Major Japanese wine trader Enoteca opens fully-owned sales unit in Thailand
BANGKOK, NNA – Major Japanese wine trader Enoteca Co. has opened a sales unit in Thailand in its broader efforts to expand its business globally.
Enoteca (Thailand) Co., its wholly owned unit established on Monday, mainly sells imported wines at prices starting from 2,500 yen ($24) to hotels and restaurants in Bangkok and Phuket Island, spokeswoman Akiko Sano in Tokyo told NNA the same day.
Australian wines are particularly favored among Thai people alongside those from New Zealand and France’s Bordeaux region, as their features such as rich flavors stemming from Shiraz grapes suit the spicy local dishes, she added.
Enoteca, a 100 percent subsidiary since 2015 of Asahi Group Holdings Ltd., a major Japanese brewery and beverage maker, aims to achieve 1 billion yen in annual sales in the Southeast Asian country over the mid to long term, it said in a statement last Wednesday.
The domestic wine market in Thailand is estimated at $422 million and growing at 3-4 percent annually, with premium wines making up the vast majority of local sales, driven by demand from a number of foreign tourists, according to data compiled by International Wine and Spirit Research, a British research firm.
The Tokyo-based wine trader established its first foothold overseas in Hong Kong in 2008 and has opened a branch in Singapore and local units in Shanghai, Taiwan and South Korea besides Thailand, according to its website.
Enoteca’s sales outside Japan accounted for 20 percent of the total in 2019, the spokeswoman said. Sales in China, Taiwan, South Korea and Singapore grew from about 5 percent to around 60 percent last year from a year ago, the statement said.