CHINA/FRANCE: Moët Hennessy lays out Chinese wine plan
Moët Hennessy LVMH to produce Chinese wine within three years
Moët Hennessy has said that it plans to produce premium sparkling wines in China within three years, after signing a joint-venture with local agriculture group Ningxia Nongken.
The wines and spirits arm of LVMH confirmed to just-drinks today (24 May) that the joint-venture will produce wines from 66 hectares of vineyards located in the Ningxia Hui region of north-west China.
Moët Hennessy will have a 60% controlling stake in the vineyards and Nongken the remaining 40%. However, the French group will be the sole owner of the associated winery, which is expected to turn out its first vintages in the next two to three years.
Targeted principally for the Chinese market, the wines will carry the Chandon brand name. The brand is currently applied to wines produced by Chandon Estates in California, Argentina, Brazil and Australia.
In 2007, Moët Hennessy secured majority control of a Chinese white spirits company, Wen Jun Distillery.
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