Business Intelligence on Retailing, Franchising, and Consumerism in China

Changyu Enters Top Ten Global Wineries List

According to Beverage Market Report 2007 released by Canadean, a beverage research company in Britain, Changyu Group was ranked as the tenth largest winery in the world with sales revenue of US$695 million in 2007. It was the first time for an Asian winery to enter the top 10 global wineries.

As a leading company of the Chinese wine industry, Changyu benefits from strong consumer demand of China. The rise of China's wine industry changed the structure of global wine industry, making Asia one of the four wine powers along with America, Europe and Australia.

Apart from entering the top ten global wineries, Changyu also entered Forbes China Top 100 Chinese Companies List 2007. Ranked as the 79th, it was the only winery on the list.

However, Zhou Hongjiang, general manager of Changyu, says that the company has not entered the top-tier of the global wine industry. According to the statistics of Canadean, US$1.5 billion is the threshold for that first group. Therefore, Changyu's next strategic plan is to achieve the sales revenue of US$1.7 billion by 2013.

To achieve this goal, Changyu will focus on its high-end products from its four chateaus and its strong brand of "Jiebaina". In addition, Changyu will pay attention to the overseas market. At present, Changyu "Jiebaina" has been exported to 14 European countries.

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