Legacy Brings Old World Italian Wine to the New World Chinese Consumer

Legacy Wine and Spirits International Ltd. (LWSP:

legacy wine & spirits intl l com

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Last: 0.90-0.03-3.23%
3:59pm 11/17/2008
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LWSP 0.90, -0.03, -3.2%) reports that the company has begun the process of importing select brands of Chianti, Syrah, Montepulciano d' Abruzzo, Nero d' Avalo and others from the wine producing regions of Sicily, Venice, Piedmont and other lesser known areas of Italy.

As reported by the wine website www.italianmade.com, Italy's glowing reputation with wine is due not only to the fact that it produces and exports more than any other country but that it offers the greatest variety of grapes, covering the spectrum of color, flavor and style in wine. A vast majority of Italian grapes and varietals can only be grown in Italy and thus fall under the strict regulations of the Italian government's appellation system.

According to the International Wine and Spirit Record, Chinese wine sales could grow by more than 80% by 2011. China, currently the leading wine market in Asia and 10th in global consumption (soon to be ninth), is one of the fastest-growing markets on the planet. Recently American auction house Acker Merrall & Condit held its first auction in Hong Kong in May and sold more than $8 million worth of wine in one day, setting a new record for Asia.