Cork producer accuses industry of suffering from "Kodak syndrome"
Cork producers are failing to accept that the market has changed and progressed beyond natural cork, according to a leading closures manufactuer.
Vinventions’ vice president of sales and marketing for Europe Fabrice Chevallet, accused the industry of suffering from so-called “Kodak syndrome”
Twenty years ago cork dominated the closures market, accounting for almost 100% of closures, but now accounts for aound half of that.
"They are suffering from Kodak syndrome as the market has changed and they are having a hard time recognising these changes,” Chevallet told Drinks Business. “We exist as a company because the market started wanting different things. The big bang has already happened and the closures market will continue to evolve so we have to evolve with it. More producers are coming to us and are asking for customised closures and are happy to pay more for the bespoke service."
Chevallet said he believed that the millennial generation’s drinking habits will start to shape the wine industry. Most wine is drunk on the same day of purchase, he pointed out, and millennials want wine for immediate consumption.
"This mentality will be very challenging to premium wine producers in the future. Consumers are going to move increasingly towards alternative closures to natural cork and even alternative packaging like bag in box."
Vinventions, formerly known as Nomacorc until the company changed its name last year, accounts for 14% of the total closures market and is the second biggest producer in the world after Amorim.