Asian thirst for wine feeds new investment market
Asian thirst for wine feeds new investment market
Nov 20, 2011 6
(AFP) - Asia's thirst for rare and fine wine is moving beyond the dining table as the industry seeks to tickle the region's capital markets as well as its taste buds.
China is already the fastest-growing wine consumption market globally, and industry experts say wealthy Chinese business people are now also developing an appetite for the investment opportunity that wine offers.
"Wine is a very passionate subject, much more so than stocks and shares. It's a passion as well as an investment for our clients," said Stephen Wickens, the managing director of Wickens & Co, a Hong Kong-based wine investment firm.
"It's a very safe investment and it's very attractive at this time when people are uncertain about the stock and property markets."
Two thirds of the 18-month-old company's clients, totalling about 500, come from China and Hong Kong. Wickens reckons his client base will double next year.
Comments