PARIS May 12 Chinese consumers who have
developed a taste for champagne may soon get a locally produced
alternative thanks to a joint venture by leading French producer
Moet Hennessy (LVMH.PA) with a Chinese agricultural company.
Moet, 66 percent owned by luxury goods group LVMH, plans to
grow grapes for a "high-end sparkling wine" in Northwest China
together with farm operator Ningxia Nongken, the company said.
Moet, which owns Moet & Chandon, the world's biggest
champagne maker, said it will produce the bubbly at a winery it
plans to build nearby the 66-hectare farm.
Other sparkling wine producers like Spain's Freixenet have
already seen strong demand in China, which is also a major
market for Moet Hennessy's other signature product, Cognac.
(Reporting by Christian Plumb; Editing by Erica Billingham)