Tough news for Kiwi wine lovers
Delegat Group, the team behind Oyster Bay wines, has had to lower its sales and profit forecasts for this year after a curveball from the US.
Earlier this month, the US slapped a 10% tariff on imported wines, creating a lot of uncertainty for Delegat’s American distributors. As a result, the company now expects to make between $47M and $50M – down from their earlier prediction of $55M–$60M.
Despite a solid nine months up to March, this unexpected tariff has forced Delegat to cut its global sales forecast by 5% – and sales are now tracking 12% lower than last year.
The good news? Oyster Bay still remains a top pick among US wine drinkers, and Delegat is working closely with its distributors to steady the ship.
They’re staying positive and focused on navigating through this rocky patch. Cheers to that!
