Asian demand boosts BI wine sales

25 July, 2017

BI wine and spirits merchant has seen total sales increase by 43% to more than £50m in the first half of 2017, of which Asia accounted for 50%.

The 79% increase in rare spirits sales was also heavily driven by Asia, particularly with growing demand for rare whiskies.

‘‘Looking to the balmy summer months ahead the sustained high levels of trade, steady prices and preponderance of export demand all give reason for optimism,” said BI Managing Director Gary Boom.

“The diversity of demand is encouraging, and suggests that the global market is maturing very nicely. Moreover, the plight of the 2017 harvest, which has been heavily hail and frost affected, suggests that a further future supply constraint is to be incorporated – welcome news for holders of stock.”

BI’s Live Trade platform, the only two-way market-making screen for rare wines, generated £17.2m, up 56% on the same period in 2015, with 70% of wines bought via Live Trade going to Asian clients.

Sales of Burgundy and Champagne were both up over 30%, which BI says demonstrates the growing diversity of demand for fine wine across the globe.

The excitement around the quality of the wines in the 2016 Bordeaux En Primeur campaign led to the most successful campaign since 2010. Sales from the campaign generated £14m, up 65% on last year, with 70% of sales going to UK buyers who remained undeterred by the weaker sterling exchange rate.

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