Vinexposium CEO has revealed that the company will not revive Vinexpo Shanghai due to market saturation from existing wine shows, as it shifts its focus to the Hong Kong edition to target China and the Greater Bay Area.
Speaking to Vino Joy News, The CEO of Vinexposium Rodolphe Lameyse explained that the decision to host Shanghai edition was a legacy from his predecessor, and given the Chinese metropolis’ crowded event landscape, which includes China Import and Export Expo (CIIE) and ProWine,”I don’t see a lot of opportunities in Shanghai to grow our position,” he stated.
The now devised Vinexpo Asia, which will alternate between Singapore and Hong Kong annually, in his opinion has a clear strategy to target Asia and China. “For me, the strategy of Vinexpo in Asia is very clear. We have two shows that are strong and powerful. We launched one show last year in Singapore, which covers all of Asia. Additionally, we have Vinexpo Hong Kong, which focuses more on Mainland China and the Greater Bay Area,” he explains.
He also highlighted the logistical advantages of focusing on Hong Kong, noting its proximity to Shanghai—just a 2.5-hour flight— similar to the time of a train journey from Lyon to Paris in France.
Addressing the Chinese market, Lameyse, expressed robust optimism on the market, countering the prevailing global pessimism with a belief in China’s enduring economic and demographic potential. “China is one of the most powerful economies in the world, whatever it takes, even if it’s slow at the moment but it’s still one of the largest economies in the world,” he said with conviction before adding. “And number three is very far behind.”
“It’s slow at the moment,” he admitted acknowledging the impact of the pandemic and economic headwinds but he quickly drew to the country’s large population base and consumption vitality as reasons to be optimistic.
To succeed in China market, he notes that it’s essential to focus on long-term strategies rather than short-term setbacks. “If you take a span of 10 years, I think it’s still the largest in terms of consumption vitality compared to the rest of the world. So I refuse this pessimism. I think we have to be cautiously optimistic. That’s important. Look to the future. But not having a short-term view.”
“So many times CEOs, salespeople, marketers, they have a short-term view. I think consider long-term relationship with your partners,” he added, which will compel wineries to change how they do business in China.
One of the key changes brought about by market consolidation as he observed is that the local Chinese market is getting more fragmented and localized. “The relationship that the wine merchant, the wine producer has with the Chinese market has to evolve. Your presence has to be spread out rather than replying on one or two importers.”
Lameyse also touched on the shifting cultural dynamics within China, particularly among younger consumers who are gradually moving away from traditional beverages like Baijiu in favor of wine. This shift represents a significant opportunity for the wine industry to expand its footprint in China. “I do hope that at some point, especially with the younger generation, there will be more interest in wine or another beverage during dinner,” he said, illustrating the potential for growth in new consumer segments.
“China is one of the most powerful economies in the world, whatever it takes, even if it’s slow at the moment but it’s still one of the largest economies in the world,” he said with conviction before adding. “And number three is very far behind.”
Hong Kong: Entry Door to GBA
The conversation then pivoted to Hong Kong’s role in the wine trade. The sentiment among wineries about the upcoming Vinexpo Hong Kong scheduled for May 28-30 was a mix of excitement and cautious optimism, he told Vino Joy News. The upcoming May edition marks a significant return since there hasn’t been a major trade show like Vinexpo in Hong Kong since 2018. “People know Hong Kong. They have fond memories of Hong Kong. They know about the previous trade shows. So they are very excited to come back,” said the CEO, capturing the prevailing enthusiasm for reengaging with the Asia-Pacific market.
However, there’s also an undercurrent of apprehension regarding how much has changed since their last engagement. He compared the situation to reuniting with a long-lost date: “You are excited. But at the same time, you are like, ‘OK, will this person recognize me?’” This reflects the broader uncertainty about whether the Hong Kong market has maintained its allure as a premier wine trading hub amidst evolving regional dynamics.
Dismissing these concerns, Lameyse remains optimistic, suggesting a broader perspective is necessary. “You know Hong Kong used to be many years ago, the first entry of the Chinese market or the wine. And let’s be honest because smuggling was the big thing,” he spoke frankly but pointed out significant changes, emphasizing the improved connectivity within the Greater Bay Area—Macao, Shenzhen, and others—making it easier to access the mainland market through Hong Kong.
“It’s the entry door to Greater Bay Area,” he notes, adding that convenience of travel following the newly introduced visa-free policy for countries including Germany, France, Italy, Spain, and the Netherlands. “Everything is made easier in general for travel and business, so this is this is an opportunity also for Hong Kong to remain a stronger platform for business,” he remarks, indicating that despite past challenges, the city remains a vital part of Vinexposium’s Asian market strategy.
Looking forward to the Vinexpo Hong Kong, Lameyse shared the organization’s strategies to ensure the edition remains relevant and appealing. The event aims to reconnect with the market, emphasizing direct interactions with winemakers and wine merchants, a core aspect of Vinexpo’s appeal. “This is the market where you are going to meet the winemakers and wine merchants directly, not intermediaries,” he asserted, underscoring the importance of personal connections in the wine industry.
Moreover, Lameyse discussed plans to enhance Vinexpo Hong Kong’s appeal through offerings such as UGCB tastings, masterclasses and forums.
As Vinexpo Hong Kong gears up for its highly anticipated return, the sentiment among organizers is clear and heartfelt. The 2024 edition of Vinexpo Hong Kong marks a pivotal moment for reconnecting with the Asian market—a reunion that has been eagerly awaited since the last major gathering in 2018.
“We missed you, we really missed you since 2018. We missed you in Paris,” Lameyse reiterated. “So we are glad to meet you again,” he enthused, capturing the spirit of a long-awaited reunion.
