Armit Wines reports positive results following InVivo takeover
Armit Wines has reported strong sales for the last six months, including a 15% rise in the last quarter and it predicts it will reach £30 million turnover in the next five years.
The UK wine merchant said sales increased by 6% over the last six months and 15% over the last three months.
The news follows the takeover by French agricultural co-operative group InVivo, two years ago. Since this date Armit has made several changes to its business strategy and rationalised its wine portfolio.
InVivo managing director for Europe and Business Development, Philippe Leveau, said the link with InVivo has been good for business.
He said: “Armit Wines is a key part of the InVivo Wine business model as a leading fine wine merchant in the UK. Fine wine is a strategic part of InVivo group’s strategy. Since the take over we have implemented radical changes in the structure of Armit Wines that will allow the group to deliver the excellence and quality of execution that fine wine demands. We can confidently say that we have now the strategy, vision and resources to deliver this at Armit Wines.”
He noted the positive results were also helped by a strong Bordeaux en-primeur campaign, which delivered an uplift of 30% compared to last year.
He said: “Armit Wines has a strong core of Italian and other European producers and will continue to be a global wine merchant. We are proud to represent some of the world’s most iconic wineries and we will continue to scout for the next generation of wine stars, in the new and the old world. In particular, France is an exciting region where we see untapped potential for growth. Armit Wines has an impressive brand building track record and InVivo Wine is offering the tools and stability to continue this legacy.”
InVivo now owns 100% of Armit Wines, following the acquisition of the shares of a minority shareholder in June 2019.