I EXCLUSIVE INTERVIEW I © Philippe Labeguerie IT WILL BECOME THE RESPONSIBILITY OF WINE MERCHANTS AND PRODUCERS TO GO OUT AND MEET THE PLAYERS ON THE CHINESE MARKET. Rodolphe Lameyse Vinexposium CEO 6 THE DAILY • TUESDAY 21 MAY <strong>2024</strong> vinexpoasia.com
I EXCLUSIVE INTERVIEW I Vinexpo Asia <strong>2024</strong> a "small spark" helping rekindle the wine and spirits industry in China Vinexposium CEO Rodolphe Lameyse enthusiastic about the show's return to Hong Kong after six years Ahead of this year's Vinexpo Asia, <strong>The</strong> <strong>Daily</strong> spoke with Vinexposium CEO Rodolphe Lameyse in an exclusive interview about the history of Vinexposium's connections with Hong Kong, the changes the wine and spirits industry has undergone in Asia in recent years and why face-to-face events are now more strategic than ever. This will be the Vinexpo show’s first time back in Hong Kong in six years. After Vinexposium’s return to Asia in Singapore last year, what strategic advantages does Hong Kong offer for fostering business development and networking within the global wine and spirits market? <strong>The</strong> last Vinexpo in Hong Kong was in 2018. It was only six years ago, but it's almost like it was another world. <strong>The</strong> pre-Covid era and the pre- Vinexposium era. Everyone is familiar with the impact Covid had on the world and the industry. It's also different in that it was the time of Vinexpo, but not yet Vinexposium. Back then, we had one show a year, either in Bordeaux or Hong Kong. Now we've changed completely with one show a year in Paris, one show a year in the United States, one show a year in India, and one show a year in Asia, alternating every other year between Singapore and Hong Kong. But it's still a real comeback because Hong Kong remains a privileged place due to its attractiveness and geographical position. Hong Kong is now, more than ever, the gateway to the wine and spirits market in China. How does the enduring relationship between Vinexposium and Hong Kong contribute to the success of Vinexpo Asia? Vinexposium has a very strong history with Hong Kong that goes back 26 years. It's a relationship that has continued except during the Covid period. We have important contacts with service providers, the Hong Kong Convention and Exhibition Center (HKCEC), the Hong Kong Tourism Board (HKTB), and even within the Hong Kong SAR government. It's a very strong relationship, which is very important for us and is also a guarantee of success for the upcoming edition. While Vinexposium's return to Hong Kong is being met with a high level of participation, I think it will be very positive for the whole industry to see that the market in China is starting to pick up again and that Vinexpo Asia <strong>2024</strong> might be the small spark that gets the engine going. How has the Chinese wine and spirits market changed in the last few years? <strong>The</strong> Chinese market for spirits and wines has been deeply transformed over the last six years. Why transformed? Because there were two or three years of travel restrictions as well as restrictions to access to the hotel and catering industry, which is still a major act of consumption in China. Culturally, it is more common to go to restaurants often and gather there together with family, friends and colleagues, it isn't common to entertain at home in the same way it is in Europe. So this has profoundly transformed the way alcohol is consumed in China and Asia as a whole. This has had a major impact on the economy. Unsurprisingly, a lot of businesses, hotels, bars and restaurants have closed and probably disappeared. But I'm a believer in the French physicist Lavoisier's saying: "nothing is created, nothing is lost, everything is transformed". I think that's exactly what's happening on the Asian market. Probably the way of doing business for wine producers and wine merchants is different from what it was before Covid. Before, you had mega-importers who had a fairly extensive product catalogue and who were responsible for distribution throughout a country. Now, the number of offers has increased considerably and we've realised that the market has fragmented a little and that these large importers don't necessarily have the desire or the vocation to continue to work with a very broad range of brands. It will become the responsibility of wine merchants and producers to go out and meet the players on the Chinese market. Why is it so important for the wine and spirits industry, and especially Vinexposium, to be present in China today? <strong>The</strong> Chinese economy is the second largest in the world, it cannot be ignored. It's a market of 1.3 billion people. Not having a presence in China today will probably slow the development of your business tomorrow. That's why we need to re-establish the link, we need to be present there. For my part, I'm quite excited about this return to Hong Kong, firstly because it's historic, it's an important part of Vinexposium. It's also a market with great opportunities for those who take the trouble and make the effort to understand the market today with the transformation that's taken place <strong>VINEXPO</strong>SIUM: SERVING THE ENTIRE WINE AND SPIRITS INDUSTRY Vinexposium's CEO underlined the importance of Vinexpo Asia as a meeting place for players in the wine and spirits industry today. He alluded to the lack of a major representation of Asian buyers at Wine Paris & Vinexpo Paris as well as other major wine shows in the first half of this year. He said that he felt there had been a "profound change" in the way global business is being conducted: "We are perhaps moving a little more towards continentalisation, meaning that buyers from Asia stay in Asia and the West stays amongst themselves." He cited that this could be linked to the cost of travel, but is also a question of supply and demand, with Asia historically being a demand market that came to Europe to buy products. He believes that this has changed and "is a little bit the other way round" now. In this context, he highlighted the importance for Vinexposium "to have a permanent, long-term presence in Asia, with meetings in Singapore and Hong Kong, because it's the main contact with all the buyers in the Asian zone." He firmly stated that as CEO of Vinexposium and after the success of Paris and Asia, "we're here to serve the entire wine and spirits industry" THE DAILY • TUESDAY 21 MAY <strong>2024</strong> 7
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