MINTcellars.com launched in Shanghai
Updated: 2012-02-09 17:35
By Chen Qide (China Daily Shanghai Bureau) (chinadaily.com.cn)
SHANGHAI -- MINT Global Holdings launched its MINTcellars.com in the city on Wednesday, establishing an e-platform for its long-term growth in the Chinese market.
The website in English and Chinese languages targeting at its business expansion in China is MINT's second business in the country, following the multi-award-winning launch of its Members and Shareholders Club in Shanghai in 2008, said MINT Global Holdings Executive Chairman Paul Robinson.
MINT Global Holdings Executive Chairman Paul Robinson answers questions at the press conference on the launch of MINTcellars.com. [Photo provided to chinadaily.com.cn]
"It is the result of four years of our invaluable experience in China as well as the effort MINT has made to get the strategy right for its business in China,'" said Robinson.
MINT Shanghai affiliated with MINT Global Holdings, which boasts a restaurant, a cocktail bar, a nightclub and an open-air roof terrace, saw a 30 per cent increase on its 2010 performance with gross revenue reaching $16 million. Its earnings from its combined on-shore and offshore activities amounted to $4 million, he said.
"I believe our newly-launched website will be successful to contribute much to our business expansion in the world's biggest consumer market,'" he said.
Robinson said MINTcellars.com will take the phenomenal off-line success of the MINT brand on-line and leverage its supply chain to put together the finest collection of champagne, wines, whiskey and spirits available in China.
Robinson said nearly all the on-line products of more than 700 varieties at the moment will be imported from such countries as the United States, Germany, France, Spain, Australia and countries in South America.
"Our targeted customers are foreigners and Chinese living in China and our purpose is to turn MINTcellars.com into the dominant player in China's retail alcohol market,'' he said.
MINT Shanghai has delivered an average 32 per cent dividend per annum over the past four years to its 620 shareholders and confidently predicts the addition of MINTcellars.com could see MINT's group valuation increase from current $50 million to more than $250 million by 2015, said Robinson, adding that the website is expected to contribute half to the valuation.