|
Retailers drop middlemen, open outlets to cut costs
April 01, 2008
|
|
| Good news is here for those who think buying wine in Korea will put them in the red. A Homeplus discount store representative announced yesterday that the store will substantially lower wine prices starting this Thursday. The move will cut prices of 25 different varieties of foreign wine by up to 45 percent by removing the middleman and increasing direct transaction with vineyards. In order to achieve this price reduction, the company sent its own wine buyers to around 10 prominent suppliers in France, Chile, Australia, Argentina and Spain and negotiated deals directly, Sunny Jung, a public relations manager at Homeplus, said. “By law, imported wine needs to go through a licensed importer and a licensed dealer before it can be sold in stores,” Jung said. “In order to lower wine prices, although we went through importers and dealers, most negotiations and transactions were done by Homeplus employees, which cut intermediary costs.” Rio Bueno merlot, sauvignon blanc and cabernet sauvignon, developed by the Concha y Toro winery in Chile, which used to be 8,900 won ($8.97), now cost 4,900 won. Australia’s Hardys chardonnay will get a 14 percent price cut, from 7,950 won to 6,800 won. The price of high-end wine, including Chateau Soudars Cru Bourgeois will drop by up to 30 percent. The wine buyer at top discount store E-Mart also said the store has been making efforts to increase direct contact with suppliers. “With the wine market getting bigger, middle- to lower-price wine is extremely popular and direct transactions will become more abundant,” Shin Geun-jung, E-Mart’s buyer, said. In step with the public’s preference for middle- to lower-priced wine, several wine outlets have opened around Seoul. These stores buy wine in bulk, then sell bottles at lower prices. One such outlet, La Vigne in Gyeonggi, sells around 1,500 varieties of wine for up to 40 percent less than wine shops in Seoul. Other manufacturers, such as Shindong Wine, are cutting costs by maturing wine in Korea themselves. By Lim Mi-jin JoongAng Ilbo/ Cho Jae-eun Staff Reporter [jainnie@joongang.co.kr] |
|
