With sales of wine in China reaching USD$41 billion in 2012, up 22% from a year earlier, according to research firm Euromonitor International, USA winemakers are determined to get a slice of the action. Sacramento-based Family Winemakers of California and Stonebridge Research Group have been awarded a U.S. Department of Agriculture grant to develop plans to market and sell California fine wines in China. The $369,292 Emerging Market Program grant will help fund a three-year undertaking. ‘On behalf of California producers that haven’t yet found a foothold in the growing Chinese market, we’re delighted USDA saw merit in our proposal to focus on sales approaches for fine wines in our key target market – China,’ said Paul Kronenberg. Their goal is to develop in the crucial “mid-tier” market for the massive growing middle class of consumers – with wines that retail from USD $40 to $200 per bottle in China. The present reining wine and spirit producing giants selling in China, include France, Spain, Australia, New Zealand, South Africa and Argentina – who are now reaping significant sales benefits of their early fast action to conquer the Chinese market.
More China Wine Market News… The owners of Chateau Haut-Bailly, in Pessac-Leognan, first traveled to China in 2000. ’At the time, they didn’t know what a cork or a corkscrew was,’ said Veronique Sanders, the chateau’s […]