久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / Companies

Iconic Chinese brand still in low spirits

By Wang Zhuoqiong (China Daily) Updated: 2015-09-08 08:38

Iconic Chinese brand still in low spirits

Bottles of Shuijingfang liquor are for sale at a store in Shanghai, China, Feb 2, 2015. [Photo/IC]

Upmarket baijiu label Shuijingfang has struggled to turn its business around after being hit by the austerity campaign in 2013

James Rice could not have arrived at a more difficult time. The Los Angeles-born executive took over as CEO of the upmarket baijiu company, Sichuan Swellfun Co Ltd, in March 2013.

Despite having a huge consumer base, the company that makes the unique Chinese spirits brand Shuijingfang was feeling the aftershocks of the government's anti-corruption drive, which hit the luxury label sector.

"About the time I arrived, the industry started to go on a slide," Rice told Marketplace, a radio program produced by American Public Media in the United States in November, 2013. "Our sales (were) down 50 percent. We had to give a warning to the stock market that our profit (would) be down."

To cope with the impact, baijiu companies had to change their price strategies by focusing on middle market consumers, according to Euromonitor International Ltd, a market intelligence firm based in the United Kingdom.

As the austerity campaign started to bite, sales of liquor brands costing more than 500 yuan ($79.4), dropped by 50 percent. It was bad news for Swellfun, one of the oldest breweries here, and now part of Diageo Plc, the world's largest alcoholic beverages conglomerate based in the UK.

At one point, the company's cheapest label retailed at 858 yuan, so Rice decided to develop a range of medium-to low-end spirits, priced between 98 yuan and 530 yuan. But those labels have struggled to take off. Moving into the lucrative e-commerce market was another bold move, while baijiu, which is made from a mixture of rice, wheat and corn, was rolled out to Western consumers.

"My job role today is to take a very traditional Chinese company in a very traditional Chinese industry and adapt Western practices to it," he told Marketplace back in 2013. "I've got to globalize the company."

Rice, who is leaving Swellfun at the end of this month to pursue other undisclosed ventures in Shanghai, also streamlined the company by closing down a project in Sichuan province. The decision saved the iconic brand 682 million yuan in cash and 1 billion yuan in future investment. Brought into to run Swellfun after helping multinational corporation Tyson Foods break into the Chinese market, Rice has played a major role as the company went through a tough financial climate.

In 2012, its annual revenue was 1.63 billion yuan. A year later, it dropped to 486 million yuan before falling again to 365 million yuan in 2014. In the first half of this year, revenue was 388 million yuan, an increase of 174.1 percent.

Previous Page 1 2 3 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲欧美日韩久久精品第一区 | 91精品在线国产 | 日韩亚洲天堂 | 久久久国产精品网站 | 在线视频精品视频 | 手机看片久久国产免费不卡 | 欧美日韩一区二区三区视频播 | 一区二区国产精品 | 99ri在线观看| 午夜性生活视频 | 99国产精品久久久久久久日本 | 免费国内精品久久久久影院 | 自拍视频在线观看视频精品 | 综合精品 | 成人午夜免费视频 | 99久久伊人一区二区yy5o99 | 久草视频资源在线 | 夜间福利网站 | 中文字幕亚洲精品第一区 | www成人国产在线观看网站 | 99视频精品全部 在线 | 一级a欧美毛片 | 久久狠狠色狠狠色综合 | 一区二区三区免费观看 | 日韩精品一区二区三区高清 | 日本在线视频观看 | 欧美一区二区三区在观看 | zztt40.su黑料不打烊官网 | 暴操女人 | 午夜dj视频完整社区 | 六月成人网 | 亚洲综合免费 | 91久久青青草原免费 | 在线视频一二三区 | 青青影院一区二区免费视频 | 国产精品久久大陆 | 国产成人高清精品免费软件 | 女人张开腿让男人桶视频免费大全 | 亚洲国产天堂在线网址 | 三级视频网站在线观看播放 | 一区二区三区日韩 |