A giant Chinese wine company wants to conquer Spanish wine market
Chinese wines are now in Spain, trying to conquer new consumers. The biggest Chinese wine brand, Yantai Changyu Pioneer Wine Co Ltd, has exported its wines “Noble Dragon’’ brand in Spain, and started to sell it.
This wine is sold for 10euros and can be found in supermarkets and restaurants. Noble Dragon is a mix of Cabernet Gernitscht and Cabernet Sauvignon grapes and already sold in 3000 large store across Europe.
Last year, Chengyu has bought a majority stake in Marques del Atrio, Spanish wine companies. Working with Jesus Rivero, chief executive at Marques del Atrio, this one said about this acquisition:
“It is a great opportunity for us to introduce this wine in Spain, where there are currently 300,000 Chinese residents and many restaurants specialized in Asian cuisine”
The Chinese company is more than 100 years old, and already have its products present on European system with France’s Carrefour SA and another British supermarket chain, Tesco.
Vineyard in China, copycat of French domain
Changyu expects to increase its sales to 30 percent, in the domestic market and at abroad, by 2020, while 90 percent of its sales are in China.
The ESADE China Europe Club is an association of Chinese companies which invest in Europe. Manuel Sanchez Monasterio, as a member of ESADE, expect this strategy can happen, as a good business and economic opportunities for Spanish distributors.
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