Hong Kong became one of the most important wine-trading hubs in the world since the removal of import duty in 2008 that entered in a 2.0 era of wine business that opened a whole new market opportunity, positioned the place to be for fine wine purchase .
Today, it’s the gateway for the mainland’s wine trade, a large quantity of wine is being re-exported to mainland China for the growing Chinese middle class, but top fine wine has been slowed down since China anti-corruption campaign in 2013.
Wine market era 3.0 emerged with the popularization of wine has also illustrated changing trends in purchase to a wider range of wines such as Burgundies or new worlds fine wine, from older to younger consumers, from male to female consumers, from red wine to white wine consumption, from France to other countries. And recent years, wine merchants in Hong Kong have adopted new strategies, including developing e-commerce & fierce competition in social media. Hong Kong is not only the world wine hub but the most complete wine library in the world.
Due to today’s context environment, wine industry in Hong Kong will need to reinvents itself and raise another level to sustain competition and demonstrate our business resilience, a path of 4.0 era with enhancement in operation technologies in supply chain, lower general operation & storage cost, spread further geographically outside Hong Kong such Greater bay China & other Asian pacific area.
Our action is to build solid distribution partnership with diversity of distribution channels, enhance our relationship with our global customers. Our management maintain general industry market intelligence, wine expertise and sourcing networks. We will explore and seek enhancement in technologies of the products tracking and digitalization to keep up to standard our products provenance, and more fluidity in our operation transaction.
We are confident to deliver the right trades, growth and increase our treasures wine assets for next decades.
