One of China's biggest online wine retailers, Jiuxian.com, has said it raised funds with partners to buy a Bordeaux château worth up to 10 million euros.
China’s Jiuxian.com has said that it plans to invest ‘a maximum of 83 million RMB [10 million euros]’ with a consortium of partners in order to buy a Bordeaux winery, reports DecanterChina.com.
Its statement follows a flurry of activity for Chinese investors in Bordeaux this year, led by Alibaba billionaire Jack Ma’s purchase of Château de Sours.
Jiuxian.com hasn’t named a target or said where it is looking, but it said that it plans to directly import wines from the producer.
The winery purchase is planned to be conducted through Jiuxian.com’s soon-to-be-established branch company in Hong Kong.
The purchase is expected to be a joint venture of multiple investors. Jiuxian.com plans to invest a maximum of 10 million RMB of its own money.
Read the full story on DecanterChina.com
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