There are many consumer items that western cultures take for granted. The power of a solid, American-made Pontiac or the decadence of a French truffle are but two consumer items that fit this bill. Many closed societies, however, have not been exposed to these items until fairly recently. Once they are exposed, they quickly find they enjoy these luxuries and can’t live without them. As these cultures begin to reach past their once closed boarders, they will likely find many other tastes and needs that they were unaware of. Tapping and capitalizing on these hidden opportunities is just one way to profit from the “excesses” that western culture has given the world.
Legacy Wine and Spirits International Ltd., a development-stage company seeking to enter the Chinese mid-range wine market, is working to develop a full-spectrum wine business. Its longer range plans include: boutique retail wine sales, importing of international wines into China, and bottling wine products in China with imported grapes and mixing agents. The company also holds, and is responsible for, an approximately 4-acre Alaskan gold mining lease from a previous venture.
The company is making quick progress in achieving its long-term goals. Its first steps have been achieved through alliances and agreements with necessary companies and agents familiar with the Chinese wine and spirits marketplace. A 15-year agreement with Hong Kong-based Legacy Wine & Spirits Merchants, for a general license to manufacture, distribute and sell spirits in China, has been put in place to enable the company to begin Chinese operations. It has also established agreements with Nine Dragons Winery & Development Company and Crown Star Holdings Company (a Canadian company with offices in Canada and Hong Kong) for worldwide wine sourcing.
From all appearances, the company is making a solid and calculated beginning in the Chinese mid-range wine and spirits marketplace. Through the end of 2008, the company expects to open two boutique retail outlets to establish a Legacy wine brand within China. To date, one retail outlet has been established. As the company puts the various parts of its plan into place, it will begin bottling and marketing Legacy products along with a selection of wines from around the world. Currently, Crown Star Holdings has arraigned for a variety of Italian wines to become a part of the Legacy project.
Even though there is widespread agreement that a worldwide economic slowdown is arriving, the Chinese middle class has been established. Having had a taste of what being middle class offers – in comparison to China’s recent economic past – there is little chance of this middle class giving up the gains they have made. Legacy Wine & Spirits has begun a building process that will likely take some time, but will succeed as the taste for a good bottle of wine becomes a need.
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