You are currently viewing the International Edition. You can also switch to the Hong Kong Edition.
Saturday 4 July 2015

Altaya doubles retail footprint with Rare & Fine Wines acquisition

17th January, 2013 by Euan McKirdy

One of Hong Kong’s oldest and most trusted retailers comes under Altaya’s “etc wine shops” retail banner

-1
In a major shakeup for Hong Kong’s wine industry, not least from a sentimental point of view, the city’s Rare & Fine Wines, which has maintained a retail presence in Hong Kong for over three decades, has been purchased by Altaya, a largely speciality trade and retail brand that started operations in 2001.

The merger means that Rare & Fine Wines’ three locations in Central, Sheung Wan and Tsim Sha Tsui will double, with its etc wine shops’ retail footprint expanding to six locations. The merger takes place with immediate effect.

They will remain distinct from the etc shops, which are designated by their offerings from the three major wine-producing regions of France and are named accordingly: Burgundy etc, Bordeaux etc and Champagne etc, respectively. The first etc wine shop opened its doors in 2011.

The Rare & Fine Wines outlets will continue to operate under that banner with its one-stop shop approach offering a wide variety of good value wines, fine and rare vintages as well as key spirits.

“The acquisition of Rare & Fine Wines is the perfect accompaniment to Altaya Group’s retail arm – etc wine shops,” Paulo Pong, managing director of Altaya Group, said. “It is a valued brand that is entrusted by many wine lovers and we plan to expand the number of outlets to serve more customers.

“At the same time, we welcome the passionate and professional team at Rare & Fine Wines. Together we will maintain the highest standard of service and cultivate the brand in the exciting wine industry in the Hong Kong market and beyond.”

The move also signals Altaya’s ambitions to expand into the Chinese Mainland, providing a platform for further expansion with a target of 15-20 shops in the next three years in Hong Kong and China.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

If that's interesting, how about these?

English fizz attracts new deal

English sparkling wine producer Jenkyn Place has stepped up its ambitions by more...

Accolade's Fish Hoek goes Fairtrade

South Africa's Fish Hoek is to go Fairtrade from the 2015 vintage, becoming more...

10 of Hong Kong's oldest bars

To commemorate the 18th anniversary of Hong Kong’s handover on 1 July 1997, more...

Social Media Editor

Competitive

Is Parker wrong about the 05 Médocs?

With no Médoc wines gaining 100-points in Robert Parker’s retrospective of more...

Mumm rereleases key vintages in Hong Kong

Due to the region's increasing interest in bubbles, G.H. Mumm has relaunched more...

Tour de l'Oc raises £30k for charity

Last month’s Tour de l’Oc bicycle challenge across France has raised over more...

Supplier Relationship Manager

London, United Kingdom

Lidl hints at plans for online wine shop

UK supermarket Lidl has not ruled out launching an online wine shop, reporting more...

China’s Ningxia region launches wine contest

Select winemakers will have the chance to travel to China to learn from its more...

Top 10 Hong Kong craft beer bars

Anyone looking to quench their thirst with a ginseng microbrew should more...

Global Wine Buyer

London, United Kingdom

Competitive

Rhône valley makes push on younger HK market

Rhone Valley Wines' recent annual tasting combined art and film in a bid to win more...

How to drink like a billionaire

With access to tropical islands, private yachts and the best food and drink more...

Oddbins woos Naked staff with love letters

Oddbins has allegedly been sending love letters and bottles of wine to key more...

Business Development Executive

London, United Kingdom

£25-£30K + benefits, depending on experience

Hong Kong: Red obsession

While whites are starting to be taken seriously in Hong Kong restaurants, the more...

Is fine wine turning a corner?

The Liv-ex Fine Wine 100 index is finally showing a year-on-year gain as it more...

The week in pictures: Hong Kong

The new Veuve Clicquot cocktail, the indefatigable Etienne Hugel and tasting more...

Marketing and eCommerce Manager

London, United Kingdom

Competitive, includes equity options

Constellation to buy Meiomi for $315m

Constellation Brands is to buy Napa-based wine brand Meiomi for $315 million, more...

Bilingual 'tool' demystifies wine tasting

The Australian Grape and Wine Authority has developed a new "tool" which more...

Delegat aims high with new Barossa brand

Oyster Bay owner Delegat has launched “a new global brand” from more...

International Business Development Assistant

London, United Kingdom

To be determined, based on the profile and experience of the candidate

Austrian wine importer launches in Hong Kong

A wine importer specialising in Austrian wines has launched in Hong Kong to more...

Range of Victorian gins launched in UK

A range of gins celebrating the Victorian gin-making era has been launched in more...