三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

US EUROPE AFRICA ASIA 中文
Business / Industries

Fine wines languish in warehouses

(Agencies) Updated: 2015-11-04 09:36

Fine wines languish in warehouses

A sales assistant stands in front of shelves displaying imported wines at a supermarket in Shanghai. China's wine consumption dropped last year and the striking slowdown is a headache for the global wine industry. [Photo/Agencies]

The crates of Chateau Brehat wine from Bordeaux had gathered dust for three years in a bonded warehouse on the outskirts of Shanghai before the owners cut their losses in July, slashing three-quarters off the $50 price tag.

The fire sale was prompted by a huge oversupply of wine that had built up after a swarm of importers jumped at seemingly stellar growth from 2010.

China's wine consumption-which had been rising in double digits-dropped last year and is set to inch up just about 1 percent annually until 2020.

The striking slowdown is a headache for a global wine industry pinning hopes on fast China growth, and a further sign that Chinese consumers are reining in spending even as Beijing hopes they will pick up the slack from falling exports.

"When we started, there was huge demand so we could control prices and big margins were no problem," said Xavier Grangier, sales director at logistics firm Europasia, which runs the 4,000-square-meter Shanghai warehouse storing 250,000 bottles of mostly European wine.

Now, his firm has had to lower some prices and been stuck with some wine it is unlikely to sell.

"In Shanghai alone, 2,000 firms in the wine business just vanished over the last couple of years," he said.

China's retail wine market is worth around 78 billion yuan ($12.3 billion), with imports making up around one-third, according to a 2015 report from wine data analytics firm IWSR.

While official retail sales figures have been a rare bright spot amid a stream of economic data showing China's economy faltering, private sector surveys have shown consumer sentiment plumbing record lows in recent months.

A crackdown on corruption now in its third year has also discouraged conspicuous consumption, hitting not just wine but also sellers of other luxury goods from LVMH Moet Hennessy Louis Vuitton SE and Burberry Group Plc to global automakers.

"In 2010 everyone was screaming from the rooftops that China was the El Dorado for wine and you could become a millionaire by jumping into the business," said Pierrick Fayoux, Shanghai-based marketing manager at French wine importer VGF China Ltd.

"Now wine is being sold below cost, some is going bad sitting for long periods in poorly maintained warehouses and decent Bordeaux wines are going for 15 yuan a bottle."

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 婷婷久久综合九色综合九七 | 欧美成人亚洲国产精品 | 久久91精品国产91久久 | 国产免费私拍一区二区三区 | 高清一级毛片 | 成人免费黄色片 | 92国产福利视频一区二区 | 一品道一本香蕉视频 | 美女白丝超短裙被输出动态图 | 亚洲国产精品久久久久秋霞小 | 美国老黑一级毛片免费的大黄 | 九九99在线视频 | 色婷婷91| 精品国产一区在线观看 | 亚洲一级特黄特黄的大片 | 黄色在线观看视频免费 | 国产精彩视频在线观看免费蜜芽 | 亚洲免费网址 | 伊人色婷婷| 最新在线鲁丝片eeuss第1页 | 99久热re在线精品99 6热视频 | 黄色va| 热99re久久精品天堂vr | 最新国产成人综合在线观看 | 日韩一区二区三区四区区区 | 亚洲国产一区二区三区综合片 | 欧美在线一级精品 | 免费看欧美xxx片 | 国产呦系列 欧美呦 日韩呦 | 在线精品视频免费观看 | 成人免费视频一区二区 | 成人伊人亚洲人综合网站222 | 国产成人综合亚洲欧美在 | 又黄又免费的视频 | 2020国产成人免费视频 | 91精品全国免费观看含羞草 | 五月天综合婷婷 | 91国高清视频 | 国产一区二区三区四区在线 | 国产精品99久久99久久久看片 | 8090成人午夜精品 |