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Budweiser to focus on growing high-end beer market, acquisitions in Asia

Budweiser Brewing Company APAC, the Asian business of Belgian beer giant Anheuser-Busch InBev (AB InBev), will focus on growing its premium brands while seeking opportunities to partner with or acquire local brewers, company officials said on Thursday.Budweiser, the largest beer company in Asia-Pacific by sales last year, is in the process of raising up to US$9.8 billion in a Hong Kong listing, which is set to surpass Uber to become the world’s largest initial public offering this year.“We want… Source link

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Hong Kong reclaims crown as global hub for high-end Bordeaux wine

Hong Kong has become the top export destination for high-end Bordeaux wine for the first time since 2011, knocking China from the No 1 spot.In 2018 Hong Kong accounted for 16 per cent of wine sales by value from Bordeaux, the famed wine growing region in southwestern France, according to the Bordeaux Wine Council (CIVB).Hong Kong ranked top of the league tables for high-end Bordeaux in 2011, before being overtaken by the UK for one year, and then the mainland from 2013 through 2017.The… Source link

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China 

Trade war to hit high-end US fashion brands dependent on specialised Chinese manufacturing

High-end US fashion brands have become more reliant on China for manufacturing, making them more vulnerable to an increase in trade war tariffs, a new study shows.While imports of basic apparel items such as T-shirts and underwear can easily be shifted to lower-cost production hubs such as Vietnam, Cambodia or Bangladesh, China has become so specialised in the manufacturing of higher-value goods such as accessories and coats, that US brands may be forced to stomach the tariff hike.Research from… Source link

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US-China trade war could put a huge damper on Chinese demand for high-end American clocks

Mechanical clocks have become the latest victim of the ongoing trade war between Washington and Beijing. A Chinese distributor of high-end mechanical clocks made in the US said recently the sales outlook for the goods on the Chinese mainland appears challenging as the impact of a 10 per cent tariff begins to take effect. Meanwhile, the outlook for high-end European clocks appears brighter, as these products are set to enjoy a drop in Chinese import duties. “At the beginning of the year, I was very confident, but this year is…

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Shanghai’s ‘Quarry’ hotel set to tap growing taste for luxury, high-end business travel

After a marathon construction process marred by technical setbacks, a luxury hotel built on an abandoned quarry near Shanghai has opened to the public – and so far the rush of bookings seems to vindicate the efforts by one of China’s riches men to create a local landmark. After 12 years of development, the 2 billion yuan (US$288.2 million) hotel, developed by Shimao Group, officially opened on Tuesday. Expectations are the luxury concept, branded as the InterContinental Shanghai Wonderland Hotel, will tap growing interest among mainland consumers for a taste…

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