London-based investment company Amphora has brought in Cecilia Oldne, an investor in Sula wine firm, to oversee its business in India.

Sweden-based Oldne has been associated with Indian wine company Sula since 2007, and also represents the Sweden-India Business Council in India.

“Amphora builds, manages and stores bespoke fine wine portfolios for collectors, investors and enthusiasts in London. They have investors from India who invest in fine wine which is stored in London for many years. With my appointment, Amphora will have direct engagement in India. As managing director of South East Asia, I have responsibility to manage business of Amphora in India,” Oldne said.

The appointment took place during the STHLM Tech Fest here. She said India at present does not make fine wine because of a lack of awareness in the market and tax issues.

“People in Russia and many in China have started buying fine wine but production is less compared with demand. Investment in fine wine at present gives an annual return of around 15 per cent so money can be doubled in about six years,” Oldne said.