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How Low Can Bordeaux Go?

How Low Can Bordeaux Go?

JD.com Unveils Surprising Wine Sales Data/ Hennessy’s Plan to Move Bottling to China Sparks Strike at French Plant/ China Becomes OIV Member

Natalie Wang
November 25, 2024

The UGCB has just wrapped up its Hong Kong tasting at the opulent Regent Hotel before heading to mainland China. But beneath the glitz lies a sobering reality: exports from Bordeaux’s classified estates are shrinking. With global shipments down 16% year-on-year and exports to its biggest market, China including Hong Kong at a new low, one pressing question lingers—are economic challenges to blame, or is Bordeaux losing its luster in Asia?

Meanwhile, JD.com has pulled back the curtain on its wine sales for the first time, revealing a staggering RMB 1.85 billion (US$255.2 million) in revenue over nine months and over 40 million frequent online buyers. But it’s the shifts in consumption patterns—and the most searched wine on the platform—that might catch even industry insiders off guard.

Meanwhile, JD.com’s main competitior just unveiled the top 10 best performing wine shops during the Singles Day. While there’s a lot of talk as it should be about growth of online wine shopping in China, traditional channels such as supermarkets still remain as the No.1 outlet for wine sales. To the extent, Metro’s wine buyer revealed that 70% of its wine sales come from physical stores.

It’s also been a landmark week for Chinese wines. China has officially joined the OIV after a decade of effort, and Hong Kong’s flagship carrier Cathay Pacific is now serving six Chinese wines in first and business class following the success of previous Chinese wine selections.

While China and France are opening dialogues on brandy, cognac workers have staged a massive protest following Hennessy’s experimental plan to bottle VSOP in China to bypass punitive tariffs.

In another dramatic news story, Hong Kong customs have intercepted smuggled wines destined to the Philippines, with majority being Bordeaux.

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JD.com Unveils Surprising Wine Sales Data Amid Shifting Consumer Trends

How much wine did China’s e-commerce giant JD.com sell in first three quarters this year? What’s the most searched grape variety on the platform? JD.com’s top wine buyer reveals all the key data here.

Bordeaux Grand Cru Exports to Greater China Hit New Low

Bordeaux Grand Cru Classe exports to Greater China continued their decline, dropping to €240 million in the 12 months ending July 2024, a further slide from last year’s record low numbers, according to data shared by Union des Grands Crus de Bordeaux (UGCB) President.

Here Are The 10 Best Performing Wine Shops During China’s Singles Day

Here are the top 10 wine shops on Alibaba’s Tmall and Taobao during this year’s Singles Day promotion based on sales figures obtained by Vino Joy News.

Metro: Supermarkets Remain the Leading Offline Channel for Wine Sales in China

Chinese wine consumers are increasingly favoring physical off-trade channels for wine purchases despite the country’s omnipresent online sales, according to the wine buyer for Metro, a retail giant with a deep foothold in China’s wine sector.

Hennessy’s Plan to Move Bottling to China Sparks Strike at French Plant

Workers at Hennessy’s bottling plant in southwestern France went on strike Tuesday after the cognac maker announced it is considering relocating part of its VSOP bottling operations to China to circumvent punitive tariffs.

ProWine Shanghai 2024 Sees Strong Crowds, But Buyer Caution Lingers

ProWine Shanghai 2024, held from Nov. 12-14, has concluded with robust attendance, with booths bustling as buyers sampled wines and engaged in lively discussions. Despite the event’s popularity, cautious purchasing and a challenging economic environment tempered exhibitors’ optimism about the market’s recovery.

Cathay Pacific Introduces Six New Chinese Wines for First and Business Class

Hong Kong’s flagship carrier Cathay Pacific has unveiled six new Chinese wines for its first-class and business-class passengers from November 1, 2024, to February 28, 2025. This marks the second batch of Chinese wines as part of its “Discover Wine Series.”

Bollinger Launches Second Disgorgement of R.D. 2008 in Hong Kong

Champagne Bollinger debuted the second disgorgement of its 2008 R.D. Extra Brut in Hong Kong, offering wine enthusiasts in the city a chance to experience the evolving complexity of its flagship vintage from R.D., or “récemment dégorgé”.

Château de Pommard Expects a 40% Drop in 2024 Production

Château de Pommard, a nearly 300-year-old winery in the heart of Burgundy, is bracing for a 40% drop in its 2024 production, but remains committed to maintaining stable prices, according to the winery.

China, France Resume Talks on EU Brandy Anti-Dumping Case

China and France have resumed discussions on China’s anti-dumping measures targeting European brandy imports, French spirits lobbying groups said on Nov. 12, calling the development “a positive initial response.”

Breaking: China Formally Becomes 51st OIV Member

China’s application for membership in the International Organisation of Vine and Wine (OIV) was formally accepted on Nov. 14, 2024, marking a significant milestone in the country’s engagement with the global wine and viticulture community.

Priorat: Unlocking The Potential of Spain’s ‘Hidden Gem’ in China

With untapped potential in China, these distinctive Grenache, Carignan, and Syrah wines are poised to captivate adventurous palates. Could Priorat be China’s next hidden gem?

Hong Kong Seizes US$18 Million in Smuggled Fine Wines Bound for Philippines

Hong Kong Customs seized smuggled goods valued at 140 billion Hong Kong dollars (US$18 million), including high-end Bordeaux wines, after intercepting a shipment bound for the Philippines, officials announced last Wednesday.