Gusbourne sales boosted as Brits still splashing out on designer sparkling wine
English sparkling wine maker Gusbourne expects sales to rise 17 per cent in the full year, as Brits continue to treat themselves to a bottle of fizz despite cost of living worries.
In an update this morning the firm told markets, sales growth for the full 2023 year will be £5m, up from £4.2m when compared with the 12 months before.
Despite economic woes, customers still wanted to splash out on a bottle of Pinot Noir and Rose, with Gusbourne reporting a 26 per cent rise in direct consumer sales.
Gusbourne wines trade from upwards of £40, but some of their more pricier lines can cost over £100.
Its tasting tours and events held at its estate in Kent also helped bolster earnings by 18 per cent to £2m.
UK trade sales, which represent nearly half of the group’s revenue, grew by 13 per cent to £3.4m helped by partnerships with luxury hotels and restaurants.
International sales also lifted seven per cent to c.£1.5m and are expected to account for around 23 per cent of total net wine sales.
Jonathan White, Gusbourne’s chief executive said: “2023 has seen the Group make further progress against our growth strategy as we continue to strengthen Gusbourne’ s position as the one of the UK’s most significant fine wine producers.
“These results have been achieved against a difficult macroeconomic environment, which ultimately resulted in more challenging trading conditions for the luxury goods sector in the second half of the year.”
He added: “Despite this backdrop we have continued to see significant consumer demand for Gusbourne’s wines with robust growth across all three of our sales channels, underpinned by the careful and continued investment in the brand and the commitment and dedication of our talented team.”