The founder of "Iago's Wine" talks about the company's results for 2023 and notes that the winery sold the wine in full on exporting markets. According to Iago Bitarishvili, 2023 was one of the most difficult years due to climatic conditions.
"We are focused on the exports with 100%. We exported 100% of the 2022 harvest to international markets. However, as for 2023, it was very difficult due to the climatic conditions, so we are hoping that this year will be better in terms of harvest," Bitarishvili notes.
The winemaker also talks about the price of Georgian wine abroad, which increased by 41% in 2023 compared to 2022 and amounted to USD 2.89. As Bitarishvili says, in order for Georgian wine to occupy a place in the high-price segment, it must work on quality. According to him, small wineries manage to sell wine on international markets almost 5 times more expensive.
"When we talk about the price, to some extent it is determined by the market, which has a 65% share in exports. However, I believe that we should look at the issue in a complex way. If we want to occupy a place in the high-price segment - then we need to work more on the quality that is increasing every year, although there is still a lot of work to be done. We especially have work to do in terms of vineyards.
We should not expect that Georgian wine will be sold in a higher price segment than European wines.
Small wineries manage to sell wine 4-5 times more expensive than the average export price, but this is a small share. It needs high quality and good marketing activities.
If we don't focus on the high-price segment from the beginning - then it will be more difficult for us", says the winemaker.
