Pricey Cognac Is A Big Seller In China

by Deidre Woollard (RSS feed)
Jun 18th 2009 at 6:01PM

Cognac buyers are still buying the expensive bottles in China. Blloomberg reports that Chinese buyers have snapped up all the available bottles of Pernod Ricard SA's Martell L'Or cognac. As I mentioned back in April, this pricey potable sells for $3,600 per bottle. The cognac, which includes eaux-de-vie dating back to 1871, was introduced in China at the end of last year. L'Or was Martell's answer to ultra-premium products available from Hennessy and Remy Martin for similar prices. The immediate status factor of a rare and old liquor contained in a crystal bottle seems to be irresistible thus far for China's newly wealthy.

Tags: china, cognac, lor, martell

Filed under: Spirits

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jimi Jun 23rd 2009 1:12AM

What a tall story. I heard from a liquor distributor in China that they were flown to Paris for the launch of L'Or and had to each place a few crates order if they want to retain their distributorship. Basically the stock of L'Or went onto the dealer's warehouse and is still sitting there as the market for high-end liquor in China has collapse because of the recession.

jimi Jun 23rd 2009 1:14AM

What a tall story. I heard from a liquor distributor in China that
they were flown to Paris for the launch of L'Or and had to each place
a few crates order if they want to retain their distributorship.
Basically the stock of L'Or went onto the dealer's warehouse and is
still sitting there as the market for high-end liquor in China has
collapse because of the recession