Upgrading competition for imported wines in 2011

Since the beginning of 2011, both domestic wine magnates and imported wine merchants have been accelerating their steps in grabbing market shares in succession. Following its acquisition of an Argentine Chateau at a price of 18 million dollars, COFCO bought Viaud Chateau in Bordeaux with 100 millions dollars on Feburary 21, 2011. Insiders of the industry claimed that it was due to the increasing wine consumption market and continuously rising import volume that propelled the domestic wine magnates to purchase the French winery.

Status quo of domestic market——almost 60% increase of imported wines

According to the statistics released by General Administration of Customs, during the first 11 months of 2010, 2.6 million hectolitres wines were imported, worthing 1.13 billion dollars, which was a jump of 58 percent and 53.9 percent year on year. Most wines were imported from the EU, Chile and Australia.

Domestic magnates

Flooding into imported wine market

The bright market statistics urges domestic wine magnates to march toward imported wines. COFCO’s acquisition this time is the first try of national corporation advancing into Bordeaux. Also, the action differs from previous ones in that it is the whole chain management from grape-planting to wine-making, which are the measures taken by COFCO to guard against the influences imported wines bringing in.

At the same time, instead of buying foreign chateaus, Changyu chose to cooperate with wineries abroad to explore domestic market jointly.

It was reported that advancing into the imported wine market is the inevitable trend against the background of the current imported wine consumption passion.

Imported wine merchants

Seeking cooperation with overseas counterparts to develop new wines

Against the current background, imported wine merchants had jointed hands with tremendous foreign counterparts in developing new wines in order to occupy a better position in the more and more intense competition in the imported wine market. It was said that consumers tended to buy imported wines with high ratio of performance to price.

Presently, Chateau Petrus is cooperating with Aussino World Wines and has presented JPM Family Selection with the logo of Aussino on it’s front label.