Legacy Wine & Spirits International, US and China based importer and wholesaler of fine wines in China since 2008, just announced that they intend to take advantage of the changing trends and growth that the wine industry in China is experiencing. 2013 sales and distribution will focus on 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. Wine Intelligence 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. The wine market is currently focused on Tier 1 cities like Beijing, Shanghai and Guangzhou, yet there are up to 30 cities in China with populations of 3 million to 8 million where wealth is increasing. Legacy’s will push Malbec from Argentina, which will provide excellent value for the consumer and has the potential to increase the Company’s market share. Affluent Chinese who normally drink higher priced imported wines are starting to appreciate the joys of finding undervalued quality wines.
