The Swedish company will own a 51 per cent stake in the JV, with Jiannanchun holding the remainder. The JV is expected to be operational in the third quarter of this year.
According to Sam Mulligan, director of Data Driven Marketing Asia, which was appointed by V&S three years ago for research and consultancy into the baijiu (or Chinese liquor) category, last month LVMH’s Moet Hennessy wines and spirits department bought a 55 per cent stake in Wen Jun Distillery in China.
“Baijiu is the most popular domestic spirit in China, but there’s still room for a leader in the category.”
