PARIS (Reuters) - A red wine produced in China and backed by the makers of Moet & Chandon champagne may be tickling Chinese consumers’ tastebuds in four to five years’ time.
The so-called “Shangri-La” wine, a joint venture between French wine and spirits group Moet Hennessy and China’s VATS group, will be grown at an altitude of 2,400 meters in the mountains of China’s southwestern Yunnan province.
It is the latest bid by Moet Hennessy to tap Chinese demand, following last year’s announcement of a joint venture with a local agricultural company to make “high-end” sparkling wine.
Moet Hennessy parent LVMH also acquired Chinese spirits brand Wenjun in 2007 as part of its push into the market.
“We will be able to offer Chinese consumers a premium quality red wine within four to five years,” Moet Hennessy Chief Executive Christophe Navarre said.
Reporting by Lionel Laurent