Collaboration and partnership is way forward for global wine industry, says Vinexpo’s Robert Beynat – 11July13
Written by Richard Siddle
A key consequence of the 2009/2010 global financial crisis has been the willingness of international wine players to work far more collaboratively and for the world wine industry to act far more as one, according to Robert Beynat, chief executive of Vinexpo.
A key consequence of the 2009/2010 global financial crisis has been the willingness of international wine players to work far more collaboratively and for the world wine industry to act far more as one, according to Robert Beynat, chief executive of Vinexpo.
Speaking on the opening day of the 2011 Vinexpo exhibition in Bordeaux, which is set to attract up to 50,000 visitors from over 135 countries, Beynat said he expected to see far more conversations at this year’s show between companies “on how they can work better together” particularly when investing in new markets.
The significance of emerging markets across Asia, and the huge potential that still remains in North America, means companies are having to join forces and share resources to a far greater extent than ever before, said Beynat.
“The industry has never been more global, but it has also becoming more consolidated,” stressed Beynat. The trend was happening before the financial crisis, but the economic fallout in the last two years has simply “speeded the process up”.
The cost of “investment to participate” in many of these new markets, particularly in Asia, was so high that it has made good business sense for companies to work closer together. “We are seeing the industry acting like a real industry,” he explained. “The people of Champagne have been doing that for over a century.”
“This is not just an agricultural product any more. It is a global industry and we have to work together.”
He used the example of Spanish producer, Torres, that has an office in China to represent not only its own products, but also those of a number of other major international wine players like Baron de Rothschild and Symingtons.
He warned the global wine industry, however, to not get too taken in by the potential hype of China. Whilst it still represented one of the key growth markets it is was not the golden ticket that many have been lead to believe. Japan, he said, was still the area’s biggest market and that wine investors should also be looking at markets such as Korea, Taiwan and Vietnam.
“If I had 100 euros to invest then I would not put half of them in to China. I would perhaps invest say 15 euros there, but I would also ensure I invested 15 euros in the United States and Canada, and another 15 euros in the Nordic markets and also my local market,” explained Beynat.
“Yes, there is almost 100% increase in consumption in China, but it is still tiny in comparison to other markets. But we are very excited about the whole Asian market and that is why we will have our Vinexo Asia in Hong Kong in May 2012.”
He said that despite the financial crisis overall wine consumption around the world is growing on average. But the pressure on wine companies to manage their stocks and inventory better means there is far better control over overall wine production which is remaining in line with demand. The lessons of oversupply in countries such as Australia are being heeded elsewhere in the world and Beynat stressed the need for that to continue. “We are at the right level now and we need to maintain that balance.”
As for this week’s show Beynat said he was confident it would hit its target of around 50,000 visitors. The exhibition has attracted 2,400 exhibitors from 47 countries and Beynat said he was “relieved” that many had chosen Vinexpo as the one exhibition they were looking to support in 2011. “Last year we were a little nervous during the financial crisis about how bookings would go, but we are full once again.”
Source: http://www.harpers.co.uk/news/news-headlines/10669-collaboration-and-partnership-is-way-forward-for-global-wine-industry-says-vinexpos-robert-beynat.html
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