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VINIBRIDGE – Conquering Asia’s Booming Wine Market

5 June 2024

Article written by Nathalie Parent Dumoulin, NEXT Edition

While Vinexpo Asia-Pacific was in full swing in Hong Kong, WI&NE Nouvelle-Aquitaine sought insights from an expert on the Asian market. Ann Ly Truchasson, VINIBRIDGE, delivered her perspective.

Q. Ann, in early 2024, you embarked on a three-month journey to Asia. What were your destinations and the purpose of this trip?

I have met with current and potential customers in China, Singapore, Hong Kong, Taiwan, Vietnam, and Japan. I have observed that Asian markets are increasingly providing opportunities for wine producers. There are 38 million wine buyers in China alone, with a significant proportion showing a preference for French wine.

Q. The Asian wine market is projected to grow at an annual rate of 5.19% through 2027. What explains this trend?

The market’s rapid ripening is driven by the growing purchasing power of the middle class and a heightened focus on wine education. Although wine consumption is decreasing, there is a clear trend towards higher-quality choices. The significance of renowned “brands” is particularly pronounced in Asia. Imported wine consumption is expanding beyond major cities, with secondary and tertiary towns playing a substantial role in driving growth through increased home consumption, primarily via online sales, which are poised for sustained, robust maturation in the long term.

Q. Which products are all the rage among Asian consumers?

Spirits such as cognac and armagnac are always favored.

Q. Selling wine in Asia in 2024: What strategies for success?

The Asian market operates under unique regulations, including standards and labeling requirements, which businesses must adeptly navigate. It is imperative to have the capability to oversee the market in person and establish robust primary and secondary distribution channels, both physical and online. Furthermore, establishing a solid brand presence is critical in this market.

Q. French wineries struggle to find reliable Asian partners to market their wines. How can VINIBRIDGE assist?

VINIBRIDGE is committed to supporting French wineries in overcoming various challenges. Our specialized marketing and communication services are designed to cater specifically to the Chinese market. We adeptly manage Chinese social networks, develop Chinese websites, and provide comprehensive commercial, editorial, and legal translations. Additionally, we offer professional interpretation services for business meetings.

We specialize in facilitating connections between Asian investors, buyers, distributors, and French winegrowers and wine merchants, focusing on the Greater South-West region. Our expertise encompasses a wide range of wines and spirits, including cognac, armagnac, Grands Clus Classés, and other distinguished selections.

At VINIBRIDGE, we facilitate Business-to-Business (B2B) transactions to promote trade between France and Asia. Additionally, we offer assistance with administrative procedures related to trademark registration and customs. We actively engage in wine trade shows, events, and training courses to boost the promotion of French wineries throughout the Asian continent.

VINIBRIDGE offers winegrowers the opportunity to establish a strong presence in this up-and-coming market with absolute confidence. You can benefit from our extensive expertise and our wide-ranging network of partners, including winegrowers, legal professionals, notaries, certified accountants, merchants, acquisition specialists, and distributors.

Establish crucial connections with Asian wine markets by partnering with VINIBRIDGE today!

To find out more about VINIBRIDGE: https://www.vinibridge.com

Article written by Nathalie Parent Dumoulin, NEXT Edition, WI&NE Nouvelle-Aquitaine member https://www.wi-ne.net/nos_experts/nathalie-parent-dumoulin

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