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Recent research shows the value of fine wine investment has outperformed luxury Hermès handbags and Rolex watches during the pandemic. Auction house Sotheby’s record-breaking year in wine and spirits sale in Asia affirms the trend.
Provence bucked a prevailing downward trend last year and saw its rosé wine exports soaring despite the pandemic, driven by bullish demand in Europe. But now, with traditional exports markets in Europe and the US firmly captivated by the pink wine, Provence is eyeing its next growth engine – Asia.
Fine wine merchant, Sarment, is shutting down its business in mainland China, Hong Kong, Singapore and Japan, less than two years after it was sold to Paolo Bulgari.
The spirits giant Diageo estimated that the fast-spreading COVID-19 disease could shave off up to £325 million of net sales for the group, as the virus outbreak forced many restaurants and bars to shut doors across Greater China region.
A study by researchers at Arizona State University in the US found that children brought up by tiger moms are more likely to have problems with alcohol abuse later in life.
Strong demand for premium wines and mass-produced wines has driven up sales and profits for Australian wine giant Treasury Wine Estates.
The winners of the inaugural Belt and Road Sommelier Challenge (Asia) have been announced with Hong Kong sommelier Reeze Choi taking home the championship.