Vats Liquor Chain Store announced on November 6 to obtain the right to act as Chateau Haut-Brion’s agent in China.
Chateau Haut-Brion is the smallest of the top five chateaux in Bordeaux, but with the longest history–over 400 years.
Vats Liquor, owned by Wu Xiangdonghas now obtained the agent rights of all the top 5 chateaux in Bordeaux (Lafite, Chateau Latour, Chateau Margaux, and Chateau Mouton Rothschild).
Vats Liquor has long distributed domestic liquor brands and started its overseas agency business in 2010. According to Vats Liquor’s plans, the company will set up cooperation with 90% of world’s famous wine and liquor producers.
The Chinese wine market, with its high growth rate, is the driving force for many foreign wine producers. According to data from Shanghai Customs, imported wine through the department totaled 13.33 million liters in August, increasing by 34.4% over what was imported in the same period last year. Moreover, the wine imported from Bordeaux increased by 55% from July 2011 to July 2012, reported 21st Century Business Herald.
However, reducing the negative effects brought by bogus products on the value of foreign wine brands in the Chinese market is one of the most urgent tasks for foreign wine producers. Consequently, a proper Chinese cooperating partner is quite important for them as well.
Source: Morning Whistle Nov 2012