AUSSIE RETAIL GIANT TO ESTABLISH WOOLWORTHS CHINA TO DIVERSIFY FROM WINE
By Susan Lewis
Australian retail giant Woolworths Group has announced the establishment of Woolworths China to continue to promote the group’s China wine business through Summergate International Wine and will also bring fresh Australian grocery and food produce to Chinese consumers.
According to CEO of Summergate, Craig Aldous, this latest move is an important milestone and a challenge for Summergate to continue to move forward as one of the leaders in the Chinese wine trade.
Woolworths China will be operated under Woolworths' ExportCo, which will overlook the Group’s wine, food and supermarket businesses in China.
The Woolworths Group acquired Summergate International Wine in 2014, the company has since been operated under the Group’s drinks unit Endeavour Drinks.
The latest restructure plan reflects Woolworths’ intention of diversifying its businesses in China.
Aldous said that his Group decided on the restructure plan after prudent considerations with long-term developments in the Chinese market in its mind.
He added that with strong logistics support and financial investments, Summergate will continue to bring diversified and high quality products to Chinese consumers.
Aldous became CEO of Summergate in September last year. Under his leadership, Summergate has restructured its management and sales teams and has got rid of some non-performing brands in their portfolio.
He added that the business has stopped making losses and will hopefully generate profits soon.
(the writer can be contacted at: SusanLewis@thewinechronicle.com)
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