SPIRITED AWAY: Bernard Arnault keeps on making surprising inroads into luxury-hungry — and thirsty — China. On Wednesday, LVMH Moët Hennessy Louis Vuitton said its wines and spirits division signed a joint-venture deal with VATS Group to build a winery in Southwestern China’s Yunnan Province. The vineyard of about 30 hectares at approximately 7,875 feet above sea level will be called Moët Hennessy Shangri-La (Deqin) Winery Co. Ltd.
“Thanks to the creation of this winery joint venture, we will be able to offer Chinese consumers a premium-quality red wine within four to five years,” stated Christophe Navarre, Moët Hennessy’s chief executive officer. “The partnership with VATS is a new step in our long-term commitment to China.” One year ago, LVMH made an investment to create a premium sparkling wine in Ningxia, and five years ago Moët Hennessy acquired Wenjun, the white spirits maker based in Sichuan Province.