Moutai exports top $369m
Chinese baijiu maker Kweichow Moutai has experienced supply shortages for international markets for the first time as exports reached US$369 million in the 10 months to 31 October.
Exports from baijiu maker Kweichow Moutai were valued at US$369 million
Increased demand for the Chinese manufacturer’s products saw exports grow during the period, and for the first time the producer experienced a supply shortage in overseas markets.
Moutai Group chairman and party committee secretary Li Baofang said: “It’s one of the most significant changes we have seen in overseas markets since Moutai rebounded in the domestic market in 2016. We have successfully expanded our presence in markets outside China with the growing popularity of Moutai among consumers around the world, thanks to the tireless efforts of everyone at Moutai Group that now date back several years.”
According to Baofang, it is “very likely” that Moutai will achieve sales of 100 billion yuan (US$14 billion) before the end of this year.
The past year has also seen the Chinese liquor manufacturer appoint a new distributor under a “trial arrangement” and launch its products in 10 new stores across its international markets. Moutai currently has 107 overseas distributors in 64 countries across five continents.
Li Jingren, Moutai Group general manager and party committee deputy secretary, said: “We hope our overseas distributors will continue to support the further growth of Moutai and work closely with us to reshape the overseas markets by building a broader consensus and enhancing a better understanding of the Moutai culture as we seek to better understand each market’s culture around the consumption of alcoholic beverages.”