Helping provide players in all areas of the wine supply chain with the in-depth knowledge required to operate in the Greater Chinese market, this series has been recognized internationally as a key industry resource. See more — Click Here. But the bitter truth we critics must face is that, in the grand scheme of things, the average piece of junk is more meaningful than our criticism designating it so.
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A Chinese report in "Legal Daily" said that this was not new, since many people files false declaration and forge fake invoices in order to achieve a lower duty payment. As of lately, the China government had been cracking down on these illicit activities and so far there have been some mixed successes. One thing for sure that it is highly recommended for businesses to follow the legitimate importing channels to China. The recent dip though dispelled the myth of the unassailable Lafite, bursting the huge bubble that has grown with insatiable demand from the Chinese and money from speculators and traders.
Chateau Lafite , once highly valued due to the auspicious Chinese character "Eight" etched on the bottle, was by far the biggest loser, losing nearly half of its value since its peak on March The flip side of the coin is that Chinese suppliers of forged Lafite bottles, labels and corks had been hugely affected with some reporting zero orders for year Some industry observers still anticipate a further drop on the fine wine market, warning that this is just a start on the long road of price adjustments.
In China, many have started to venture out of Lafite and top growths, and the Chinese consumers have been maturing rapidly in their tastes and also spoiled with the sheer number of choices in the market. One of the good news from this aside from cheaper wines, is that the vast Chinese underground industry of fake wine making and forgering had been hit hard. It will be quite some while before forged Lafite and copycats like "King Lafite", "Lafite Dynasty" flood the markets again.
China and Hong Kong wine consumption combined grew by a third in the period between and , continuing the phenomenal growth in the past. Foreign wine producers facing with a weak home economy and saturation of domestic and the usual markets have been very eager to ride on the trend in China. Many is convinced that the potential is still huge despite the growth in recent years, as China wine consumption per capita is only 2 litres, compared to the French which consumed 50 litres each.
The study also announced USA as the largest wine consuming nation, with a per capita consumption of around 13 litres. While these markets are large, none are as exciting and profitable as those in China. Exponential growth is forecasted, with a further 54 percent rise between and Meanwhile the global wine consumption growth rate is also expected to grow modestly for a rate of 6.
The results came as a direct testament to the fierce competition foreign made wines pose to the relatively young and underdeveloped China market.
Wine wizards reflect a growing appreciation of the grape in Asia - China - uwujywym.gq
A rethink of existing strategy is underway, where Dynasty's distribution network and sales channel are reorganized. The company plans to increase its direct sales outlet from the existing 60 to over in the end of Huang, executive director of Dynasty Fine Wines, is confident that these changes would lead to a promising improvement of the corporate financial results in the near future.
A recent Bordeaux top growths wine tasting event in China had been flooded with visitors instead of the as previously anticipated. Some may guess that the event was held in the wealthy coastal region of Shanghai, maybe Guangzhou, but in reality the venue was in Chengdu, a city in the western region of China far away from the coast. Eye watering profit margins and potential for growth had attracted many to the wine business, and the battlefront have also been pushed westward, from the 1st,2nd tier coastal cities to the inland 3rd, 4th tier ones.
This had the effect of reshuffling and redistributing profits from the wine value chain to both new and existing wine distributors, importers and wholesalers. Guangzhou, the biggest wine consuming market in China, is still the major trade platform for imported wines.
Miss Shen, COO of the organizer of Guangzhou Interwine Exhibition, expressed that while large and renowned wine producers could secure importers and sales channels with relative ease, many small to medium size wineries had been struggling with the unfamiliar Chinese market. They would prefer to go further inland instead of competing in the already crowded major cities.
Sensing better opportunities, some lesser known wine producing regions had been actively organizing events to promote and educate in 2nd or 3rd tier cities with support from the local governments.
The unexplored inland cities is the way to go for new comers to the Chinese wine market that aims for higher margins and lesser competition. Celebration ceremony kicked off by Mr. Joey Yung Hong Kong Cantopop singer. The concert featured Mr. They will join a group of visually impaired persons and surprise guest performers whose voices will guide you into a world of complete darkness. Hong Kong is chosen after the first Wine Future held in Rioja, Spain at , to reflect its growing importance in Asia?
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The 3 day event includes talks given by distinguished industry experts concerning the challenges and future of the wine industry. The highlight of the event is a series of expert guided tasting, with one conducted by Robert Parker himself, to showcase the future rising stars of Bordeaux dubbed as "The Magical 20".
Wine wizards reflect a growing appreciation of the grape in Asia
It would be a great opportunity for industry? Over premium wineries would also be exhibiting their wines, making this one of the most prominent trade-shows to date.
Quoting Robert Parker, "?? This year's concert picks off from its predecessor's huge success in , which is a first of its kind as singers perform in complete darkness, where sound and music is the sole focus to an undistracted audience. The sponsorship of the past and upcoming "Concert in the Dark" held at August is the result of the company's effort to express its support to the visually-impaired community. Through our sponsorship, we hope to do our part towards promoting corporate social responsibility and lifting awareness towards the disadvantaged groups.
Please join us in supporting this meaningful event.
More event and ticketing information could be found at www. A mysterious buyer from China is responsible for the purchase. This 6-Litre bottle of Latour is of a more unusual bottling format. However so, the high price it fetched has more to do with the recognition of its provenance. In most other cases, wines with such old age tend to be less recognizable, thus lowering the potential final bid. The vintage is also one of Chateau Latour greatest wine, owing to the spectacular harvest of grapes at that particular year.
Based on Christie? The true identity of the Chinese buyer is still a mystery. This is their 15th auction event since the setup of their Asia headquarters in HK. It was estimated that the total value of the plus lots of fine wine for auction exceeded HKD 80 Million. The wine auction house is the world?
The fame of Bordeaux and Burgundy wines on display has lured many keen bidders to the auction. John Kapon, the auction house director, said that the reason for the auction to be held in HK again is because of the company? He also mentioned the rapidly rising amount of experienced wine collectors in the region.
The company will strive to provide only the best wines out of respect to their passion. He also believed that French wine is the market leader of the global fine wine market, and still is the best producer of fine wine in the world.
But other regions such as California and even Australia have been catching up with their own world-class wines. Aside from minimizing application of pesticide and fungicide on their vineyards, the producer also strive to improve organizational sustainability, according to DBR? A portion of DBR?
The vineyard manager Jean de Roquefeuil says that while he is satisfied with the current results after 2 years since it first started, he is not sure whether it would work so well under a greater threat of mildew in high risk years. Learn more and compare subscriptions. Or, if you are already a subscriber Sign in.
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