Luxury Brands Unite to Make China Top Priority

More China Wine Market News…

luxury-brands-unite-to-make-china-top-priority

Wine and spirits makers are not alone in making China their top priority market. Strong demand for handbags and high fashion in China and Hong Kong helped Burberry to deliver better than expected sales in the first three months of this year. The old family brand, famous for its raincoats, and with adverts fronted by supermodels including Chinese model Du Juan, said wholesale sales in Europe had slumped as its stores. Meanwhile, there were double-digit increases in China and Hong Kong. Angela Ahrendts, chief executive, said Burberry was aiming to make the most of “significant opportunities that exist for the brand in China”.The company plans to open 25 new stores and 10 new concessions in China, while closing outlets elsewhere to focus on its fastest growing market. Winemakers are following a similar business model by gaining ground in the thriving market as demand increases. The recent Wall Street Journal article, “China as a Vast Wine Market,”revealed that wine sales grew by 20% between 2011 and 2012 – to a staggering US$41 billion.

 

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