China: Latest beverage news & analysis
China remains a source of much concern for high-end spirits producers, none more so than Remy Cointreau.
When Cognac producers were beginning to realise the full impact of falling demand in China last year, Pernod Ricard's MD of finance, Gilles Bogaert, was asked when he thought the situation would return to normal. Bogaert said that a recovery would take time, adding that “there are still questions over pace”.
Later this year, Shanghai will host the second ProWine China, a sister event to Düsseldorf's ProWein. Here, just-drinks' Andy Morton speaks to head organiser Marius Berlemann to find out how preparations are going for the November show.
I'm calling it, people. Today is the day that I feel confident enough to conclude that the China 'crisis' is not a blip.
Pernod Ricard calls it “a short-term pause in our long-term growth”. But despite the optimism, the French group must be getting increasingly nervous about its performance in China.
Diageo has opened a Johnnie Walker House in Chengdu as it expands its chain of so-called “whisky embassies” in mainland China to three.
Boreal Water Collection, the US private label bottled water firm, has agreed a US$24m deal with Soho Corp to supply the Chinese firm's domestic market.
Global sales of Cognac have fallen by 10.2% by value in the last year as China's crackdown on corruption continues to bite, according to reports.
Tingyi has boosted profits in its beverage unit as raw material costs fell, but the China-based group also warned of a slowdown in its domestic market.
Diageo has written down the value of baijiu maker Shuijingfang, of which it has a 39.7% stake, by GBP264m (US$446.2m) as sales of the white spirit have fallen sharply in the face of China's anti-extravagance measures.
Diageo has declined to comment on reports that it is to write down the value of its stake in baijiu brand Shuijingfang.
Treasury Wine Estates (TWE) has said it is “confident” of protecting its Penfolds trademark in China after it emerged it is embroiled in a long-running legal battle over the brand.
All Market Inc has sold a 25% stake of Vita Coco to a Chinese distributor for about US$166m, as the coconut water brand prepares to launch in the country.
The biggest Chinese owner of Bordeaux vineyards has been accused of misusing government money to fund the acquisitions, according to a report.
The Coca-Cola Co has started construction on a US$100m plant in China's north-east.
A joint US and Chinese study released this week found that a tea made with broccoli sprouts helps the body to break down and expunge high levels of the chemical benzene.
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