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Moutai becomes world's most-valuable liquor maker
Moutai, best known for brewing the fiery grain-based drink baijiu, has now become the world's most-valuable liquor distiller, overtaking Johnnie Walker's owner Diageo Plc
Beijing: All you alcohol lovers! Here's a good news for you guys as a Chinese liquor brand, Kweichow Moutai, best known for brewing the fiery grain-based drink baijiu, has now become the world's most-valuable liquor distiller, overtaking Johnnie Walker's owner Diageo Plc.
Moutai's market value has reached $71.5 billion in Shanghai, after the shares of premium grain liquor -- including 106-proof baijiu -- surged 55 percent over the past year, more than twice the gain for London-based Diageo.
Meanwhile, Whisky's value share of the global spirits market has shrank from 37 to 28 percent, reports the Bloomberg.com.
A third of Diageo's revenue was from North America and a quarter from Europe in the fiscal year to June, while 95 percent of Moutai's sales were in the domestic market. (ANI)