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JSW Corporation: Big Sales for UK Sparkling Wine in 2016

PressReleasePing - January 10, 2017 -As New Year’s Eve celebrators around the world primed to lift a flute to say goodbye to 2016, the Department for Environment, Food and Rural Affairs said the U.K. had sold sparkling wines to 8 more nations in 2016 than in 2015. Sales of British bubbly also increased locally, with Marks and Spencer Group Plc reporting an increase in sales in its outlets of 100%. Waitrose Ltd. reported an increase of 50 percent in sales. “Major sparkling wine manufacturers in the UK are on track to meet their targets of a 1000% increase by 2020,”said Vivian Wang, Chief Economist at JSW Corporation. “2017 should be another tremendously successful year for UK bubbly makers.” UK vintners are pursuing an increase in sales to 2.5 million bottles by 2020 from 250,000 bottles in 2015. The soils in Sussex and Kent, which produces the bulk of sparkling wines, is similar to that of France and its Champagne area. Kent and Sussex are responsible for around 70% of manufacturing. According to sources, the top purchasers of UK bubbly in 2016 were France, Italy, Taiwan, America and Japan. The explosion in national sales also indicates that UK consumers might be able to look to the consumption oflocal wines to substitute imports from the EU in the event that they become costly following Britain’s exit. Sparkling wines came under scrutiny during the Brexit discussion when Foreign Secretary Boris Johnson told Italian Economic Development Minister Carlo Calenda that Italy will allow the UK access to the EU’s single market after it leaves the EU so as not to lose out on the exports of prosecco.

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