ASC, the leading importer in China, has just opened its “Wine Residence” in Shanghai, a luxurious wine centre consisting of 180 fully equipped cellars that will be rented out to private customers in which they can keep their best wines. The centre also includes tasting rooms, a library, a museum and a retail outlet, where ASC will always have available a range of 2,000 wines worth $1.5 million. The “Wine Residence” should also host training courses and introductions to wine run by the Wine and Spirits Education Trust (WSET). (Source : VSB)

The Quebec Société des Alcools (SAQ) has just announced that a fund is to be set up to develop the sommellerie profession by contributing to the expansion of accredited professional training organisations (ASPs). 550,000 Canadian dollars (€378,500) will be invested over five years to enhance programmes and develop infrastructures. (source VSB)

Marcus Moller-Racke, CEO of the German group Racke, has announced the sale of its Hechstein winery in Mainz am Rhein to Grands Chais de France. The deal includes the winery and bottling unit as well as the Amselkeller, Bongeronde, Rosière and Viala brands (representing turnover of €24 million). In this move, Racke leaves the bottom-of-the-range wine segment of products sold at less than €3 per bottle, to focus on international joint ventures and its premium brands such as Lamberti and Yellow Tail. (Source : Décision Boissons)

In its 2020 strategic plan adopted a little more than three years ago, the Argentinean wine industry set itself the ambitious objective of reaching $2 billion in export sales. For 2007, the objective was $600 million, which was already exceeded in November with $610 million worth of wines and musts exported, an increase of 32.5% over 2006. The 2008 objective is $800 million, double that of 2005. The US accounts for almost a quarter of the Argentinean exports, followed by UK, Canada and Brazil. (Source : VSB)

Louis Latour, whose head office is in Beaune in Burgundy, France announced yesterday that they had taken over wine company Fessy at St-Jean-d'Ardières in the Beaujolais area. Fessy sells more than 2 million bottles per year and owns a

15-hectare estate. The price paid for the acquisition was not stated. Louis Latour, a

2-hundred-year-old family business, run by Louis-Fabrice Latour representing the seventh generation, sells 8 million bottles per year achieving a turnover of €55 million. (Source : www.lefigaro.fr)

The Austrian Minister of Agriculture gave his approval last December for the founding of a new AOC: Kremstal DAC. The Kremstal wine growing area is one of the oldest in Austria. Located on the banks of the Danube between the regions of Wachau and Kamptal, Kremstal is the fourth DAC in the country, following Weinviertel (2003), Mittelburgenland (2006) and Traisental (2007). The new name enters into effect for wines from the 2007 harvest onwards.

Rémy Cointreau’s strategy of re-focussing its efforts on premium liqueurs has paid off: demand is soaring, especially in Russia and China. Having increased its prices, the French group has achieved organic growth that is increasing its underlying operational profit by 12.7%, reaching €65.5 million in the first half year spanning 2007 and 2008. Sales reached €374.4 million, up 5.7%. (Source Les Echos)