Legacy Wine and Spirits International reports that the company will be focusing in the next three months on a major national marketing campaign on the sparkling-wine (champagne) market in China.
The company plans to take advantage of the slump in this market sector, which has negatively affected the largest champagne consumers in the world, the US and UK markets. However secondary markets like Russia, India and China have made up the shortfalls in global sales. With the growing middle-class population in all three developing countries and their desire for the Western lux lifestyle, the wine market in general in these countries will continue to grow.
The upcoming holiday seasons – Christmas, New Year’s and Chinese New Year – are three excellent marketing opportunities for Legacy to promote champagne as well as other wine varietals in all the Legacy outlets fulfilling traditional and new product demands.
In order to meet the potential demands, Legacy has secured wine inventory from several reliable and credible wineries from countries like Italy, France, Spain, US and South Africa.
Christopher Scheive, Company President states: "According to international wine experts, China has undergone the most rapid urbanisation in history, and the country’s nouveau riche are taking to wine like never before. China is the world’s ninth largest wine market by volume and sixth largest wine producer. From a base of almost nothing a few years ago, the country boasts more than 400 commercially viable domestic wineries. Meanwhile, the value of wine imports to China is expected to reach USD870 million by 2017, up almost fivefold from USD184 million in 2007. The size of Asia’s wine market, including China, is expected to increase by up to 20 percent per year for the next five years, compared to less than 1 percent in the rest of the world."
(Source: Legacy Wine and Spirits International)