Zhoda Investments scales up its wine operations
Zhoda Investments' wholly owned subsidiary Black Island Winery is expanding rapidly with a production increase of 75% following the 2022 harvest.
"We are very glad that our marketing strategy for the wine operations has been so successful that we are able to continue to scale up production. We are well positioned on the market. There is a strong demand for premium wines made on local Dalmatian grapes", says Robert Karlsson, CEO of Zhoda Investments.
Production increase of 75%
Zhoda Investments founded Black Island Winery in 2018. Black Island Winery and the sister winery Testament Winery together form Zhoda's wine operations, which are located in the coastal region of Dalmatia in Croatia.
During the 2022 harvest, Black Island Winery scaled up production to 140,000 bottles. This is a significant increase of 75% compared to 80,000 bottles in 2021. Whereas the sister winery Testament Winery holds a 50-hectare vineyard, Black Island Winery purchases all its grapes from local grape farmers, thereby achieving a fully scalable business.
High demand and strong brand
The decision to increase production was made based on the strong market demand for the company's wines that has even exceeded the amount of wine that the company had available for sale. During autumn 2022, the winery has rationed its stock of wine in order to secure deliveries to customers although at a lower level than demand. The new vintage 2022 is expected to be ready for the market in February/March 2023.
Black Island Winery has established a strong brand and continuously strengthened its market position. The main market is the HORECA segment (hotel, restaurant café) in Croatia. Croatia is one of the original wine-producing countries boasting the world's oldest continuously cultivated vineyard, which is included in UNESCO's world heritage.
Watch the movie from the 2022 harvest
You can watch a movie from the 2022 harvest through the following link https://youtube.com/shorts/ytXF-wbTcD4
Wine club Testament Vänner
All Swedish wine lovers can follow Croatia's first Swedish winery's journey towards creating Croatia's best wine by joining the wine club Testament Vänner. Application for a free membership can be made on www.testamentvanner.com.
For more information, please contact:
Robert Karlsson, CEO Zhoda Investments AB
+46 709 565 141, [email protected]
www.zhodainvestments.com
About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. In the coastal region of Dalmatia in Croatia, Zhoda owns and manages Testament Winery and Black Island Winery. Based on indigenous organic grapes and a two-thousand-year-old wine tradition, it is Zhoda's award-winning winemakers' objective to create Croatia's best wine and to become the country's leading exporter of premium wines. The vision is to reach a production of one million bottles per year. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. For more information, visit www.zhodainvestments.com.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
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