YesMyWine Buys Stake in AVL
May 05, 2017
YesMyWine, the Chinese online wine retailer, has purchased 15% stake in Australian Vintage Limited (AVL). It is a major boost for AVL which exports its wines to the Chinese market, with the help of Vintage China Fund, a partnership between AVL and YesMyWine. After this deal, Dixon Yuan, CEO of YesMyWine will become part of AVL Board.
According to Neil McGuigan, CEO AVL, it is an important step for AVL. It will strengthen its prior distribution channels in the $568 million Chinese wine market which is witnessing a growth of 50pc annually. Secondly, it will make AVL wines more accessible and popular and further improve the overall brand image of the company in China and outside.
About AVL
AVL is the second largest vineyard owner in Australia with brands like McGuigan, Tempus Two and Nepenthe under its name. It has a 10% share in Australia’s total annual grape production. Has over 2,700 hectares of vines under it. Common grape varieties such as Shiraz, Chardonnay, and Cabernet Sauvignon alongside not so popular Maestri, Prosecco, and Montepulciano are grown in the vineyards present in dominant wine regions of South Australia such as Adelaide Hills, Barossa Valley, McLaren Vale and Coonawarra
About YesMyWine
One of the largest online retail platform of China and world having over 6.6 million members. It has over 5000 wine products from 18 international markets. It has been named as a best online retailer of 2013 by Wine Australia. A subsidiary of Shanghai Moushi Trading Co.Ltd.Jaren Liu and Tech Sun are its founders.
