China's leading liquor producer Kweichow Moutai has denied reports the brand will apply for luxury goods certification, the Beijing News has reported.
According to an earlier article in a Xiamen-based publication, a director of the Moutai Group said that the retail price of a bottle of Flying Moutai, one of the group's products, will exceed 5,000 yuan (around 787 U.S. dollars) within three years and Moutai will apply for luxury goods certification to related international organizations within two years.
However, the publicity department of the Moutai Group said they had no knowledge of this.
In April, Ji Keliang, the then board chairman and current honorable board chairman of the Moutai Group, promised that Moutai products would not be made into luxury goods. Although Ji's post changed in October, industry insiders didn't expect Moutai would change its plans after such a short time.
Meanwhile, Wuliangye, another of China's leading liquor makers, also made clear on Thursday that Wuliangye would not make its liquor products into luxury goods, even if Moutai did.
Wuliangye's board chairman Tang Qiao said the prices of both Moutai and Wuliangye products still are a large distance from the prices of luxury goods. He also added that Wuliangye would not increase the prices of its liquor products this year.
A recent report on luxury goods in China, issued jointly by the luxury research centre of China's University of International Business and Economics and the World Luxury Association, has identified the liquor industry as the industry with the most potential to produce luxury goods in China. Moutai and Wuliangye were listed as the top two likeliest companies to become luxury brands.
According to an earlier article in a Xiamen-based publication, a director of the Moutai Group said that the retail price of a bottle of Flying Moutai, one of the group's products, will exceed 5,000 yuan (around 787 U.S. dollars) within three years and Moutai will apply for luxury goods certification to related international organizations within two years.
However, the publicity department of the Moutai Group said they had no knowledge of this.
In April, Ji Keliang, the then board chairman and current honorable board chairman of the Moutai Group, promised that Moutai products would not be made into luxury goods. Although Ji's post changed in October, industry insiders didn't expect Moutai would change its plans after such a short time.
Meanwhile, Wuliangye, another of China's leading liquor makers, also made clear on Thursday that Wuliangye would not make its liquor products into luxury goods, even if Moutai did.
Wuliangye's board chairman Tang Qiao said the prices of both Moutai and Wuliangye products still are a large distance from the prices of luxury goods. He also added that Wuliangye would not increase the prices of its liquor products this year.
A recent report on luxury goods in China, issued jointly by the luxury research centre of China's University of International Business and Economics and the World Luxury Association, has identified the liquor industry as the industry with the most potential to produce luxury goods in China. Moutai and Wuliangye were listed as the top two likeliest companies to become luxury brands.
