China: Latest beverage news & analysis
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.
Pernod Ricard is to target female consumers in China after increasing pressure from a government crackdown pushed down expected profits in the country.
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.
Tingyi has posted a big jump in Q1 beverage profits as raw material costs fell and sales of RTD teas and bottled water increased.
SkyPeople Fruit Juice has flagged a limited availability of raw materials after seeing a sharp drop in first-quarter profits.
Wine consumption in China fell last year as the rapid rise in the market since the turn of the century is faltering, latest figures show.
ProWine China is to host a “matchmaking” event that will connect Chinese and western vineyards looking to expand in the Asian country.
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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