172@29@17@245!~!172@29@0@53!~!|news|business|sula-vineyards-to-export-wines-to-singapore-tap-other-south-east-asian-markets-5652501.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
you are here: HomeNewsBusiness
Last Updated : Aug 06, 2020 11:30 AM IST | Source: Moneycontrol.com

Sula Vineyards to export wines to Singapore, tap other South-East Asian markets

Sula Vineyards has partnered with with food distribution firm Sonnamera to enter the Singapore market.

Nashik-based Sula Vineyards will begin exporting to Singapore to expand its presence in the South-East Asian wine market.

"Singapore is a thriving wine hub. The Singaporean consumer now has the choice of experiencing robust flavours of our wines," Rajeev Samant, founder and CEO of Sula Vineyards, said, as quoted by Financial Express.

The winemaker has partnered with food distribution firm Sonnamera to enter the Singapore market.

Close

Also read: Sula Vineyards reopens resorts with contactless options

"Over the past few months, with the outbreak of COVID-19, the off-premise consumption of wine has driven rapid growth in the category and we expect this trend to continue to be strong for several months as more meals are cooked at home and home entertaining takes precedence over dining out," Abhay Sharma, founder, Sonnamera said, as quoted by the publication.

Singapore's wine market registered 5.7 percent compound annual growth rate (CAGR) for 2013-2018 and is forecast to increase to 7 percent by 2023, according to data and analytics company GlobalData.

Sula Vineyards, which has a share of over 60 percent in the domestic market, imports its products to over 30 countries. Sula Vineyards added Australia to its exports portfolio in March 2020 and had begun exporting to China in 2019.
First Published on Aug 6, 2020 11:30 am

tags #Business

Sections