COFIDES has extended a 770,000-euro loan to Shanghai Torres Wine Trading, the Torres Group’s subsidiary in China.

Torres Group is the Spanish winery with the widest variety of wine assortment and one of the leader companies in the industry worldwide. The company was established in 1870 and specializes in wine and brandy production and distribution. Sangre de Toro, Coronas, Viña Sol, Viña Esmeralda, Jean Leon or Más la Plana are some of the Torres’ most well-known brands.

Not only does Torres Group own productive plants in Spain (Penedes and Priorato), but also in Chile and the U.S. (California). Countries such as Russia, China or India are among the export markets in which Torres distributes its products.

The Group has been operating in China since 1999. Over 180 people work for the Chinese subsidiary nowadays. The Chinese company covers both the wine retail (shops, concessions within department stores) and the wholesale (hotels, restaurants…). Furthermore, the online selling platform – Everwines.com – has started operations recently.

In order to expand business in China, Torres has invested in new shops located in cities such as Shanghai, Beijing or Chengdou. The project has also required investment in IT systems, which amounts to over one million euros.