date:May 07, 2012
A timely note issued by Morgan Stanley yesterday suggested imported spirits already generated more than EUR500m (US$656.1m) of EBIT and that could double by 2015.
However, the penetration is tiny compared to the continued dominance of local products. Western-style spirits currently account for only 1% of the market in China.
Scotch whisky and Cognac remain the in demand products as the thirst for luxury goods among China's upper echelons shows little sign of abating.
But, for the vast majo