When Costco opened its first store in China in 2019, it wasn't just the hot barbecue chickens and discounted Birkin bagsattracted overexcited crowds. A fiery, throat-tingling liquor called Kweichow Moutai also flew off shelves.
1, 498 yuan, or $209 for a half-liter bottle, it might not sound like the kind of bargain Costco shoppers usually go for—but in this case, it absolutely was. That price(represent) a sharp discount over Moutai sold elsewhere—that is, if you could get your hands on it. The luxury spirit is so beloved in China, it sold out quickly.
Even amid a global pandemic, Kweichow Moutai, the company that makes the liquor, had outstanding year: its stock surged around 70% on the Shanghai Stock Exchange in 2020. The company is China's most valuable firm outside of technology-worth more than the country's four biggest banks. (globe). its market cap has not only beaten all other alcohol distillers, but also Coca-Cola, which had long held the crown as the world's largest beverage maker by market cap. (value) at 2. 7 trillion yuan, or S421 billion, Kweichow Moutai is worth more than Toyota, Nike and Disney, too.
Apart from popularity in China, , Moutai is still virtually unknown overseas. Almost all-about 97%-of its sales come from China alone, according to its (finance) reports.
So how is a companysells its products primarily in just one country now worth more than some longstanding behemoths? And can Kweichow Moutai, which (describe) in the west as "drinking liquid razor blades," succeed in appealing to non-Chinese consumers?
