CNN Food Central Asia not bubbling over New Years champagne
HONG KONG CNN The turn of the century still is months away. But people around the world are expecting Year 2000 parties to be the biggest in decades, so theyre already stocking up on party favorites like champagne.
Overall, I see fairly little millennium champagne purchasing, said Clive McLaughlin, with Watsons Wine Cellar. I think it will really kick in once autumn starts.
But theres no guarantee the party spirit will pick up in Asia.
Its just a normal day. Its nothing special, said one Asian woman.
Overall, I see fairly little millennium champagne purchasing, said Clive McLaughlin, with Watsons Wine Cellar. I think it will really kick in once autumn starts.
But theres no guarantee the party spirit will pick up in Asia.
Its just a normal day. Its nothing special, said one Asian woman.
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- IMF Asia Economic OutlookAvailable April 28th at 2pm (HKT) Watch LIVE Webcast www.imf.org
According to the French champagne board, Asia accounted for only 4.6 percent of the global export market in 1998. That compared to 19.5 percent in the United States and 72 percent for Europe.
And even if they do eventually get in the spirit of celebrating the new year, few Asians are likely to pay the 3,600 that Veuve Clicquot wants for one limited edition bubbly.
The champagne house knows this.
I think the impact of the millennium will be less such a bang in Asia as compared with Europe, said Vita WongKwok with Veuve Clicquot Ponsardin.
The company has allocated only 10 of the limited edition bottles for the entire Southeast Asian market. Hundreds are being released worldwide.
One reason champagne is not more popular in Asia the color.
Red wine, of course, is the most favorite drink in the East because the red color is the fortunate color, said Thomas Lam with Classico Consultancy.
Mix the color scheme with Asias general apathy about the new year, and the party seems likely to fall pretty flat.
And even if they do eventually get in the spirit of celebrating the new year, few Asians are likely to pay the 3,600 that Veuve Clicquot wants for one limited edition bubbly.
The champagne house knows this.
I think the impact of the millennium will be less such a bang in Asia as compared with Europe, said Vita WongKwok with Veuve Clicquot Ponsardin.
The company has allocated only 10 of the limited edition bottles for the entire Southeast Asian market. Hundreds are being released worldwide.
One reason champagne is not more popular in Asia the color.
Red wine, of course, is the most favorite drink in the East because the red color is the fortunate color, said Thomas Lam with Classico Consultancy.
Mix the color scheme with Asias general apathy about the new year, and the party seems likely to fall pretty flat.
- IMF Asia Economic OutlookAvailable April 28th at 2pm (HKT) Watch LIVE Webcast www.imf.org
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