New Zealand winemaker and NZX-listed company Delegat Group has an aggressive plan to grow revenue in the United States by 9 per cent annually for the next three years.
“Which in a market which is largely flat to declining, certainly bucks the trend,” managing director Steven Carden told Markets with Madison.
There were about 53 million premium (anything above US$12 a bottle) wine consumers in the US, making it the world’s largest wine market, he said.
Just 3 million were buying and drinking Delegat’s brands such as Oyster Bay, which was already the third best-selling premium wine brand globally (according to information Delegat shared with investors).
“So there’s significant upside there for us to increase [market] penetration.”
