Interviews with importers, distributors and wine bar operators suggest the shift is being driven by more casual drinking occasions: seafood dinners, late-night meals and gatherings among friends. Fresh, approachable wines are finding an audience beyond the formal banquets and business entertaining that have traditionally supported Chinese wine sales. Read More
Market analysis
Treasury Wine Estates, the Australian wine group behind Penfolds, has cut about 170 jobs worldwide and is selling several brands as it restructures its business following a sharp decline in U.S. earnings. Read More
The company behind Lady Penguin, one of China’s best-known influencer-led wine brands, faces court enforcement proceedings involving a whopping amount of RMB111.3 million (US$16.6 million). Read More
Constellation Brands’ wine and spirits net sales fell 26% in the first half of its fiscal year, although organic net sales rose 12% after excluding the impact of divested businesses. Read More
Hong Kong’s award-winning Cantonese restaurant has dropped international wines entirely, betting that discovery and food pairings of Chinese wines can win over diners who arrive expecting French or Italian labels. Read More
A construction giant is backing Xige’s push into Yunnan, Sichuan and Tibet. What makes Chinese vineyards worth betting on in a wine downturn? Read More
Duties will fall from 150% to as low as 25% over a decade, though lower-priced wines will see no relief. Besides, hefty state taxes and regulations are still major hurdles.
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China’s wine merchants are seeing a paradox this Mid-Autumn Festival: customers are buying better wines without necessarily spending more. Falling prices are bringing prestigious labels within reach, but squeezing the margins of the businesses selling them. Read More
Years of discounting and tepid En Primeur campaign have discouraged importers from buying Bordeaux. Now, with the Mid-Autumn gifting season under way, merchants are struggling to find the 2023 Carruades de Lafite. Read More
The importer’s new Beijing and Shanghai venues put tastings and service at the centre of its strategy following the St. Pierre family’s buyback.
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