Chapel Down reveals record sparkling wine sales in 2022 trading update
English wine producer Chapel Down has published an unaudited trading update for the year ended 31 December 2022, with strong sales growth underpinned by a premiumisation drive.
Chapel Down said its Net Sales Revenue, which does not include duty, was up 10% for the year ended 2022 at £15.6 million versus £14.3 million for 2021.
There was considerable growth in the producer’s traditional method sparkling wine category, with sales revenue up 53% on 2021. Chapel Down considers this to be in line with its wider premiumisation strategy. It certainly tallies with the surging interest in English sparkling wine currently taking place.
Chapel Down sold a record 790,000 bottles of traditional method sparkling wine in 2022, up significantly from the 522,000 sold in 2021.
Elsewhere, off-trade sales rose 9% despite the challenges of the 2021 harvest leading to a shortage of still wines. On-trade revenue jumped 34%, credited to an increased number of distribution outlets and brand support.
Direct to consumer (DTC) sales accounted for 30% of total revenue with eCommerce channels and Chapel Down’s vineyard shop and tours remaining a key part of its wider strategy, the firm said.
“We are delighted by the sales performance achieved in 2022, driven by our premiumisation strategy which supported stellar growth in our traditional method sparkling wines sales,” commented CEO Andrew Carter.
“We look forward to updating the market on the continued growth in the profitability of our business in our full year audited results. This performance, and the excellent harvest we enjoyed in 2022, means we carry momentum into 2023 and are on track to meet our target of doubling the size of our business by 2026.”
Chapel Down said its market share had increased from 27% to 31% in 2022.