FOREIGN CASH HAS BROUGHT MARKETING NOUS, BUT NOT A LOT OF CHANGE TO RICE SPIRIT STATUS QUO
June 1st, 2009
BY MARK GODFREY
A COLLAPSE in demand for premium baijiu, China's fiery clear rice wine-based spirits, may suggest investments already made by multinational drinks firms were ill-timed. A battering for China's export-driven economy has badly dented sales at premium producers like Wuliangye and Maotai. Enrico Perlo, China-based manager for Guala Closures, maker of seals for bottlers including several baijiu makers, said sales fell dramatically this year during Chinese New Year, normally a peak sales period, because companies were reluctant to hand over the ...
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