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NEW YORK, Mar 4, 2011 (GlobeNewswire via COMTEX) -- Legacy Wine & Spirits International Ltd. (Pink Sheets:LWSP), an importer, wholesaler and retailer of fine wines in China, has made arrangements to utilize its established wine sales infrastructure to launch its wine accessories business division. www.legacywineandspirits.com The wine accessories to be sold will help consumers and wine lovers to enhance their enjoyment of wine. The Company will carry wine related items that are used to open, drink, store and decorate wine. Quality, fancy and creative corkscrews, glasses, carafes, bottle stoppers, gift bags for wine, wine racks and special storage refrigerators will be part of the inventory of wine related goods Legacy will be selling on a wholesale and retail basis.
Although there are specialty shops in North America catering to this market, Legacy feels that as the masses in China continue to develop an appreciation of wine, they will also be motivated by their egos, pursuit of pleasure, pride, culture and image to purchase these wine accessories.
China is expected to be the world's seventh largest wine consumer by 2013 as the nation's thirst for vintages continues to grow amid an economic boom. The country will consume around 1.26 billion bottles of wine in 2013, an increase of about 32 percent from 2009, according to findings of Vinexpo, organizer of one of the world's largest wine and spirits exhibitions.
Jaclyn Cruz, President of Legacy states: "With Asia's wine consumption forecast to rise by 20% over the next three years, according to the International Wine and Spirit Research (IWSR) commissioned by Vinexpo, and China leading the growth, Legacy believes the market for wine accessories is ripe for the picking."
About Legacy Wine and Spirits International Ltd:
Legacy Wine and Spirits International Ltd. (Legacy) is a publicly listed fully reporting company trading in the United States (Pink Sheets:LWSP). The Company is in the business of importing bottled wines from around the world for the purpose of wholesale and retail distribution throughout China, in particular through the Company's corporately owned stylish outlet showroom and wine tasting facility.
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