Spier Wine Farm is one of only a few wineries in the country to have grown despite the tough economic conditions of the past few years. We caught up with Spier CEO Andrew Milne to find out more about its business strategy.
The South African wine industry has struggled with severe challenges over the past few years, resulting in only one in seven wine producers making a profit. Spier Wine Farm belongs to this small minority, but, even more impressively, it has achieved this success with socially and environmentally responsible business practices.
Andrew Milne, who took over as CEO at Spier 10 years ago, ascribes this to the company’s strong brand. “Spier Wine Farm has been going since 1692, making it one of the oldest wine estates in the country. Great efforts have been made to restore the old farm buildings, and we are investing in landscaping to create an environment that better resembles what the farm used to look like back in the day.
“While history creates a great cultural experience, the biggest selling point is the brand’s delivery on quality. People who drink our wines or make use of our hotel or conferencing facilities are used to getting good value. That is most probably the secret to any successful business; you have to offer both good quality and value in your products,” he says.
At the same time, the brand is associated with ethical business principles. “Spier has been investing in sustainable farming practices and the local community for a long time,” says Milne. “For us, ethical trade is a part of our DNA, not a corporate responsibility or a marketing tool. Our community projects and sustainability goals are budgeted for and set at the start of each financial year. They are an integral part of the way we do business.”
Waste management
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
