The joint venture (JV) will be called 'Perfect Wines of South Africa' and will be 51% owned by Yangzhou Perfect and 49% owned by Leopard's Leap Wines. The wine will be distributed via the 5000 outlets of Perfect (China), a consumer product and health food company that recently branched into wine. The JV will own the L'Huguenot wine brand and act as a distributor for other wine brands, including Leopard's Leap, La Motte and De Klerk Presidential Blend.
"Three years ago we identified Asia as an export destination for our wines," said Hein Koegelenberg, CEO of Leopard's Leap, adding the growth in annual exports of South African wine from 1.2 million to 4.5 million litres in three years, supported the decision to look east. He estimated that Leopard's Leap and La Motte, of which he is also the CEO, are responsible for about 10% of South African wine exports to Asia.
Perfect (China) president Woo Swee Lian said he also saw the potential of South African wine in China. "I see the potential of quality wine from South Africa. The base is still small, but I want to be part of this growth," said Woo. "I think the ability to provide consistent supply at reputable quality, is to the advantage of South Africa," he concluded.
