Hanssem has recently launched a wine import business to introduce Argentinean Wines at its flagship shops.
On Aug. 12, Hanssem said that the company signed an exclusive contract with Mendoza, in Argentina, to import and distribute five kinds of Argentinian Mendoza wines. The company’s spokesman said that Hanssem started importing wine last Sept. The list of wine that Hanssem is importing includes Las Perdices Malbec Ice, Las Perdices Malbec, Las Perdices Cabernet Sauvignon, Finca La Daniela Reserva Malbec, and Finca La Daniela Reserva Cabernet Sauvignon. These wines are among the most highly rated wines originating from Mendoza’s high-altitude wine regions of Lujan de Cuyo and the Uco Valley in Argentina.
Hanssem’s entry into a wine import business was triggered by the company’s involvement in the sales of household items, including wine accessories, at its flagship shops. As the sales turnover of household items at the company’s flagship shops increased, the company said it started to include wine opener and wine glasses in its inventory.
Hanssem differentiates itself from other wine importing businesses in that it distributes wines through its own distributional channels like flagship shops or the company’s own large retail stores rather than supplying them to wine bars or restaurants. The prices of the imported wines range from 35,000 to 70,000 won (US$29.63 to $59.26).
Explaining the background to limit the distributional channels to its own flagship shops and retail stores, Hanssem cited the company’s consideration to better meet customers’ convenience as the top priority rather than boosting sales.
The size of the wine market in Korea is relatively small, posting approximately 200 billion won (US$169 million), and the retail market is estimated to be less than 400 billion won (US$339 million). The revenue of the top performing company in the industry is known to be about 60 billion won (US$51 million).
Hanssem wine sales peaked in December, with sales of 50 million won for limited edition gift sets during the Christmas season.