Wine producers pin hopes on China in tough times
Sunday, 8 March 2009
SHANGHAI, April 7 (AFP): Wine producers are pinning their hopes for growth during the financial crisis on a country that only recently entered the ranks of the world's top ten wine drinking countries-China.
Wine bars and specialty wine stores have flourished in Shanghai, which prides itself of being the nation's most cosmopolitan city, and have quickly become part of the landscape.
"More and more people are coming through the door, especially after a dinner with friends," said Marc-Antoine Malia, head of sales and marketing for Enoteca, a small chain of wine bars in Shanghai and Beijing.
No longer a luxury just for foreigners, wine has become a status symbol among China's fast-growing middle class.
"China was one of the ten biggest wine consumers in 2008 and should be ranked number seven by 2012," said Xavier de Eizaguirre, president of Vinexpo, the world's biggest wine and spirits exhibition, which takes place in Bordeaux in southwest France.
Producers are paying more attention to the Chinese market as the economic crisis squeezes demand in developed markets, de Eizaguirre said.
"Very few emerging markets have the kind of potential we see in China," he said during a visit to Shanghai.
Domaines Barons de Rothschild, one of the great names in wine-making, recently announced plans to develop a vineyard in China to take advantage of the growing interest.
The owners of the famed Chateau Lafite label will plant the vineyard on 25 hectares (62 acres) on a peninsula in eastern Shandong province.
"It is particularly exciting to participate in the creation of an exceptional Chinese 'grand cru'," Eric de Rothschild said in a statement.
Alain Castel, director general of the Castel Groupe, France's largest producer by volume and number three in the world, said winemakers cannot afford to ignore the Chinese market.
This year his group hopes to sell more than 12 million bottles in China, he said.
Wine bars and specialty wine stores have flourished in Shanghai, which prides itself of being the nation's most cosmopolitan city, and have quickly become part of the landscape.
"More and more people are coming through the door, especially after a dinner with friends," said Marc-Antoine Malia, head of sales and marketing for Enoteca, a small chain of wine bars in Shanghai and Beijing.
No longer a luxury just for foreigners, wine has become a status symbol among China's fast-growing middle class.
"China was one of the ten biggest wine consumers in 2008 and should be ranked number seven by 2012," said Xavier de Eizaguirre, president of Vinexpo, the world's biggest wine and spirits exhibition, which takes place in Bordeaux in southwest France.
Producers are paying more attention to the Chinese market as the economic crisis squeezes demand in developed markets, de Eizaguirre said.
"Very few emerging markets have the kind of potential we see in China," he said during a visit to Shanghai.
Domaines Barons de Rothschild, one of the great names in wine-making, recently announced plans to develop a vineyard in China to take advantage of the growing interest.
The owners of the famed Chateau Lafite label will plant the vineyard on 25 hectares (62 acres) on a peninsula in eastern Shandong province.
"It is particularly exciting to participate in the creation of an exceptional Chinese 'grand cru'," Eric de Rothschild said in a statement.
Alain Castel, director general of the Castel Groupe, France's largest producer by volume and number three in the world, said winemakers cannot afford to ignore the Chinese market.
This year his group hopes to sell more than 12 million bottles in China, he said.