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: 国产99在线a视频 | 黄色片免 | 免费在线看黄视频 | www在线观看视频 | xvideos最新亚洲入口 | 五月天激激婷婷大综合丁香 | 美国毛片一级视频在线aa | 欧美一区二区亚洲 | 免费观看国产 | 91在线免费视频 | 狠狠综合欧美综合欧美色 | 国产a∨一区二区三区香蕉小说 | 国产91精品一区二区视色 | 看真人视频一级毛片 | 在线看黄网址 | 特黄女一级毛片 | 91资源视频| 一区二区三区视频网站 | 欧美日韩国产在线观看一区二区三区 | 欧美黄视频 | 男女性高爱潮免费网站 | 国模双双大尺度炮交g0go | 视频一区在线免费观看 | 亚洲欧美日韩精品在线 | 国产无套在线播放 | 午夜国产精品无套 | v视界影院视频一区二区三区 | 欧美黄成人免费网站大全 | 亚洲国产福利精品一区二区 | 免费国产最新进精品视频 | 欧美黄色大片网站 | 九九99热久久精品在线6手机 | 国产三级精品三级国产 | 国产成人福利美女观看视频 | 人人舔人人插 | 亚洲一级毛片免费在线观看 | 国产精品亚洲片在线不卡 | 国产精品网站在线进入 | 亚洲经典在线观看 | 天堂激情网 | 亚洲h视频在线观看 |