The demand for luxury wines in China increases
The appreciation for luxury wines in China is on the rise with European vineyards and import businesses set to capitalise on this demand. Francesco Davico, Export Manager for wine producer Cantine Salvano is seeing a growing trend of brining more Western tastes to Asia. “Chinese appreciate good wine more and more. They are open to try new wines, before it was only French wine. Now they are open to try good wine from Italy, Piedmont, Tuscany, Sicily and also Germany, and new worlds wines from South Africa, Chile and California.” It’s not just wine producers who are taking an interest in this trend. Veronafiere, ICE and Vinitaly are launching the Italian Wine Channel to promote and deliver wine to Chinese consumers. ICE GM Piergiorgio Borgogelli stated that, “in China, we will quadruple our investments compared to the year before. We’re looking at projects that favour the ways preferred by the Chinese to buy things: over 70% of consumers shop online.” While Italian exports have increased substantially over the last decade, they only hold 5% of the worldwide market compared to 44% held by France. Italy trials Australia, Chile and Spain, however a project like the Italian Wine Channel could change this in the near future. In favour of the new project, Federvini president Sandro Boscaini stated, “we need to rethink our export policies: worldwide demand for wines is increasing”.