Vino Joy News
Posts
The Big Wine Downgrade in China: Good or Bad?

The Big Wine Downgrade in China: Good or Bad?

How Unconventional Wine Packaging Is Winning Over Young Palates in China/ Industry leaders Applaud Hong Kong's game-changing Spirits Tax Cut

Natalie Wang
October 24, 2024

This week, we're diving into China’s less glamorous, often overlooked low-brow segment of the wine market — boxed wine and budget bottles. As consumers tighten their belts during economic downturns, this segment is gaining momentum. Budget chains like Aldi and Seizeriya are riding this wave, with industry experts predicting that this shift could actually expand wine’s reach, making it more accessible than ever.

While Bordeaux struggles in China, unconventionally packaged wines - boxed wine and wine in metal kegs are emerging as unexpected growth opportunities. Could these affordable options ignite the next big trend in China’s wine culture?

In Hong Kong, the game-changing spirits tax is set to reshape the market, and industry leaders from Berry Bros & Rudd, Wine’s Link, Northeast Wines & Spirits, and MyiCellar weigh in on how this policy could transform the city’s future in the wine and spirits industry.

On a darker note, Everbright, a key investor in Googut Spirits, is in hot water, while South Korea’s leading wine importers grapple with high inventories and disappointing H1 2024 sales. Plus, don’t miss the latest on the DRC fraud scandal and the newly appointed president of the OIV.

Stay updated on all the key stories shaping Asia’s wine industry. Don’t forget to subscribe for access to exclusive content and help spread the word to others who might be interested!

Industry Experts Applaud Spirits Tax Cut, Bullish on Hong Kong’s Role in Baijiu and Luxury Spirits

Industry leaders from Berry Bros. & Rudd, Wine's Link, Northeast Wines & Spirits Ltd, and MyiCellar 雲窖 are applauding Hong Kong's new spirits tax cut and revealing how it will reshape the city’s high-end spirits trade. Find out what this game-changing move means for the future of Baijiu and luxury liquor in Hong Kong.

Sales Dip For South Korea’s Leading Wine Importers

Korea’s wine market continues to contract in the first half of the year, as the country’s leading importers including Nara Cellar and Lotte are reporting profit loss – more than 240% in one case.

China Everbright Chairman Accused of Corruption; Company Invested in Top Wine E-Commerce

China Everbright Group, China’s state-owned financial giant,has been embroiled in continuous turmoil, with two top executives falling from grace this year.

The Big Wine Downgrade in China: From Premium Labels to Bargain Bottles

The shift toward budget-friendly wine has fueled the success of low-cost options like Aldi’s offerings and Saizeriya’s house wines. As Chinese consumers trade down, some industry experts believe this trend could actually broaden wine’s appeal in the market, making it more accessible than ever. Could affordable bottles spark the next wave of wine culture in China? Find out how the market is evolving.

Treasury Wine Estates Reports Double-Digit Sales Growth in Q1 FY 2025

However, the Melbourne-based wine producer’s performance will depend on the economic environment and geopolitical dynamics in key markets, including China.

Serial Counterfeiter of DRC Arrested in Italy

Aleksandr lugov, a notorious wine fraudster who had been previously convicted of faking fine wines including the rarefied Domaine de la Romanée-Conti (DRC) in 2017, was again arrested in Italy seven years later.

How Unconventional Wine Packaging Is Winning Over Young Palates in China

While wine sales for business and gifting have notably declined, unconventionally packaged wines including boxed wine and wine in kegs are finding new avenues for growth. Here's our full report.

OIV Elects First President From Africa

Yvette van der Merwe, the Chief Executive Officer of South African Wine Industry Information and Systems (SAWIS), was elected president of the International Organisation of Vine and Wine (OIV) last Friday, making history as the first president from an African country in the intergovernmental body’s century-long existence.