WineNice Enters Wine Investment Market

TechWeb, 12/10/12

Beijing-based wine and spirits B2C e-commerce firm Jiumei E-Commerce (WineNice.com) has announced it will enter the wine investment market, initially offering 375 cases of "Hongcheng Wanli" collectible wine sets with a total value exceeding RMB 25 mln.

Jiumei will sell the collector wine sets, each consisting of six bottles from high-end wineries, on Jinmajia.com, a luxury commodities trading platform operated by State-owned Assets Supervision and Administration Commission's (SASAC) China Beijing Equity Exchange (CBEX). Buyers can choose to either accept delivery of the wine or float the investment on the exchange.

According to industry rumor, the Rothschild family participated in Jiumei's recently completed second round of funding, but Jiumei CEO Lv Yide dismissed the rumors in a recent press conference.

Editor's Note: For more background on this topic, please see "Rumor: WineNice Completes Second-Round Funding" MD 12/05/12 issue.

Keywords: e-commerce Internet B2C China Beijing Equity Exchange SASAC Jinmajia luxury WineNice Lv Yide alcohol

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