Vinfolio’s Hong Kong Launch Coming in Decemeber

Vinfolio’s Hong Kong operation now getting into full swing.

We sat down with Vinfolio Hong Kong Managing Director Anthony Mak last week to talk about Vinfolio’s Hong Kong plans. After the recent announcement of the company’s series A US$4.5 million investment and their expansion into the Hong Kong market, we thought Hong Kong wine enthusiasts would like to know there will be a new major player entering the market in the next couple of months.

Mr. Mak is in heavy preparations for the Hong Kong launch of Vinfolio.hk – the website will be in English and Chinese. The company has held off on launching their online wine shop until now because of the recent economic downturn. Vinfolio Hong Kong will also launch a new Hong Kong wine storage operation and online wine auction component early next year.

Their auction service launched in July in the US, and has many Hong Kong users, and is different to the eBay model where its seller-to-buyer with no intermediary. Vinfolio’s auction service has them in the middle brokering the deal for wines ranging from small quantities of wine in the US$50/bottle price and higher.

UPDATE 10/06:

Vinfolio CEO Steve Bachmann just posted new information on their Hong Kong plans on the Vinfolio site:

In short, Vinfolio Hong Kong will essentially become a local wine store to Hong Kong/Macau residents. No overseas shipping need be arranged and no minimum purchase quantity will apply. We will list all available items in a new “Vinfolio Hong Kong” listing on Winesearcher, WinePrices.com, and Global Wine Stocks.

Of course, our U.S. online wine store will continue to be available to Hong Kong customers if they prefer and the Vinfolio Marketplace will continue to be there exclusively. Just keep in mind that those prices are in U.S. dollars for pick-up/delivery in San Francisco so onward shipping costs to Hong Kong are extra (whereas this is already included in HK site pricing). U.S. purchases come with six months free storage in one of our climate-controlled facilities. Initially, we will not ship to other countries from Hong Kong so customers in other Asian countries will need to continue to order from the U.S. site or make their own arrangements from Hong Kong

You can read the rest here.

Hong Kong’s 5-Floor Wine Vault

Hubert Li grows larger wine storage facilities in Hong Kong.

Hubert Li opened the Hong Kong Wine Vault nearly two years ago where he was able to turn his love of wines into a profitable profession: a 5-floor, 30,000 square feet wine-storage facility. “We originally started the business for our own use,” Mr Li beams. “But we have expanded because demand for such facilities has been so great. My partners had quite a lot of wine stored abroad, but the removal of the wine tax meant they wanted to bring it all here, so they could see it and sample it when they wanted.’’ The storage facility is in Wong Chuk Hang, just outside the Aberdeen Tunnel currently has only 3/5 floors in use while maintaining it’s current 40 clients. The entire facility has 150 cellars and a storage capacity of 150,000 bottles.

Li says that this is all due to removing the wine duty. Li says that they never would have entered the business without this but is delighted at how things have been turning out.

“Our customers are highly knowledgeable …and people …now can have their collections close to them. The industry here is booming;”

Gregory De’eb, General Manager of Crown Wine Cellars, Hong Kong’s first wine storage facility agrees with this notion.

“A lot of the wines flowing into Hong Kong are not for consumption. And strange as that may sound, that is a good thing. They are coming in for wine storage, for wine cellaring, and that has meant a much greater need for an expansion of the industry. The wine has to be kept somewhere, and you have to then support that industry…”

Click here to read the full story at hktdc.com

Interview with Kevin She: Storing Your Wine with SC Storage Hong Kong

SC Storage’s CEO tells us more about their solution to HK wine storage.

With so many Hong Kongers collection wine in Hong Kong, we at Winebuzz have been looking at the different options available in Hong Kong: starting with SC Storage. SC Storage is the biggest self storage provider in Hong Kong with over 6,000 mini storage rooms, in 22 different locations with delivery time to you in 12-24 hours. And now they turn their attention to storing wine.

With all the temperature and environment controlled technology in place, you can store anything from 5 cases to 50 cases of wine at their wine-specific location in Wong Chuk Hang. We recently had a chat with Mr. Kevin She, the Chief Executive Officer of SC Storage about the operation and his view at the future of wine in Hong Kong:

How did you get into the wine storage business?
I started the wine storage business because our main business Self Storage is not growing as fast as before. However, we’ve noticed many wine shops and distributors popping up everywhere near our storage areas, and after noticing that the tax was removed (in Hong Kong from wine), we believe that the wine storage will be a natural extension and next phase of growth for us.

Have you seen a growth in your business since the tax removal last year?
Yes, we currently only have 1 site with wine storage of 5,000 sq ft, and that place is 90% full. We are re-modeling our storage site in Tsuen Wan into wine storage next month. So yes the wine storage growth is almost 25% faster then our storage growth. We only started this business November last year, so I assume the tax removal is related.

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