The new business relationship is the culmination of four years of negotiations with CRC by Sileni Estates chief executive and president, Sir Graeme Avery.
“We have had a presence in China since early 2007, but the launch of Sileni into Ole’ and blt stores is particularly exciting for us. These high-end supermarkets focus on stocking the best international products, including fresh produce, dry goods and wine. Their retail experience is one of the best I’ve seen anywhere in the world.”
China Resources Vanguard currently has a total of 50 Ole’ and blt stores across China, selling more than 70% imported products.
“We are very grateful to work directly with Sileni Estates, the famous New Zealand winery with a great reputation. We thank the Sileni team for their support and look forward to seeing Sileni wines grow in popularity in Ole’ and blt,” chief executive of Ole’ Wine Cellars, Leo Su said.
China is now thought to be among the top five wine-consuming countries in the world. Wine is seen as a status symbol among the emerging middle class in China, with growth driven by young people and middle-class consumers enjoying higher incomes.
“There is a lot of potential in the Chinese market, which is why we continue to invest in growing our brand there. But it is a market that requires patience, per capita wine consumption is still low, so we anticipate growth will be slow,” Sir Graeme Avery said.
The nationwide launch of Sileni wines will be supported by a Chinese based brand ambassador.
