Sep 05, 2019 (China Knowledge) - China Tontine Wines (0389.HK) announced that it will team up with Haidilao International Holding (6862.HK) to release Haidilao sparkling using mountain grape, a specially-tailored wine for Sichuan spicy hotpot diners.
The wine’s grape supply comes from Ji’an city, Jilin Province, which is one of the few regions in the world where mountain grape can be cultivated. In recent years, the world’s largest hotpot chain Haidilao is committed to promoting the diversification of product types and to increase the medium and low price wine products to cater to the mass market.
Haidilao says this cooperation can not only provide a new revenue source for the group but also improve consumer’s acceptance of grape wine, which will further raise China Tontine’s brand awareness.
This is the first time that the company has customized wine for its chain restaurants. The first batch of products has been sold in some Haidilao restaurants.
Beijing-based Haidilao opened 130 new restaurants in the first half of the year and the total number of global stores increased to 593 from 466. Its income reached RMB 11.695 bln, up 59.3% YoY, while the company’s net profit totaled RMB 911 mln, a YoY increase of 41%. The CEO of the company, China’s hotpot king Zhang Yong has recently replaced real estate magnates as Singapore’s richest man.
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