LEOPARD’S LEAP WINES has concluded a major joint venture with Yangzhou Perfect Co. to dramatically increase the export of South African wine to China, one of the fastest growing wine markets in the world.
The partnership with Yangzhou Perfect, a division of Perfect (China) Co., will see nearly 2,9 million bottles of South African wine shipped to China by June 2012, Leopard’s Leap CEO Hein Koegelenberg said, adding that this represented a massive addition to the nearly 3,9 million bottles of South African wine shipped to China in 2010/2011.
The joint venture will be called Perfect Wines of South Africa and will be 51 percent owned by Yangzhou Perfect and 49 percent owned by Leopard’s Leap Wines.
The joint venture will own the L’Huguenot wine brand as well as act as a distributor for other wine brands including Leopard’s Leap, La Motte and De Klerk Presidential Blend.
“Three years ago we identified Asia as an export destination for our wines,” said Koegelenberg, adding that the growth in annual exports of South African wine from 1,2m to 4,5m litres in three years supported the decision to look east.
