the underlying lesson is about understanding the market you are moving into, do your research, understand what market will be suited to your product and if there is a need to tweak or refine your product to suit. The important take away is to maintain the quality your product is known for as that translates across all.
BridgePoint Group provides Advisory services to Wine Insights. The Advisory team are available to help you devise the right growth strategy, recognising your business strengths and the opportunities to help leverage them. Wine Insights have succeeded in entering one of the world’s largest growing wine markets. Well done Peter and the team.
To find out more about our Advisory services, please click here.