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A positive reaction to the wine duty exemption and various other wine industry supportive measures have seen Canada-based Wines to Go Ltd enter Hong Kong's vibrant wine industry with the opening today (December 17) of its first retail shop in Hong Kong, located in the Mong Kok East MTR station concourse on the East Rail Line.
Wines to Go Ltd aims to bring a fresh and exciting selection of fine wines from around the world into Hong Kong and the Asia region. The company's goal is to open up the market to wines other than Bordeaux and to let consumers discover other quality wines at competitive prices in an open and attractive space where wines are featured based on their style and taste profiles.
The company's first wine shop in Hong Kong is the first such licensed premises to operate inside the MTR station. The wine retailer is endeavouring to present wine in a user-friendly location to capture passing young professionals who have a burgeoning interest in wine. The company plans to further expand its business in Hong Kong by opening several more shops along the MTR lines in the next 12 months.
President of Wines to Go Ltd, Mr Leo Baduria, said, "The trend in wine appreciation in Asia continues to grow and will affect the global wine industry in the coming decades. Our decision to expand Wine to Go Ltd into Hong Kong is the result of the rapid growth and promising prospects of the city's wine industry. Hong Kong provides the best combination of efficiency, world-class infrastructure and sophisticated culture, the key determinants behind our investment in this city."
Commenting on the strategic regional role of its Hong Kong operation, Mr Baduria said, "Hong Kong remains the best hub in Asia for the wine market because of its highly efficient systems and zero duty on wine. We will keep Hong Kong as our regional headquarters as we grow, enabling us to manage our business operations in other cities in Asia from our hub in Hong Kong."
Officiating at the opening ceremony of Wines to Go Ltd's first retail outlet in Hong Kong, Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Charles Ng, warmly welcomed the company's establishment in Hong Kong. He said, "We are delighted to have a Canadian wine retailer expanding its business into the Hong Kong market. The presence of Wines to Go Ltd not only enriches the portfolio of the wine industry in our city, but also enhances our position as a regional hub for wine-related businesses. Our investment promotion teams stand ready to provide further support and assistance to Wines to Go Ltd in its future business expansion here and regionwide."
Mr Ng also said that since the exemption of wine duty in early 2008, many wine sector-related companies have set up or expanded their businesses in Hong Kong to provide support in areas such as trading, storage, distribution, auctions, etc. He noted that the new policy has also brought benefits to related economic activities such as tourism, catering and hospitality and exhibitions.
About Wines to Go Ltd
Wines to Go Ltd's parent company, Portfolio Wine & Spirits Inc, was established in Toronto, Canada since 2001. The company aims to bring into the Asian market a fresh and exciting selection of fine wines from around the world. Wines to Go Ltd opened its first retail shop in Hong Kong in December 2009. For more information, please visit www.winestogo.com.hk.
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for Foreign Direct Investment, supporting overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong. We provide free advice and customised services to help your business succeed in our vibrant economy. For more information, please visit www.investhk.gov.hk.
Ends/Thursday, December 17, 2009
Issued at HKT 16:01
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