Legacy Discusses Strategy for 2013 China Wine Market
23 1월 2013 - 6:05AM
Legacy Wine & Spirits International Ltd. (Pink Sheets:LWSP), an
importer and wholesaler of fine wines in China since 2008,
announces that the Company intends to take advantage of the
changing trends and growth that the wine industry in China is
experiencing.
The Company will be focusing its 2013 sales and distribution of
mid to lower priced imported wines towards Tier 2 cities in
China.
Currently there are 20 million consumers of imported wine in
China, just 1.5% of the population. According to Wine Intelligence,
a global wine and market research authority, they estimate that the
number of wine consumers will increase to 80 million by 2020, with
the bulk of the new wine drinkers coming from Tier 2 cities.
Although the wine market is currently focused on Tier 1 cities like
Beijing, Shanghai and Guangzhou, there are up to 30 cities in China
with populations of 3 million to 8 million where wealth is
increasing. The Tier 2 cities will be the main engines of growth
for the wine business in China.
Legacy's choice varietal to market in the red wine sector in
2013 will be Malbec from Argentina, which will provide excellent
value for the consumer and has the potential to increase the
Company's market share given its relatively new presence in the
Chinese red wine market. The fact that the affluent Chinese who
normally drink higher priced imported wines are starting to
appreciate the joys of finding undervalued quality wines will bode
well for the Company's selection of wines.
According to China Daily, China's wine imports have jumped from
182 million units in 2008 to 391 million units in 2011 with no slow
down in sight for 2013. Wine consumption in China has more than
doubled in the last five years, according to Vinexpo, a wine
industry expert.
"Management is very optimistic that the growing trend of wine
consumption in China can only be beneficial to Legacy's long term
business goals," states Jaclyn Cruz, President.
About Legacy Wine and Spirits International
Ltd:
Legacy Wine and Spirits International Ltd. (Legacy) is a
publicly listed fully reporting company trading in the United
States (Pink Sheets:LWSP). The Company is an importer and
wholesaler of globally bottled imported wines to China.
Visit our site: www.legacywineandspirits.com
The Legacy Wine and Spirits International Ltd. logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=8328
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing and
evaluation of products and other risks detailed from time to time
in Legacy's filings with the Securities & Exchange
Commission.
CONTACT: Jaclyn Cruz, President
1-888-488-6882
Wee Cig (PK) (USOTC:WCIG)
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Wee Cig (PK) (USOTC:WCIG)
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