Chinese Liquor Maker Luzhou Laojiao Plans to Set Up a Company in US
Liao Shumin
DATE:  Sep 14 2017
/ SOURCE:  Yicai
Chinese Liquor Maker Luzhou Laojiao Plans to Set Up a Company in US Chinese Liquor Maker Luzhou Laojiao Plans to Set Up a Company in US

(Yicai Global) Sept. 14 -- Chinese liquor maker Luzhou Laojiao Co. [SHE:000568] said it will partner with Jiutai Liquor Sales Co. to establish Mingjiang Co. in the United States to further expand into overseas markets.

Mingjiang will have a registered capital of USD6 million and Luzhou Laojiao will contribute USD3.24 million in cash for a 54-percent stake in it.

The company will engage in the development and sales of new Chinese liquor to promote the group's internationalization strategy.

The enterprise will produce cocktail with Luzhou Laojiao liquor and promote the liquor-based drink globally. After more than one year of exploration, it has made a tasty cocktail using bases such as Guo Jiao 1573 and Luzhou Laojiao Tequ, Luzhou Laojiao Executive Deputy General Manager Wang Hongbo said in an interview with Chinanews.com in March.

The group unveiled Anxiang Shili, whose ingredients include Guo Jiao 1573, lavender tea water and honey, in December last year. It has not yet been sold openly.

Chinese liquor-based cocktails gained popularity in the international market. Chinese liquor is available at bars in Washington, Washington-based DCist reported. Post Magazine also noted the trend, saying that pubs use Moutai, Fenjiu and Dongjiu.

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Keywords:   MSCI,Cocktail,Liquor