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Fine and Rare wins royal trade award
Fine and Rare has been honoured with the Queen’s Award for International Trade following its impressive growth in fine wine exports to the Far East and the US.
Over the past three years the broker has increased its exports by 153% to £36 million, which now represents as much as 68% of its total sales.
Fine and Rare launched the first European website dedicated to fine wine in 1996 and went on to develop WineDesk – a proprietary trading platform which constantly updates prices and availability on over 34,000 wines which can be bought and sold through a team of over 20 wine brokers based at its headquarters in London.
In 2010, the company completed over 17,000 transactions for its customers, buying and selling around 50,000 cases of fine wines to people all over the world. According to the broker, the average price of a bottle of wine sold by the business increased from £36 in 2004 to £94 in 2010.
“We have a long-term strategy to further develop the Asian markets with China now a significant buyer and to meet growing demand from newer markets such as India and Brazil,” said Mark Bedini, CEO of Fine and Rare.
“Increasing sales in Europe and signs of recovery in the US mean we will continue to drive our sales efforts into all markets confident of achieving further and continuing export growth on top of our very strong domestic results,” he added.
Patrick Schmitt, 21.04.2011