Name: 你有喝過嗎？中國「茅台酒」是如何成為全球最有價值的白酒品牌，跟著 WSJ 一起挖掘！ (How China’s ‘Firewater’ Became the World’s Most Valuable Liquor Brand | WSJ The Economics Of)
Uploaded: 2024-05-24T03:16:07.000Z
Duration: 8 min 9 s

It's 53% alcohol, tastes like fire water,

酒精含量為 53%，喝起來像火水、

and a bottle can cost tens of thousands of dollars.

- Moutai is the national liquor of China,

- [Narrator] As Moutai's popularity grows,

In June 2020, its surpassed China's biggest bank,

2020 年 6 月，它超過了中國最大的銀行、

climbing to reach a valuation of over $500 billion in 2021.

攀升，到 2021 年估值將超過 5000 億美元。

Today, Moutai is the world's largest beverage company

如今，茅臺已成為全球最大的飲料公司

That's more than double the market cap of the company

and more than 10 times the parent company of Jack Daniel's.

是傑克丹尼爾母公司的 10 倍多。

particularly among Chinese youths unwilling to splurge

and international consumers who know little about Moutai.

以及對茅臺知之甚少的國際消費者。

So, what's next for China's premier liquor brand?

那麼，中國首屈一指的白酒品牌下一步將如何發展？

Before we get into the details, how do people drink Moutai?

在瞭解細節之前，我們先來看看人們是如何飲用茅臺酒的？

is because it is much stronger than your usual spirits,

因為它比你平時喝的烈酒更烈、

and also because it's in such a small glass,

還因為它裝在這麼小的杯子裡、

- [Narrator] Moutai is rooted deep in Chinese history,

- 茅臺在中國歷史上根深蒂固、

earning a reputation as the drink of diplomacy.

During the Chinese Civil War in the 1930s,

made a stop at a village in Guizhou province,

and reportedly used the liquor to wash their blistered feet

據報道，他們用酒洗腳，洗出了水泡

這個故事有助於鞏固茅臺的地位

as the drink of choice among the Communist Party leadership,

作為共產黨領導層的首選飲品、

用茅臺酒向尼克松總統敬酒的人

during his historic visit to China in 1972.

在 1972 年對中國進行歷史性訪問期間。

Two years later, Secretary of State Henry Kissinger

met Zhou and said, "If we drink enough Moutai,

周恩來見了，說："如果我們喝夠了茅臺酒、

that it's been in so many historical moments,

so the brand awareness of Moutai is like topnotch,

是以，茅臺的品牌知名度堪稱一流、

which also explains why it's a status symbol.

這也解釋了為什麼它是一種身份的象徵。

My friends would bring Moutai to weddings.

我的朋友會帶著茅臺參加婚禮。

Sotheby's hosted its first Moutai-themed auction.

蘇富比舉辦了首次茅臺主題拍賣會。

- It has become a more prominent category

- 它已成為一個更加突出的類別

我想，這並不是一件容易的事。

- [Narrator] Paul Wong has been an auctioneer at Sotheby's

- 旁白] 王保羅曾是蘇富比拍賣行的拍賣師

- So, 80% of our consumers they buy and drink

- 是以，我們 80% 的消費者都會購買和飲用

It's a safe buy even if you don't drink it now

即使你現在不喝，也可以放心購買

- [Narrator] Moutai is not only a safe choice

- 旁白] 茅臺不僅是一個安全的選擇

不僅對收藏者如此，對投資者也是如此。

- Moutai is basically the anchor of value investing,

- 茅臺基本上是價值投資的錨、

meaning that any fluctuations in Moutai share price

could affect the entire Chinese equity market.

可能會影響整個中國股票市場。

It's sort of not in the official's interest

or in the investor's interest, to be honest,

to let Moutai share price fluctuate that much.

- [Narrator] Moutai shares have declined since early 2021,

- 旁白] 自 2021 年初以來，茅臺股票一直在下跌、

amid Chinese President Xi Jinping's anti-corruption drive

在中國國家主席習近平的反腐行動中

shown here by the country's benchmark index.

這裡顯示的是該國的基準指數。

- What makes Moutai shares in general stable

so that kind of speaks to how stable the company is.

and constrained supply is how Moutai keeps its prices high.

供應受限是茅臺保持高價的原因。

The cheapest bottle on the market costs about $350,

市場上最便宜的一瓶售價約 350 美元、

but vintage ones like this 80-year-old bottle

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你有喝過嗎？中國「茅台酒」是如何成為全球最有價值的白酒品牌，跟著 WSJ 一起挖掘！ (How China’s ‘Firewater’ Became the World’s Most Valuable Liquor Brand | WSJ The Economics Of)

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