Changyu sets goal of ballooning out China's brandy market
Consumers are developing a strong appetite for high-end liquor in China's market, experts added. They said brandy will be the preferred tipple, because it is fashionable and is a high quality drink.
China's current brandy production, however, is still nascent. Official data shows that only dozens of domestic wine companies produce brandy and few of them are in scale.
From 2013, Changyu's brandy output took more than 96 percent market share of the domestic brandy market for five consecutive years.
"Changyu aims to sell 1 million bottles of brandy worthy 150 million yuan ($21.73 million) this year," said Jiang Hua, general manager of Changyu's brandy sales department.
The annual output of Changyu brandy in 2018 reached more than 40,000 tons, and annual sales hit nearly 1 billion yuan, accounting for a fifth of the sales revenue of the listed company.
Koya brandy is positioned towards middle- and high-end customers, said Sun Jian, general manager of Changyu.
