Set to Become a New Growth Driver
To celebrate its 40th anniversary and mark a milestone for the Group, Dynasty Fine Wines Group Limited (Stock Code: 828), a premier winemaker in China, has hosted a press conference unveiling its strategic plan for its brandy business and the launch of 3 new brandy products. The introduction of new products not only enriches the product matrix and culture elements of Dynasty’s brandy, but also enhances its overall brand positioning. The new products are expected to become new growth drivers for Dynasty’s brandy business.
The three new products, namely Dynasty V.S.O.P. Brandy Aged 8 Years, Dynasty V.S.O.P. Brandy Aged 10 Years and Dynasty X.O. 18 Years Old Brandy, are priced at different levels in the market. These products are made with the traditional brandy winemaking technique of France and made from Ugni Blanc harvested in the plantation area in Tianjin. Besides, they are produced by adopting the world’s most famous Charentais Distillation and matured in French Limousin oak brandy barrels. They feature rich aroma, elegant and refined, strong but not dry. The products have been widely recognised by the industry experts.
Dynasty has set 2019 as “a reform year in sales and marketing”, thus implementing a series of new market strategies which encompassed 1) promoting two upgrades, namely product upgrade and brand upgrade, 2) forming the third-tier markets, namely the core market, key market and potential market and 3) taking the four management measures and 4) the marketing campaign that showcasing in 10,000 shops, hosting 1,000 wine tasting events and organizing 100 plant visits. In 2020, Dynasty further pushed forward its business reform and focused on the implementation of “5+4+N product strategy”, among which “5” refers to the five key series of products namely, air dry series, seven-year reserve series, merlot series, classic series and best-selling series, to achieve the goal of full coverage for all mainstream price segments; “4” refers to the four advantageous categories i.e. dry red wines, dry white wines, brandy and sparkling wines, to vertically increase market share; and “N” refers to developing various customised products to meet the diverse needs of Chinese consumers.
To align with its “5+4+N product strategy”, the Group launched a new high-end product, Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Geng Zi Year of the Rat, which integrates the high quality with the Chinese zodiac culture and leads the rise of Chinese-style fashion products during the first half of the year. The Group also launched Dynasty Jiuxiang Rose Liqueur series early this year. Moreover, the second generation of Dynasty Merlot Dry Red Wine series, which is the blockbuster product of the Group, made its debut on the market in May, targeting business banquets. Meanwhile, the Group released Dynasty Seven-Year Reserve Dry Red Wine series, positioning the high-end market with national banquet quality. The current new brandy product strategic plan also plays a key role in the implementation of its “5+4+N product strategy”.
Established in 1980, Dynasty was the second Sino-foreign joint venture in China and the first-of-the-kind in Tianjin, with Tianjin Food Group Co. Ltd. and Remy Cointreau, a grape wine and brandy leader from France, as its major shareholders. In 1982, Dynasty started making brandy with French winemaking techniques. Marrying world renowned techniques and Chinese style, the Group has produced premium products showcasing top technical and quality features. The new products that hit the market this time have fully reflected the Group’s determination to expand in the brandy market.
Dynasty said that the Company believes its brand can attract more consumers with its effective product strategy and a quality and comprehensive product mix. Stepping into the 40th anniversary, it will stay true to its original ideals, taking quality as the top priority in operations, and continuing to produce more premium wines in China, so as to make Dynasty the synonymy of top Chinese wine. Looking ahead, the Company will continue to adjust its product strategy, enhance its sales and marketing reform, carry on the past successes while making new achievements, thus paving the way for building a century-old brand.