Legacy Refocuses on China Wine Market
01 November 2011 - 10:30PM
Legacy Wine & Spirits International Ltd. (Pink Sheets:LWSP) an
importer, wholesaler and retailer of fine wines in China announces
that the Company will be refocusing its marketing strategies on the
China Wine Market again.
Due to recent scandals regarding wine bottled in China, the
integrity of both domestic and imported wines being bottled in
China has been questioned. Even the national brand Great Wall has
been dragged into the controversy of fake wines being blended and
bottled with little or no grape juice with known labels for an easy
profit. In light of this, Legacy has decided to continue importing
bottled wines from credible winemakers in the U.S., Italy and other
wine countries rather than bottle the wine in China.
In addition, the Company has decided to concentrate on
developing its business in China rather than pursue the U.S. market
in franchising its Legacy Wine Merchants brand. Various factors
continuing to drive the wine demand in China are rising income
levels, stronger distribution networks, changing consumer
lifestyles and good wines distributed as gifts.
The Company will be targeting the eastern and southern part of
the China wine market in the future rather than just concentrating
on the central and northern parts as it has to date. Also
increasing sales through wholesale channels will be used more
rather than just focusing on franchises only.
About Legacy Wine and Spirits International
Ltd:
Legacy Wine and Spirits International Ltd. (Legacy) is a
publicly listed fully reporting company trading in the United
States (Pink Sheets:LWSP). The Company is in the business of
importing bottled wines from around the world for the purpose of
wholesale and retail distribution throughout China, in particular
through the Company's corporately owned stylish outlet showroom and
wine tasting facility.
Visit our site:
www.legacywineandspirits.com
The Legacy Wine and Spirits International Ltd. logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=8328
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing and
evaluation of products and other risks detailed from time to time
in Legacy's filings with the Securities & Exchange
Commission.
CONTACT: Jaclyn Cruz, President
1-888-488-6882
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