Jebsen Group (Jebsen), a leading marketing and distribution organisation for premium products in the Greater China region, today announced that revenue for its wine business grew 25 percent in 2012, outpacing the industry average.
Jebsen Fine Wines, a division under the Group’s Beverage Business Unit, expects growth to continue as it expands further into markets outside of first-tier cities in China while consumers increasingly seek out mid-priced wine brands.
In 2013, Jebsen Fine Wines will boost its regional presence, launch a new online B2C sales platform, and increase its manpower by 10 per cent. Founded over 20 years ago, Jebsen Fine Wines is keenly aware of the trends and evolution of Greater China’s wine industry.
“We believe that the region’s wine market is becoming less polarised and more diversified, reflecting consumers’ increasing wine knowledge and growing rationality,” said Gavin Jones, Director of Jebsen Fine Wines. According to latest figures released by the Hong Kong government, while the volume of imported wine in Hong Kong increased 9.2 percent to 38 million litres during the first nine months in 2012 over the same period in 2011, the value of imported wine declined 18 per cent to HKD5.9 billion.
In Mainland China, where the wine market is less mature, China Customs reported that the value of imported wine only increased 10 percent to HKD12.3 billion in 2012, compared to the 80.9 percent increase in 2011. Industry watchers expect the market for imported mid-priced wines to double in the next four years. “Like we have seen in China’s luxury car and watch markets, Chinese consumers are maturing quickly, developing a taste that extends beyond the most expensive wines as they seek out new and more diverse wine experiences,” Jones added.