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What's News? December 3, 2013 | 0 Comments

“Prohibition” on baijiu continues

Baijiu industry analysts are talking on “prohibition” on high-end spirits after big losses from a key distributor for Wuliangye. Yinji Group, one of Wuliangye largest distributors, reported HKD 771 million in losses during the 2nd and 3rd quarters of 2013. While Yinji pointed out that the period between Spring Festival and Mid-Autumn Festival (late-January to mid-September) is typically slow due to lack of holiday-related gifting, the company lost even more–HKD 957 million–during the first quarter of 2013 and the last quarter of 2012. The wider issue remains a push to clean up conspicuous consumption of the sorghum spirit.

Source: Netease

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