BEIJING/SHANGHAI (Reuters) – As luxury spending rebounds in China, consumers with money to burn have a new habit beyond fancy bags and watches: a taste for collector editions of fiery domestic liquor Moutai, not to drink but to hold onto as a rapidly appreciating investment.
Amid China’s recovery from the coronavirus pandemic, Moutai buyers like Beijing tech worker Yang Nan have seen re-sale prices for vintage and limited editions of the ‘baijiu’ spirit made by Kweichow Moutai rocket as demand booms. And they want in on the action, before it’s too late.
“I feel more people are getting into the market of Moutai collection and making it more difficult for people like me to afford it,” Yang told Reuters. The 30-year-old hails from the southwestern province of Guizhou, home of Moutai, and was raised to know the drink’s value: her parents sold 12 bottles to raise 250,000 yuan ($38,000) for a downpayment for her apartment in the capital. Reuters News