Premium sales drive growth for Viña Concha y Toro in 2021

17 March, 2022

Viña Concha y Toro has reported that profits rose by 26.7% in 2021 with sales of premium wines accounting for more than half of company revenues for the first time.

Sales reached Ch$836.7 billion (GBP£796.9 million), a record for the second consecutive year, while profits hit Ch$98.8 billion (GBP£94.5 million).

The UK remained the company’s most valuable market generating 25% of total revenue and increasing by 10.1%. Brazil, Mexico and South Korea also experienced double-digit gains.

The company’s two premium brand groups accounted for 53.3% of the segment's sales, increasing from 39.7% in 2017.

"Once again we had a year of historic results for Viña Concha y Toro. In 2021, the company's financial figures are the result of corporate strategy that we have consistently pursued in recent years, with a focus on the value of our sales portfolio and the profitability of operations", said Viña Concha y Toro's chief executive, Eduardo Guilisasti.

In the Chilean domestic market, sales rose by 25% with a growing share owed to premium brands.

Premiumisation was driven by Casillero del Diablo Reserva and its line extensions, along with Diablo, Cono Sur Bicicleta, Marques de Casa Concha and Cono Sur Orgánico.

Guilisasti added: "Looking ahead to 2022, we are aware of the great challenges that exist for companies and individuals on a number of fronts. Along with hoping for a favourable evolution of the pandemic, and of the logistics crisis and an early peaceful resolution of the recent geopolitical conflict in Eastern Europe, we will continue to work with great commitment and confidence in the solid foundations of our company, which will enable it to face the challenges ahead and end this year as an even stronger company."

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