INDIA: Sula Vineyards to open third winery
India's Sula Vineyards is planning to open its third winery by the end of the year.
Around INR45m (US$990,000) will be invested in the project, which is in addition to Sula's investment of INR200m to date. The winery will help the company meet the growing demand for wine in India. Sula has seen sales grow by 30% a year and has a target to sell 1.5m bottles this year, up from 1.1m in 2005.
To boost sales, Sula has also set up an import arm, named Sula Selections, which imports and distributes international labels from companies including Australia's Hardy Wines, Italy's Ruffino and Chile's Santa Rita.
Recent research points to growth opportunities for wine producers in Central and Eastern Europe and in Asia but establishing a wine culture among Asian consumers and coping with a price-led culture in...
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