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| Saturday, 8 November 2014, 20:00 HKT/SGT | |
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Source: HKTDC | |
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| Event seen as an effective platform to tap into the Asian market |
HONG KONG, Nov 8, 2014 - (ACN Newswire) - The 7th Hong Kong International Wine & Spirits Fair, organised by the Hong Kong Trade Development Council (HKTDC), ended today, having drawn more than 1,000 exhibitors from 38 countries and regions.
 | | Hong Kong International Wine & Spirits Fair Records Strong Buyer Growth from Key Markets |
Held again at the Hong Kong Convention and Exhibition Centre, the fair ran 6-8 October, opening its doors to the public aged 18 or above on the final day.
The fair attracted around 20,000 trade buyers from 76 countries and regions. Overall attendance is comparable to the previous year, while buyer attendance from individual countries and regions has recorded significant growth, including Australia, Canada, France, Italy, Japan, Spain and the USA. On the public day, the event attracted over 30,000 wine lovers, an increase of more than 30 per cent over the previous year.
"Ever since the Hong Kong government removed wine duties in 2008, Hong Kong has become a regional hub for wine trading, and a gateway for wine trading to the Chinese mainland," said HKTDC Deputy Executive Director, Benjamin Chau. "Both the number of international wine businesses established in Hong Kong and wine enthusiasts have grown by the day."
Mr Chau noted that Hong Kong has reacted well to resulting new business opportunities, and that the fair is an excellent promotion and trading platform for wine and spirits companies to extend their business into the Chinese mainland and other Asian markets.
Japanese whiskies in demand
Hong Kong has seen strong recent growth in whisky imports. During the first nine months of 2014, whisky imports in Hong Kong totaled US$56 million, a nearly 40 per cent year-on-year increase. Exports rose 14 per cent year on year, reaching US$49 million. With such impressive growth, the fair introduced the "Whisky and Brandy Bar" and "Whisky and Spirits Zone" this year to cater to market demand.
This whisky appreciation trend prompted local Japanese whisky distributor Wine Spirit Hong Kong, to join the fair for the first time this year. Company Director Anthony Choi said consumers have started paying attention to Japanese whiskies after Yamazaki Whisky claimed the top title at a recent global whisky competition.
Resulting media coverage has helped whisky sales grow 20-30 per cent, said Mr Choi, adding that the nearly 15 per cent depreciation of the yen this year has lowered import costs. This has allowed him to invest more resources in promotion, leading to the satisfactory sales of Japanese products. Wine Spirit Hong Kong showcased three types of Japanese whiskies at the fair, including the Umeshu Whisky, Akashi and Twinalps, all which were well-received. Mr Choi says he took orders from restaurants and retailers on the first day of the fair.
Global wineries eye the Asian market
Meanwhile international wine producers continue to see Hong Kong as a springboard to the region. Sopexa Hong Kong General Manager Anita Ma said: "This is the seventh year of our participation in the fair. This time, we have brought together over 100 companies from 12 major wine-producing regions in France to offer a great variety of red wines, white wines, rose wines, sparkling wines and beer." The Hong Kong wine fair, she added, provides an important showcase for Sopexa to promote French wines to the Asian market, especially the mainland and Hong Kong, because it draws large numbers of Asian buyers.
"It is a good place for us to do business, to meet with existing business partners and to look for new customers. Our exhibitors are happy to see heavy traffic this year and they have received positive feedback from buyers," said Ms Ma.
The Chief Executive of the Australia In Vines Association, Eddie Chiu, said: "Hong Kong is an international wine trading hub, and the Wine & Spirits Fair has provided a good channel for exhibitors to expand into the Asian market, particularly the Chinese mainland. The Australian exhibitors have met a lot of buyers from the Chinese mainland at this year's fair."
Sponsored by Sunshine Creek, the Australian pavilion showcased red, white, and sparkling wines from 30 wineries from various parts of the country, of which 16 were from the Yarra Valley.
Mid-priced wines popular with Asian buyers
Korean consumers prefer mid-priced, high-quality wines, said Jong Kyu Park, representing LOTTE Chilsung Beverage Co, Ltd. The company was at the Wine & Spirits Fair for the first time. Mr Park was at the fair to source wines from Chile and Spain, as well as alcohol cocktails. Mike Back of Singapore's Equatorial Wines Pte Ltd was looking for boutique wineries at the fair, particularly those from Australia, South Africa, and South America.
Photo download: http://filesharing.tdc.org.hk/hktdc/download.php?fid=_phpZGiKG8
High Spirits at Hong Kong Wine Fair 2014: http://youtu.be/3usPzJpWJP8
Fair Website: http://www.hktdc.com/hkwinefair/en
Contact:
HKTDC
Corporate Communication Department
Parker Robinson
Tel: +852 2584 4341
Email: parker.robinson@hktdc.org
Topic: Trade Show or Conference
Source: HKTDC
Sectors: Trade Shows, Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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