Retired NBA star Yao Ming has launched a wine brand called Yao Family Wines, which will be sold exclusively in the Chinese market. The 31-year-old, 7-foot-6-inch Chinese basketball star, who now lives in his native homeland of Shanghai, is a trailblazer on the Chinese wine scene, says the WSJ.
Ming has established his own winery in California to produce the Yao Family Wines. Cabernet sauvignon grapes harvested in 2009 from Napa Valley are used to make the wine, which will be distributed by Pernod Ricard SA and priced at $289 USD per bottle. The first 5,000 cases of the Yao Family Wine will simply be called 'Yao Ming,' although plans are in the works to release a second wine, called Yao Family Reserve, later this year. Apparently, there will only be 500 cases of this particular wine produced, meaning it will be even more expensive.
Ball Player Cabernet
NBA Star Yao Ming Launches Yao Family Wines for Chinese Market
Trend Themes
1. Chinese Wine Market - There is a growing trend in the Chinese market for high-end wines, creating opportunities for brands like Yao Family Wines to cater to the increasing demand.
2. Celebrity Wine Brands - The popularity of celebrity-owned wine brands, such as Yao Family Wines, is a trend that allows famous individuals to enter the wine industry and leverage their personal brand to attract consumers.
3. Luxury Wine Pricing - The trend of pricing luxury wines at premium rates, such as Yao Family Wines being sold at $289 USD per bottle, presents opportunities for premium wine producers to cater to affluent customers.
Industry Implications
1. Wine Production - The wine production industry can capitalize on the growing Chinese market and the rise of celebrity wine brands by developing high-quality wines with unique branding to cater to the demand.
2. Importing and Distribution - Importing and distribution companies, like Pernod Ricard SA, have the opportunity to partner with celebrity-owned wine brands, such as Yao Family Wines, to expand their product offerings and reach a wider consumer base.
3. Luxury Goods - The luxury goods industry, specifically within the wine sector, can benefit from pricing wines at premium rates and catering to affluent customers who seek exclusive and high-end products like Yao Family Wines.