Baron Rothschild buys up 10 percent of Torres China
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The Catalonian winery’s Chinese venture is running profit since 2004.
Baron Philippe Rothschild recently bought 10 percent of importing and distributing company Torres China. The agency is currently celebrating its tenth anniversary in China, with offices in Shanghai, Beijing and Canton and plans to move into Shenzen.
The prestigious winemaker decided to team up with Torres China in light of the division’s excellent performance over recent years. Indeed, Miguel Torres’ family-run multinational has been generating profit since 2004. Turnover is growing healthily from € 3.3 m in 2005 to € 5.1 m in 2006. These figures stand for a 54.5 percent growth and 3 percent of the group’s total turnover. Targets for this year are 40 percent growth in terms of value and 25 percent in terms of volume.
From his HQ in Vilafranca del Penedès, group chairman Miguel Torres is confident that within the next five years they will be selling up to 1.2 million bottles, in view of the country’s considerable potential for growth.
In addition to its own wines, in China Torres distributes other highly regarded brands, including Domain Joseph Drouhin (Burgundy), Baron Philippe Rothschild and Robert Mondavi’s ‘Opus One’ (California), Casa Vinícola Zonin (Italia), Salentein (Argentina), Rothschild and Concha y Toro’s ‘Alma Viva’ (Chile), Taittinger (Champagne), Henschke (Australia) or Vega Sicilia (Ribera del Duero).
[Source: Wines of Spain]
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