Date£º
2018-11-14 14:27 Source£º
EMWFineWines Author:
EMWFineWines Translator:
CEO of EMW Fine Wines Mr. Edouard Duval had been invited by Crossover at China National TV News Channel- CGTN for its special edition during China International Import Expo, talking about Chinese wine market and its new trend.
We import wines from 15 countries and from 15 years ago. When we first started, people who consumed wines at that time were more in their 40s/50s. Then year by year, we see giant growth in middle-class who basically become the major purchasing power to buy our wines. By today, I think the new generations are more willing to drink something different from the elders. And this provides big opportunity for us. We are really lucky to join in the market at that right time.
Edouard at CCTV Crossover Show
What, do you think, contributes to the changes in the demographics of the consumers?
¡° First, it is the economic growth of China which has been tremendous since the past 15 years. Second, like I mentioned, the new middle-class are eager to discover the world and the imported product.
And another major reason is that the policy of opening the market in China which helps to simplify the importing process. It is now easier to import and distribute foreign products here, and this definitely provides a lot of opportunities to the market.¡±
Professor Martin Lockett from Dean of Nottingham University Business School China (left), Mr. Edouard Duval (middle), host of the Crossover Column of CGTN(right) toast with Duval-Leroy Champagne
What is the picture of your portfolio now? 40% of your imported wine is from France, what about the rest?
¡°Definitely French wine is still the major player and if you look at the two countries that have really gained a lot of market share are Australia & Chile.
There are few different reasons. First of all, they have been doing very well on marketing job, making it easier for customers to understand the wines. The second important reason is that both of the countries have signed free trade agreement with China. So less cost on tax and that makes big difference.
Australia & Chile together, in the past 6 years, have gained 20% market share.
Crossover at EMW iconic dinner
How's the whole market now?
¡°There is easier access to imported wines nows, which is attributed to the digital commerce and diverse distribution channels.
Born in a wine family, I still want to stay close to the local products. I travelled all around China to select indegineous wines from top wine producing regions. We present and distribute imported world wines in Greater China, meanwhile, we also export Chinese wines to the rest of the world.¡±
Within 15 years, the whole wine market is becoming more competitive but also more reasonable. In 2018, we have sold 3 million bottles to 160 cities in mainland China. And we believe we will have better business in the future.