LWSP is positioned to be one of the solutions LWSP is positioned to be one of the solutions....
Legacy Wine is one of the pioneers of the foreign-based suppliers of wine products into the Chinese market. But they are not the first to witness success.
As an example of the opportunity, other companies have witnesses success and are moving towards the Chinese market:
Legacy Wine and Spirits reported that the Company attended a Shanghai-Fujian Seafood Association (SFSA) event where Legacy's wines were the only wines featured at the seafood/wine pairing dinner.. The SFSA provides up to 40% of the seafood consumed in Shanghai. The event provided an excellent opportunity to broaden the base of acceptance for Legacy's wine selections and resulted in immediate orders for 400 cases of Legacy wines
Recently, California wine giant Gallo Wineries made a strategic corporate decision to move into the emerging Chinese wine market. "We're starting to make an effort into China. We think there's terrific potential over there," said Joseph E. Gallo of Gallo Wineries.
American auction house Acker Merrall & Condit held its first auction in Hong Kong in May and sold more than eight million worth of wine in one day, setting a new record for Asia.