Chinese Wine Association Offers Free Wine Cellars
Wine promotion in China has really moved into high gear. The International Wine Culture Promotion Association will give out 100,000 cellars to encourage wine drinking. The cellars, which are worth around 1,000 dollars each, will only go to those who own a home and a car or who have a career in the banking, aviation or telecommunications industries.To get the cellar the recipients have to first pay around $380 to join the association. The cellar has been described by the Xinhua news agency as a wooden structure which is meant to be installed outside of the house. Sounds like more of a wine shed to me. The interesting part of the story to me is that the association has used investments from wineries from 11 countries to fund the project which should cost 64 million dollars. I'm guessing that countries such as France and Australia, which have suffered wine gluts recently, are part of the investment team.
Reader Comments (Page 1 of 1)
Andy Dec 1st 2006 2:18PM
You have to love this... Where can I get one...
Doing the numbers... Your Yuan-Dollar conversion is sound but the 100,000 at USD $1000 a piece totals to USD $100,000,000. As stated above the investment by wineries leaves the program short a close to USD $40 million. Wonder where that money is come from?
Of course like other businesses, wineries have realized the importance of the Chinese market.