Grupo Marqués del Atrio has set up a UK subsidiary in a bid to grow the Spanish winemaker’s sales in its second-biggest export market.
The company wants to account for 10% of the UK’s Rioja category and expand the range of wines it sells in the country to take in denominations such as Navarra and Ribera del Duero.
“Spain is a highly-valued market in the United Kingdom and having great wines not only from Rioja but from the main Spanish denominations of origin offers us the potential to reach an increasingly demanding segment of consumers,” Marie Knight, the new director of the UK subsidiary, says.
The London office is Grupo Marqués del Atrio’s third international site. It also has subsidiaries in the US and in China. The company is considering offices in Canada and Mexico. “This is a medium-term objective, which will not be before 2024,” a spokesperson said.
This year, Grupo Marqués del Atrio, set up in 1889, is forecasting a turnover of “close to” EUR60m (US$61.1m). Asked what the firm’s turnover was in 2021, the spokesperson replied: “Before the Covid-19 pandemic, the company’s turnover exceeded EUR40m. We have now recovered those figures and the course of this year invites optimism.”
He added that “in two or three years” the group wants to see exports account for almost 60% of its sales volumes, up from its current level of 40%. At present, Germany is Grupo Marqués del Atrio’s largest export market.
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