See this press release from Willamette Valley Vineyards! Exciting stuff!
(Turner, Ore. – May 28, 2010) – Willamette Valley Vineyards (WVV) (NASDAQ: WVVI), a leading Pinot Noir producer in Oregon, is pleased with Oregon Gov. Ted Kulongoski’s recent agreement with the Hong Kong Commerce and Economic Development Bureau to promote the sale of Oregon wines in Hong Kong and throughout all of China.
Erik McLaughlin, National Sales Director at WVV, is currently in Hong Kong accompanying representatives from the Governor’s office. McLaughlin was invited to join the delegation as a representative from the Oregon wine industry. He noted that Hong Kong is the most dynamic and rapidly growing wine market in the world.
“US exports to Hong Kong have increased five fold in just the past few years,” McLaughlin said. “Hong Kong has just overtaken London to be the No. 2 wine auction market in the world (after New York). It is remarkable that the government in Hong Kong has chosen to partner with Oregon and Washington with the signing of the wine specific MOU (Memorandum of Understanding on Co-operation in Wine-related Business) rather than other regions of the US or the world.”
According to the press release issued by the Governor’s office on Monday, May 24, Governor Kulongoski said: “Hong Kong has opened its door to the wine industry and Oregon is the first on their doorstep to take advantage of this opportunity with a formal agreement. With this agreement, we now have a concerted effort to tap into the purchasing power of Hong Kong and all of China, which will create more business opportunities for Oregon’s wine industry.”
Jim Bernau, Founder and President at WVV, said he is also thrilled with what the recent agreement could mean for future wine sales. Since entering the Hong Kong market in August 2009, the winery has sold nearly 160 cases of its Pinot Noir, Whole Cluster Pinot Noir and Pinot Gris. Additionally, the 2007 Riesling earned the only Gold Award for food and wine pairing at the 2009 Hong Kong International Wine & Spirits Competition.
“The President’s call for doubling exports in the next five years is a tall order, but with positive market changes for imports in places like Hong Kong there is a great opportunity for growth,” he noted.
In May, President Barack Obama’s Administration asked the Export-Import Bank to increase export financing for small business by more than a third, to $6 billion, this year. The goal is to double American exports by 2015. Large business dominates exports: The top 500 U.S. exporters accounted for 60 percent of the $1.2 trillion in exported goods in 2007, the latest period for which such figures are available.*
Scott Goddin, Director of the Portland Export Assistance Center, U.S. Department of Commerce, explained there were 6,000 Oregon firms involved in export in 2008. Goddin said it is estimated that 88 percent of these companies are small firms (less than 500 employees). Breaking the numbers down even further, of that 88 percent, he added that likely 90 percent are companies with 50 employees or fewer.
Willamette Valley Vineyards’ wines are distributed by Golden Gate Wine in Hong Kong.
About Willamette Valley Vineyards:
Willamette Valley Vineyards has been producing high-quality, sustainably grown Pinot Noir and other cool-climate varieties for more than 27 years – earning the distinction as “One of America’s Great Pinot Noir Producers” by Wine Enthusiast Magazine. Our mission is to create elegant, classic Oregon wines from the Willamette Valley Appellation while serving as stewards of the land. Founder Jim Bernau believes we are rewarded with wines that taste better when made from naturally grown wine grapes. Tending the vines by hand and using minimalist winemaking techniques in small-batch fermentations, we strive to capture the unique sense of place that comes from our soils.
We were the first to use natural cork in our bottles certified by the Rainforest Alliance to Forest Stewardship Council standards and offer 10 cents for any wine bottle returned to our tasting room for recycling. To reduce our carbon footprint, all company tractors and delivery vehicles run on biofuel – and we offer up to 50 gallons a month free to our employees for commuting to work. Willamette Valley Vineyards wines have been served at the White House, the James Beard House and are available at some the finest restaurants and wine shops throughout the world.
*Businessweek.com, April 22, 2010
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