--FILE--A customer shops for a bottle of Changyu dry red wine at a supermarket in Xuchang city, central Chinas Henan province, 16 June 2013. In li
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Imaginechina Limited / Alamy Stock PhotoImage ID:
W8DGYJFile size:
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3456 x 2304 px | 29.3 x 19.5 cm | 11.5 x 7.7 inches | 300dpiDate taken:
16 June 2013Photographer:
ImaginechinaMore information:
--FILE--A customer shops for a bottle of Changyu dry red wine at a supermarket in Xuchang city, central Chinas Henan province, 16 June 2013. In line with overseas investment craze among Chinese enterprises, Changyu, China's leading wine brand, is actively seeking overseas acquisitions after establishing an investment company with €10 million (US$10.6 million) in capital in France last October, reports the Guangzhou-based 21st Century Business Herald. Changyu is setting its sights on the five major wine markets of France, Spain, Italy, Australia, and America, where it is looking for potential acquisitions or agencies to help push sales on the Chinese market. The brand has bottlenecked at a 50% share. "In order to make Changyu a topnotch international winery, we have to own a host of renowned brands, just like Constellation Brands of the US, " said Zhang Yu, vice president. According to its recently unveiled plan, the company intends to boost the share of imported wines to over 30% of its revenue, up from 2% in 2014.