Hong Kong’s Burgundy specialist L’Imperatrice is planning a public listing on Hong Kong Stock Exchange, banking on consumers’ blistering demand for Burgundy and local consumers’ expanding disposable income.
According to Chinese media reports, Burgundy Empress Holdings Limited has already filed for listing on the exchange board. In its filing, it stated that its revenue amounted to HKD 205 million (US$26.1 million) in the fiscal year of 2019, majority of which came from Burgundy wine sales.
When reached by vino-joy.com, L’Imperatrice confirmed that it is indeed linked to Burgundy Empress Holdings Limited.
Known as a Burgundy specialist in Hong Kong, the merchant firmly staked its fortune on the wine.
Its sales of Bourgogne wines amounted to HKD 153 million (US$19.5 million), based on the 2019 fiscal report, accounting for 73.3% of its overall revenue.
Premium wines in particular are the backbone of its sales, according to the company.
Wines priced above HKD 1,000 (US$127.5) a bottle made up 82% of its total sales volume, which is 103,685 bottles.
Wines priced above HKD 50,000 (US$6,371) a bottle generated HKD 53.95 million in sales during the period, accounting for 27% of its overall sales.
Hong Kong is considered a premium market for wine, where more than 50% of the city’s total wine sales come from top end wines, according to IWSR.
Between 2019 and 2023, Hong Kong’s per capita disposable income is projected to grow 3.9% to HKD 471,000, laying the ground work for further wine growth.
Founded by Julien Froger in 2009 right after Hong Kong eliminated wine tax, L’Imperatrice is counted as a smaller scale wine merchant in Hong Kong, taking up 4.5% of market share in the Asian wine hub.
Top five merchants in the city include Watson’s Wine, Kerry Wines, Jebsen Fine Wines, Telford and Enoteca, and together they take up 44% of the city’s wine market share.
It’s not immediately known when the listing will be approved.
A few wine merchants have been listed in the city including Madison Fine Wines, Wine’s Link as well as Chinese winery Grace Vineyard.