Let the good times flow again

Bruno Baudry of ASC Fine Wines. [Photo/China Daily]

E-commerce

This month ASC Fine Wines, a foreign importer that has been in the Chinese market for 20 years, closed its Shanghai Wine Residence, a 6,500-square-meter club that offered tasting, dining, and retailing for the company's private customers and corporate clients.

Bruno Baudry, chief executive of ASC Fine Wines, says that because of changes in the market the company will devote its resources to developing e-commerce and sales expansion in second- and third-tier cities.

"We are reviewing our portfolio to add some of the world's best-quality wines with price points that meet the growing demand of more entry-level wines from new wine consumers, particularly in the e-commerce channel."

Baudry adds: "But we must not forget that fine wines are in the DNA of the company."

COFCO Wine & Wine says it aims to have the most extensive distribution network in China.

"We do not follow other importers who may focus on one field, such as e-commerce, or group purchase or restaurants and hotels," Li Shiyi says. "We are doing multiple channels."

One novel approach COFCO has adopted is to work on distribution with local companies that make and distribute baijiu, the Chinese spirt, he says.

"That means we will reach out to third- and fourth-tier small cities across China with our wines at supermarkets, and cigarettes and liquor shops."