“Our business increased by 35% to 40% in the first seven months of the year, our highest growth ever. Still, the growth pace slowed down after June and we expect to end the year with growth of 25%,” says Dan Balaban, the entrepreneur who owns Davino together with oenologist Bogdan Costachescu.
Balaban says the company’s business has been growing year by year, regardless of the state of the economy, but the growth rate was 5% to 15%.
Some steps the company took and the rise in consumer spending will help it achieve 25% growth in 2016.
“We can also see that the entire wine market is growing. As exports account for only 4% of the domestic production, we may say we have a strong yet competitive domestic market.”
Wine consumption in Romania has been rising year by year.
Wine drinkers have reached a certain maturity, with more and more of them moving from entry level to medium and premium wines, Balaban says.
This is why more and more local winemakers have introduced premium brands in the past few years and small and medium-sized wineries specializing on premium wines have started operations.
(English version by Loredana Fratila-Cristescu)