China’s millennials and Gen Z who wield “considerable purchasing power” are reshaping China’s multi-billion wine market, as they become the main drinking force behind expanding country’s overall wine market size and per capita consumption in the next five years. Read More
Wine
For anyone hoping that China would open up after 20th Party Congress, you will have to wait longer. Meanwhile a set of data is causing concerns in the trade as it estimates the country faces a RMB 300 billion alcohol glut. Read More
As travel resumes, Korean Air has revamped and unveiled its newly introduced wine selections for its first class, business and economy classes, which will be served on board starting from March 2023. Read More
Pierre Castel, one of the richest billionaires in the wine industry and founder of world’s third largest wine producer Castel, is being hit with US$416 million tax bill ordered by a Swiss court, according to a Bloomberg report. Read More
Walmart, the supermarket chain operator, has taken up two boutique Bourgogne estates from lesser-known Bourgogne appellations, for its membership store Sam’s Club across China, as it beefs up its Bourgogne portfolio to attract the country’s expanding urbanites. Read More
Rumors of a possible alcohol ban within Chinese Communist Party and government organizations have sent liquor giant Kweichow Moutai's stocks briefly tumbling, wiping out millions of stock value, just when the liquor company has overtaken Tencent as the country's most valuable firm. Read More
Malbec, the single grape varietal that is so potently lionized in Argentina, is the star this month across the Pacific Ocean in China’s capital Beijing. Read More
ProWine Singapore staged from September 5-8 in the lion city became the only major sourcing platform for southeast Asian countries since the pandemic and will be an annual event instead of biennial trade fair. Read More
China’s holidaymakers cut back on travels and tourism related spending during the Golden Week of October but spending on dining and alcoholic beverages are on the rise as Covid rules discourage mobility. Read More
Average adult Koreans drank 53 bottles of soju, 83 bottles of beer last year despite declining alcohol consumption. Read More