China’s flagging economy is causing people to drown their sorrows. That’s fine by Kweichow Moutai , the country’s largest maker of baijiu, the national firewater. The $332 billion distiller reported a 24% net profit jump in the first quarter as sales touched 33 billion yuan ($5 billion). It’s an historical record, per Refinitiv data, accompanied by solid progress on its initiative to boost margins by cutting out middlemen. Direct sales contributed a third of revenue, twice as much as a year earlier.
Each year drinkers in China spend about three times more on baijiu than they do on beer and roughly 15 times more than on wine
ECONOMIST.COM
Can baijiu, China’s sorghum firewater, go global?
In 2007, it bought a 55 per cent stake in Wenjun, a brand of baiju – a clear grain spirit popular in China – in an attempt to transform the image of the drink away from cut-price firewater to a luxury brand.
該集團在2007年就購入了中國白酒生產公司文君55%的股權,意圖改變該品牌“低價烈酒”的形象,把它打造成一個高端品牌。白酒是一種穀物酒,在中國極其流行。
sorghum
firewater
strong liquor.
Beaches and the ‘body beautiful’, samba and beer, football and the local firewater called cachaca are a way of life here.
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