GG_N47_Complet_Italie

IMPORTER
INSIGHT
IN 2022, HONG KONG
IS STILL A VIBRANT HUB
FOR WINE
BY ELLEN BUDGE
PHOTOGRAPHS:
COURTESY OF THE ESTATES
It’s been over a decade now since Hong Kong abolished taxes on wine and since then the region
has delivered on its promise of becoming the wine hub of Asia. The market is supported by a
plethora of experienced fine wine merchants, one of which is Pinewood Wine. Its managing
director Edward Lau outlines where the market is heading.
EDWARD LAU PINEWOOD
According to official forecasts, wine trade revenue in Hong Kong is expected to grow 7.63%
per annum between 2021 and 2025, underscoring the market’s vibrancy. Here too, Covid-19
has been a game-changer but Pinewood Wine, founded in 2013, has successfully leveraged some
of those changes. “When people are restricted from dining out, the major revenue falls on online
platforms/supermarkets”, says Lau, whose company’s key partners are e-commerce platforms
such as HKTVmall, Ztore, Clublike and Big Big Channel. The e-tailers generate impressive sales
volumes, with single items potentially selling 30,000 bottles on just one platform. Likewise, the
switch from travel to wine and dine spending is a major focus for Pinewood Wine, which also
works with dining groups such as Mira Dining and the Shangrila group to roll out a number of
brand-promotion programmes. The focus aligns well with its portfolio, heavily skewed towards
Old World wines, mainly France, Spain and Italy. It runs the gamut in terms of pricing, from
entry-level through to expensive fine wines, and both ends of
the spectrum are currently performing well. Its range embraces
over 1,000 wines, including 22 exclusive brands, some of them
prestigious wine estates and family-owned boutique wineries
imported directly to Hong Kong and Macau. Aside from value
for money, which is always top of the buying agenda, Pinewood’s
team of young, adventurous buyers – mirroring its clientele –
sets great store by exclusiveness. “A lot of trust is needed for this
kind of partnership since we tailor marketing and sales strategies
to each supplier based on their product portfolio”, explains Lau,
who foresees continued growth in the market going into 2022.
His optimism stems from a patent thirst for knowledge and good
wine in Hong Kong: “More and more people are interested in
taking wine courses or wine appreciation classes as entertainment”,
he says, pointing to the potential this holds for under-theradar
wines to capture consumers’ imagination.
26 SPRING 2022 • GILBERT & GAILLARD - THE FRENCH EXPERTS ON WINE