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AWA Wine Gains Presence in Hubei Province, China
Date:
2009-09-07 17:57:07
PHOENIX, AZ--(Marketwire - April 20, 2009) - Regal Life Concepts, Inc. (OTCBB: RGLC) is pleased to announce that Guangzhou AWA Wine Co. Ltd ("AWA Wine"), a portfolio investment company of Regal Life, has recently opened a franchised wine club retail location in Jingzhou, Hubei Province, the "Land of Fish and Rice" in China. This new opening exemplifies AWA Wine's dedication and progressive efforts in introducing imported fine wine culture into China.
Its GDP ranked12th in the country, Hubei is an important agricultural base and has recently established one of the newest high-tech industrial production bases in China. In 2007, retail sales in Hubei rose by 18.1% to RMB 402.9 billion and per capita disposable income of urban households reached RMB 11,485. Jingzhou, one of the key prefecture-level cities of Hubei, has been and remains a key transportation hub and commodities distribution center for over 6,000 years.
"As the imported wine market continues to expand, AWA Wine seeks to strengthen its position through brand building efforts that directly touch its customers," said Eric Wildstein, CEO of Regal Life. "We are excited that AWA Wine is expanding upon this opportunity through the opening of new stores in major provinces like Hubei Province."
"Although growth in the imported wine market is escalating each year, the average Chinese consumer is unfamiliar with the different types of wine available. Thus, we believe better consumer education and brand awareness is needed for imported wine to successfully penetrate this market," said Nie Weifeng, President and CEO of AWA Wine. "It is important for AWA Wine to capture this niche market by intensifying its retail network to cover every major province in China. Once we fortify our foothold in Jingzhou, AWA Wine will open additional AWA wine club locations in other major cities located in the Hubei Province."
The AWA Wine network is currently comprised of 18 corporate-owned and franchised locations throughout China that is servicing a strong and growing membership base of over 50,000. The newly established Regal Life-AWA Wine joint venture will lead to the opening of additional corporate-owned AWA Wine locations in China and the development of an improved IT infrastructure to enhance backend administration, sales and logistics support. AWA anticipates that, with the proper funding, it will expand its network to 100 AWA Wine Club locations and one million active AWA Wine Club members by 2013.
China Wine Marketplace
According to China Alcohol Industry Association, wine consumption in China is increasing substantially and is already the largest wine consumer in Asia. The consumption of wine in China is forecasted to increase 70% between 2008 and 2011. In 2011, estimated wine consumption in China will be 1,100,000,000 liters. In addition, the premium wine market in China is growing fast and the highest increase in wine sales is expected in the premium wines category with an estimated growth rate of 157.5% for the period 2005-2010, to reach 50% of total wine consumption.
Further information:
For further information, please call our Investor Communications toll-free line at 1-888-367-3077 or visit our website at www.regallifeconcepts.com.
About Regal Life Concepts, Inc.
Regal Life Concepts, Inc. is a publicly traded company with headquarters in Phoenix, Arizona. Regal Life Concepts, Inc. is strategically positioning itself in the health, wellness and lifestyle arena and is investigating further opportunities in Asia. Regal Life Concepts, Inc. trades on the NASDAQ OTC BB under the ticker symbol: RGLC. The Company is focused on the health, wellness and lifestyle sector with a multi-faceted approach to market penetration. The company has identified two major growth industries -- Wine Distribution Market in China and Health and Wellness Tourism.
About Guangzhou AWA Wine Co., Ltd.
Established in 2005, AWA Wine is a wine importer and distributor in China with a unique and innovative business approach to capitalize on the rapid growth in the number of Chinese imported wine consumers. Its expansion model has allowed the company to scale its business rapidly -- now doing sales all over China throughout several provinces.
On behalf of the Board
Eric Wildstein, President
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Regal Life Concepts, Inc. can identify and successfully negotiate business prospects in Asia, and that the Company can successfully operate such prospects. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risk and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
Its GDP ranked12th in the country, Hubei is an important agricultural base and has recently established one of the newest high-tech industrial production bases in China. In 2007, retail sales in Hubei rose by 18.1% to RMB 402.9 billion and per capita disposable income of urban households reached RMB 11,485. Jingzhou, one of the key prefecture-level cities of Hubei, has been and remains a key transportation hub and commodities distribution center for over 6,000 years.
"As the imported wine market continues to expand, AWA Wine seeks to strengthen its position through brand building efforts that directly touch its customers," said Eric Wildstein, CEO of Regal Life. "We are excited that AWA Wine is expanding upon this opportunity through the opening of new stores in major provinces like Hubei Province."
"Although growth in the imported wine market is escalating each year, the average Chinese consumer is unfamiliar with the different types of wine available. Thus, we believe better consumer education and brand awareness is needed for imported wine to successfully penetrate this market," said Nie Weifeng, President and CEO of AWA Wine. "It is important for AWA Wine to capture this niche market by intensifying its retail network to cover every major province in China. Once we fortify our foothold in Jingzhou, AWA Wine will open additional AWA wine club locations in other major cities located in the Hubei Province."
The AWA Wine network is currently comprised of 18 corporate-owned and franchised locations throughout China that is servicing a strong and growing membership base of over 50,000. The newly established Regal Life-AWA Wine joint venture will lead to the opening of additional corporate-owned AWA Wine locations in China and the development of an improved IT infrastructure to enhance backend administration, sales and logistics support. AWA anticipates that, with the proper funding, it will expand its network to 100 AWA Wine Club locations and one million active AWA Wine Club members by 2013.
China Wine Marketplace
According to China Alcohol Industry Association, wine consumption in China is increasing substantially and is already the largest wine consumer in Asia. The consumption of wine in China is forecasted to increase 70% between 2008 and 2011. In 2011, estimated wine consumption in China will be 1,100,000,000 liters. In addition, the premium wine market in China is growing fast and the highest increase in wine sales is expected in the premium wines category with an estimated growth rate of 157.5% for the period 2005-2010, to reach 50% of total wine consumption.
Further information:
For further information, please call our Investor Communications toll-free line at 1-888-367-3077 or visit our website at www.regallifeconcepts.com.
About Regal Life Concepts, Inc.
Regal Life Concepts, Inc. is a publicly traded company with headquarters in Phoenix, Arizona. Regal Life Concepts, Inc. is strategically positioning itself in the health, wellness and lifestyle arena and is investigating further opportunities in Asia. Regal Life Concepts, Inc. trades on the NASDAQ OTC BB under the ticker symbol: RGLC. The Company is focused on the health, wellness and lifestyle sector with a multi-faceted approach to market penetration. The company has identified two major growth industries -- Wine Distribution Market in China and Health and Wellness Tourism.
About Guangzhou AWA Wine Co., Ltd.
Established in 2005, AWA Wine is a wine importer and distributor in China with a unique and innovative business approach to capitalize on the rapid growth in the number of Chinese imported wine consumers. Its expansion model has allowed the company to scale its business rapidly -- now doing sales all over China throughout several provinces.
On behalf of the Board
Eric Wildstein, President
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Regal Life Concepts, Inc. can identify and successfully negotiate business prospects in Asia, and that the Company can successfully operate such prospects. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risk and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.
