Asia's Top 10 Wine Importers by Revenue Ranked - Page 5 of 11

No. 7. COFCO Wine and Wine

Revenue: US$ 103.7 million (2017 data)

Country: China

COFCO Wines & Wine, established in 2014, is the wine and spirits importing division of COFCO, a major state-owned food processing company in China. The company offers a diverse range of products, including imported wines, spirits, and premium Chinese liquors, with a portfolio that spans 21 wine-producing countries, 169 wine regions, 511 brands, and over 3,000 wines, including popular brands such as Treasury Wine Estates’ Penfolds Max, France’s Chateau de Viaud and Grand Sud, Chile’s Concha y Toro, Spain’s Faustino and Italy’s Antinori.

By 2017, COFCO Wines & Wine had become a leading importer of Bordeaux wines and the largest importer of Australian wines in China.

Despite its short history since 2014, COFCO Wines & Wine operates similarly to traditional wine businesses, focusing on premium branding and expanding its franchise network. As of 2024, it has over 500 retail outlets across China.

In recent years, the company has adopted a lower profile but continues to prioritize fine wines, actively participating in major industry events and opening innovative stores in cities like Jinan and Hangzhou. From July 25 to 26, 2024, it launched a “Wine & Wine Super Store” in Beijing that attracted more than 300 domestic distributors.

While COFCO Group reported profits of over RMB 20 billion (US$144.5 million) in 2023, specific financial details for COFCO Wine & Wine were not disclosed.

However, in previous years, the company reported substantial revenue growth, including an 80% increase in sales volume in 2021. The latest annual sales revenue data of COFCO Wine & Wine dated 2017 at RMB 749.6 million (US$103.7 million) at the peak of China’s imported wine market, with a net profit of RMB 17.96 million (US$2.5 million) and total assets valued at RMB 685 million (US$60.3 million).