Watson's Wine, the leading specialised wine & spirits retailer in Hong Kong, announces its support for the government’s initiative to reduce duty rates on high-end liquor products, in alignment with the economic growth agenda published in the 2024 Policy Address.
Watson’s Wine Leads the Way in Price Reduction after the Government’s Liquor Tax Cuts .
Premium Spirits at New Competitive Prices
Effective immediately, Watson's Wine will roll out price cuts on a large range of carefully curated premium spirits, making world-class spirits more accessible to Hong Kong connoisseurs. Customers can enjoy savings on over 100 premium spirits priced above HK$1,000, regardless of whether the importers have already adjusted their prices (see Appendix). These price cuts apply to popular spirit brands like Cognac Tesseron, Macallan and Martell, with some reductions exceeding 20% and selected item reaching as high as nearly 60%. Through Watson’s Wine's network of trusted suppliers from reputable sources, customers can enjoy exceptional premium spirits at reduced prices.
Exciting Opportunities from New Spirit Store Format
In response to the favourable policy change on liquor, Watson's Wine will launch a dedicated premium spirits concept store format in 2025. This new concept will showcase an expansive array of fine spirits from rare whisky to artisanal Cognac, offering customers an unparalleled shopping venture with emerging categories like Chinese spirits.
Watson’s Wine Leads the Way in Price Reduction after the Government’s Liquor Tax Cuts .
Watson’s Wine has the ambition to grow the market share in spirits category by 25% in the next 3 years,and also leverage the vibrant space to create immersive customer experience for spirit-lovers like expert-led tastings, out-of-the-box culinary pairings, and sommelier masterclasses that will blend Cognac and whisky from the West with Chinese spirits from the East, where diverse traditions and craftsmanship converge.
Jeremy Stockman, Managing Director of Watson's Wine is excited about the change in liquor duty,"Watson’s Wine welcomes the government’s latest policy on spirits and firmly believes that this duty reduction will greatly benefit our customers and the industry at large. Through price reductions and investments in new spirits retail concept, together with the industry Watson’s Wine will help establish Hong Kong as a hub for high-end liquor."