PHOENIX, AZ -- Regal Life Concepts, Inc. is pleased to announce that Guangzhou AWA Wine Co. Ltd ("AWA Wine"), a portfolio investment company of Regal Life, recently celebrated the grand opening of a new flagship store in Yuexiu District, Guangzhou, China.
Yuexiu District, located in the central downtown district of Guangzhou, is one of the oldest urban areas with profound business, commerce and tourism resources. It is host to many large commercial enterprises as well as a number of popular bars, discos, night clubs and other entertainment facilities. Over 100 of the Fortune 500 companies have set up subsidiaries in the district and the Yuexiu District enjoys a distinct advantage in Guangzhou City Government's efforts to develop its "corporate headquarters economy." It has a number of tourist attractions with beautiful sceneries and historic relics. Being amongst the most prosperous of commercial centers in Guangzhou, the opening of an AWA Wine Private Cellar store in this high-profile location provides the store 24/7 exposure to a lot of natural pedestrian traffic and high-level consumer brand exposure.
"Improving living standards and economics in Guangzhou enhances the development of the fast growing retail wine consumption market in the city," commented Nie Weifeng, President and CEO of AWA Wine. "AWA provides dedicated care and quality support services to our privileged members, who are increasingly seeking a more Western lifestyle of comfort and consumption. This new flagship store encompasses a comfortable lounge with distinguished ambiance for our members to enjoy fine wines from all over the world. With an excess of 1,000 Private Cellar members in Guangzhou alone, this new establishment should help expand our AWA Private Cellar Club profile."
The AWA Private Cellar Club is a distinguished tier of the AWA Wine Club membership network and comprises an elite group of wine collectors and connoisseurs seeking higher-level information on wine resources and wines for collection. The typical Private cellar members make additional investments through AWA in wine storage systems and a higher-profile wine collection. Exclusive invitations to in-store events, which can consist of anything from an informal wine tasting seminar to fun and entertaining wine and hors d'oeuvres receptions, are extended to this higher membership tier on a regular monthly basis.
"China's burgeoning middle class, now the size of the entire United States, is just getting started. The McKinsey Quarterly estimates that it will take two decades before these nouveau riche reach their full spending potential. As we know from our own experience and prosperity -- 70% of GDP in the United States is attributed to consumer spending -- the consumer is an engine of economic growth. In other words, the global recessionary headwinds are no match for the Chinese consumer," commented Eric Wildstein, CEO of Regal Life. "Regal Life strongly believes that the AWA Private Cellar Club Program is unique to the growing Chinese imported wine sector and through our addition of wine industry veterans to the advisory board, we have started sourcing premium wines and accessory products for AWA."
The AWA Wine network is comprised of 16 corporate-owned and franchised locations throughout China that is servicing a strong and growing membership base of over 50,000. The newly established Regal Life-AWA Wine joint venture will lead to the opening of additional corporate-owned AWA Wine locations in China and the development of an improved IT infrastructure to enhance backend administration, sales and logistics support. AWA anticipates that, with the proper funding, it will expand its network to 100 AWA Wine Club locations and 1 million active AWA Wine Club members by 2013.
China Wine Marketplace
According to a Feb 2, 2009 Financial Post article, British firm IWSR conducted a study which projected that Russia and China will account for 58% of the growth in wine consumption in 2009. With current annual Chinese consumption of wine at only about a half-liter per capita compared to the current world average of 3.5 liters per capita per year, there is huge potential market growth for the imported wine industry in China. Wine consumption in China has exhibited annual growth rates in excess of 8% over the past several years and is projected to exceed 1 billion bottles in 2011. Industry experts say China may become the World's eighth largest wine consumer by 2012.
Further information:
Please feel free to call Investor Communications toll-free on 1-888-367-3077 Please visit: www.regallifeconcepts.com
About Regal Life Concepts, Inc.
Regal Life Concepts, Inc. is a publicly traded company with headquarters in Phoenix, Arizona. Regal Life Concepts, Inc. is strategically positioning itself in the health, wellness and lifestyle arena and is investigating further opportunities in Asia. Regal Life Concepts, Inc. trades on the NASDAQ OTC BB under the ticker symbol: RGLC. The Company is focused on the health, wellness and lifestyle sector with a multi-faceted approach to market penetration. The company has identified two major growth industries -- Wine Distribution Market in China and Health and Wellness Tourism.
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