{"id":17658,"date":"2014-09-15T19:09:37","date_gmt":"2014-09-15T19:09:37","guid":{"rendered":""},"modified":"2014-09-15T19:09:37","modified_gmt":"2014-09-15T19:09:37","slug":"Sotheby-s-opens-Asia-s-first-wine-retail-store-in-Hong-Kong","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=17658","title":{"rendered":"Sotheby’s opens Asia’s first wine retail store in Hong Kong"},"content":{"rendered":"

Auction house Sotheby’s said it has opened its first Asian retail wine store in Hong Kong in a bid to tap strong demand for high-quality and readily available vintages.<\/strong><\/p>\n

The new outlet in Hong Kong’s Central business district, which is the second Sotheby’s wine retail store after its first in New York opened in 2010, offers a wide range of wines to collectors, investors and wine drinkers, it said in a statement. The company also sells wine via a website.<\/p>\n

Sotheby’s, which sold HK$1.4 billion ($184 million) of wine over the past four years at auctions in Hong Kong, said the selection ranges from investment-grade wines priced at up to HK$280,000 ($36,124) per bottle like as a 12L Balthazar of Ch\u00e2teau Haut-Brion 2000, to everyday choices such as Ch\u00e2teau Barreyre 2010 at HK$148 ($19) per bottle.<\/p>\n

A global wine glut coupled with weak demand from major economies has driven wine makers to target China and other emerging markets to boost sales.<\/strong><\/p>\n

China consumed about 17 million hectoliters (449 million gallons) of wine last year,<\/strong> Paris-based International Vine and Wine organization OIV estimated, slightly lower than the previous year after a decade of rapid growth.<\/p>\n

Source reuters<\/em>
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