Moët Hennessy has named a seasoned Asia hand in Hong Kong to revive its North Asia business amid slumping Cognac sales and 1,200 job cuts.
Read More
Asia
While the Liv-ex Fine Wine 100 Index posted its steepest monthly drop since August 2023 in April, Asian buyers have begun to fill the gap left by the retreating U.S. market—led by a resurgent demand for Burgundy. Read More
One year after Thailand scrapped its steep import duties on wine, consumption—particularly of premium labels—has soared. But a new study warns the policy may be costing the country far more than it gains. Read More
King Power, Thailand’s duty-free monopoly at five major airports, is seeking to terminate its long-term concession contracts early, saying a collapse in Chinese tourism and the government’s scrapping of wine import duties have severely undercut sales and made its business unsustainable. Read More
A Singaporean man has been sentenced to more than seven years in prison for masterminding a fraudulent wine investment scheme that defrauded investors of over SGD 12.6 million, authorities said. Read More
Vietnam had previously signed free trade agreements with the European Union, Australia, and New Zealand in 2018 and 2019, leading to the gradual elimination of tariffs on wine. However, the 60% excise tax could negate the benefits of these agreements. Read More
American wine auction house Zachys has reportedly closed its Hong Kong office after 17 years of operation, marking a shocking retreat from Asia's key fine wine hub. Read More
Even though a US$10 ex-cellar wine can retail for as much as US$100 in India, this Master of Wine believes there’s never been a better time to enter the market. Read More
The shortfall, compounded by the conspicuous absence of key buyers from mainland China and Hong Kong, casts a spotlight on shifting regional priorities and rising cost concerns surrounding the fair. Read More
Following LVMH’s announcement of job cuts within its wines and spirits division, beer giant Budweiser has also confirmed workforce reductions across the Asia-Pacific region. Read More