Moutai halts luxury ranking talks
- By Yang Xi
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China.org.cn, November 30, 2011
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The costliest item at?an auction?is a bottle of Five Star Maotai, bottled in 1955, that is listed for 1.26 million yuan. [Photo/Xinhua] |
Moutai Group has halted talks with the World Luxury Association (WLA) to be included in its luxury items list, WLA said Tuesday, Beijing Times reported.
A WLA chief representative in China confirmed earlier that it is in talks with the Moutai Group on its application. He said the WLA will publish a report on the world's top 100 luxury brands.
The price of Moutai will exceed 5,000 yuan within three years, a manager of a Chinese liquor store belonging to the Kweichow Moutai Group Co Ltd said recently, adding Moutai Group will apply to become a luxury brand recognized by international award agencies.
However, Ji Keliang, former chairman of the group, declared in April that Moutai would not become a luxury brand.
Brewed in a small town in Guizhou Province, Moutai for decades has been considered China's top liquor brand and a status symbol.
China's business press carried the story above on Wednesday.
