Under the leadership of Jorge Srougi, the new general manager of Coviñas, the company awarded the title of Best Cooperative Winery in the World by DWM, is embarking on a process of regeneration that will allow it to recover its pre-pandemic growth levels and normal business operations, both domestically and internationally.
Requena, 25 April 2023.- The AGM of Bodegas Coviñas took place this week. The Group has weathered a difficult year caused by economic uncertainty in the markets for a variety of reasons, such as: the conflict in Ukraine, the unexpected closure of China and a post-pandemic situation that continues to act as a drag on consumption, among others.
At the same time, the general increase in energy costs and raw materials, which rose by 60% in the case of glass, made this year one of the most difficult for the Group, which led management to apply strict cost controls and internal restructuring measures.
However, despite the current economic situation, exports have increased. This sector accounts for 80% of Bodegas Coviñas’ production, and new export markets have been added. Similarly, the hospitality sector in the domestic market is also showing signs of recovery, with a clear upward trend.
Bodegas Coviñas has taken advantage of this situation to update its brands and markets and carry out a global restyling that maintains the essence of its wines, while adapting their design and packaging to new consumers. This further underpins an expansive commercial strategy, led by the new general manager Jorge Srougi, which will consolidate the brand in international markets and return the group to its previous growth levels.
In December 2022, the Coviñas Board of Directors appointed Jorge Srougi general manager of the Coviñas Group, to lead this new phase, not only because of his background as a winemaker with more than 16 years’ experience in the sector, but also because his inside knowledge of the business made him the ideal candidate for the position. Other essential qualities were also highly valued, such as team management and commercial planning, aspects in which Jorge also has broad experience in the sector, having worked in commercial teams with other wineries in the Valencia Region.
In addition to the above, he has the backing of the more than 3,000 members of the Group, who represent more than 40% of the land under vine in the Utiel-Requena Denomination of Origin, and the committed support of the Group’s more than 50 employees who work tirelessly to implement a strategic direction that seeks to consolidate the brand in the market in terms of its local roots and excellent value for money. This is further supported by the management’s undertaking to continue investing to guarantee Coviñas’ bright future.