BUSINESS China's top liquor brand Moutai reports surge in overseas sales

BUSINESS

China's top liquor brand Moutai reports surge in overseas sales

Xinhua

21:20, January 05, 2019

GUIYANG, Jan. 5 (Xinhua) -- China's leading liquor maker Kweichow Moutai earned $430 million from exports in 2018, up 28.6 percent year on year, the company said Saturday.

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File photo: VCG

The company reported a business revenue of around 75 billion yuan ($11 billion) in 2018, up about 23 percent year on year.

Currently, Moutai has 115 overseas dealers in 68 countries and regions.

Moutai will maintain its quality, work on both the domestic and overseas markets and develop brand marketing, aiming to earn a revenue of over 100 billion yuan in 2019, said Li Baofang, chairman of Moutai Group.

Moutai is a sorghum-based spirit produced by Kweichow Moutai and is China's top brand of baijiu (white alcohol). The liquor, which is often served on official occasions and at state banquets, is considered a luxury item and has long been a popular gift.

Despite its high price, domestic demand for Moutai has always exceeded supply.

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