Wednesday, April 5, 2017

Zonin not happy about Chinese market

Zonin: We continue to invest, but in that market do not see the light by Italian Wine & Food in China

10 million more for Zonin 1821, which closed 2016 193 million euro (+ 3.8%).
[…]
Less brilliant the situation in China, where Zonin has opened its third overseas subsidiary after those in the USA and the UK.
“I’m not happy, neither for us nor in general for Italy. Chinese market to Zonin worth 1 million euro against 63 million dollars in the US, and it is definitely too little. But it is the Italian wine to be stuck, despite the 20% increase achieved in 2016, yet the +20% of nothing is always little. We continue to invest, but in that market do not see the light” says D. Zonin, president of Zonin 1821.

Read the full article [ITA]