Tmall lists Lafite near shop cost. Then the shop has no reason to sell it
Vino Joy News found classified Bordeaux on Tmall Global and JD at, or under, the prices shops need. Lafite 2011, 2021 and 2023 sat at RMB 3,967 — about US$590. Cross-border tax of about 17% versus about 42% in general trade is a big part of the gap.
A classified Bordeaux used to travel through an importer, a shop and a conversation. On Tmall Global and JD, it travels through a search box.
Vino Joy News reported Chinese e-commerce prices that sit on, or under, the numbers a shop needs. Lafite 2011, 2021 and 2023 were listed on Tmall Global at RMB 3,967 — about US$590. Wine-Searcher had those vintages around US$654, US$770 and US$560. One of those Tmall bottles is cheaper than the global ask. The other two sit close enough that a shop’s margin disappears.
Further down the classified ladder the gap is ugly. Château Lagrange at RMB 249 against about US$62 on Wine-Searcher. La Tour Carnet 2022 at RMB 195 against about US$35. On JD, Cantemerle 2023 at RMB 178 against about US$30.
Part of the gap is tax. Cross-border e-commerce can pay about 17%. General trade often pays about 42%. The platform keeps the cheaper pipe. The shop does not.
Wu Xianghua, CEO of Fine West, stopped buying en primeur two years ago. Fang Yi at Changsha’s Puyi said he will not recommend classified growths unless a client asks by name. Wu’s line: platforms benefit, everyone else suffers.
Mini-concept: when everyone sees the lowest price, the shop has no reason to hold the bottle.
A canned mixer has no en primeur book. These classified reds are now a search result.
Remember: 17% cross-border tax vs 42% general trade is why Tmall can sit under the shop.
Source: Vino Joy News