A scandal involving pirated liquor is cooling enthusiasm on the markets for Chinese e-commerce giant Vipshop. Vipshop has apologized for its lack of transparency in handling the incident as some said that the website had sold fake Moutai liquor and the case has been dragging on for over two weeks. Vipshop’s share has been moved down 20 percent since the scandal broke right around Christmas…Full Article: ECNS.cn Jan 2016
- Vipshop stated it would suspend its liquor sales, including Moutai (~CNY 1,000 or US$150 per bottle).
- In 2012, a 500ml bottle of Kweichow Moutai 53-degree liquor (the company’s primary product) cost CNY 2,000 (~US$316). In 2015, the price for Moutai 53-degree liquor dropped to CNY 1,000 (~US$161) per 500ml bottle.
- Established in 1999 in Guizhou province (southwestern China), Kweichow Moutai is a state-owned enterprise in China, specializing in the production and sales of Maotai liquor, together with the production and sale of beverage, food and packaging material, and development of anti-counterfeiting technology.