Liquor brand unsure if it wants a taste of luxury
By Wang Qingchu |
December 1, 2011, Thursday
|
Print Edition
Print Edition
CHINESE premium liquor producer Kweichow Moutai Co may be having second thoughts over a bid for inclusion in a global luxury brand list.
This follows criticism that Moutai prices have increased ten-fold in recent years, putting the baijiu, sorghum spirit, out of reach of ordinary consumers.
A month ago, Moutai, based in southwest China's Guizhou Province, contacted the World Luxury Association representative in Beijing, applying for listing in its annual Top 100 most valuable global luxury brands.
This would put the baijiu brand on a par with Lafite wine and Hennessy cognac.
But China's largest distiller by market value later withdrew its application.
"Moutai contacted us, wishing to make its debut on the luxury brands list, tap into overseas market and expand its brand awareness," Ouyang Kun, WLA's chief representative told Shanghai Daily.
"But communications stopped recently," Ouyang added.
Former Moutai chairman Ji Keliang had said earlier that Moutai should not become a luxury brand.
Instead, he advocated that it should be an affordable spirit, accessible to the general public.
But the prices of Moutai products have soared in recent years and become much sought after items at auction.
A limited bottle of Moutai produced in 1992 and decorated with gold was sold for a record 8.9 million yuan (US$1.4 million) at auction last April.
The price of 53 percent proof Flying Moutai - the brand's best-selling line - has shot up to 2,100 yuan from 200 yuan in 2000.
And it is set to exceed 5,000 yuan a bottle in three years, Yuan Jin, a manager of a Moutai subsidiary, told Beijing Times.
"Moutai prices are already those of a luxury brand. Making it affordable to the public has become a dream," a web user named "Xiongji Jason_cross" wrote on Weibo.com, China's Twitter-like microblog.
This follows criticism that Moutai prices have increased ten-fold in recent years, putting the baijiu, sorghum spirit, out of reach of ordinary consumers.
A month ago, Moutai, based in southwest China's Guizhou Province, contacted the World Luxury Association representative in Beijing, applying for listing in its annual Top 100 most valuable global luxury brands.
This would put the baijiu brand on a par with Lafite wine and Hennessy cognac.
But China's largest distiller by market value later withdrew its application.
"Moutai contacted us, wishing to make its debut on the luxury brands list, tap into overseas market and expand its brand awareness," Ouyang Kun, WLA's chief representative told Shanghai Daily.
"But communications stopped recently," Ouyang added.
Former Moutai chairman Ji Keliang had said earlier that Moutai should not become a luxury brand.
Instead, he advocated that it should be an affordable spirit, accessible to the general public.
But the prices of Moutai products have soared in recent years and become much sought after items at auction.
A limited bottle of Moutai produced in 1992 and decorated with gold was sold for a record 8.9 million yuan (US$1.4 million) at auction last April.
The price of 53 percent proof Flying Moutai - the brand's best-selling line - has shot up to 2,100 yuan from 200 yuan in 2000.
And it is set to exceed 5,000 yuan a bottle in three years, Yuan Jin, a manager of a Moutai subsidiary, told Beijing Times.
"Moutai prices are already those of a luxury brand. Making it affordable to the public has become a dream," a web user named "Xiongji Jason_cross" wrote on Weibo.com, China's Twitter-like microblog.
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