Leading online wine retailer will launch retail and storage operations
San Francisco - Vinfolio, a San Francisco-based online wine retailer and collector services company announced plans to initiate operations in Hong Kong by Fall 2008.
With an inventory of over 2,900 fine wines in its online store, Vinfolio is already serving a growing number of important clients in Hong Kong and the broader Asian region.
That number is expected to grow exponentially following Hong Kong's February 28th announcement that it is lowering its wine duty to zero.
"The global nature of the fine wine business requires a business presence in major economic regions," says Stephen Bachmann, Vinfolio CEO and Founder.
After returning from a recent trip to Hong Kong and Shanghai, Bachmann concluded that "the elimination of Hong Kong's wine import duty combined with its favorable business environment makes this the perfect time and location to establish regional operations".
Vinfolio plans to open a sales office and a climate-controlled, wine storage warehouse to service individual collectors and the wine trade.
"Many signs point to HK becoming a global fine wine hub for the region," says Jean-Michel Valette, Master of Wine and Vinfolio Chairman.
"Vinfolio plans to play a leadership role in that evolution."
To support sales, Vinfolio will hold part of its retail inventory in Hong Kong and create a new version of its website.
Additionally, VinCellar, Vinfolio's free online cellar management software will add multi-currency capability later this year.
Vinfolio's other collector services, including inventorying and personal cellar management, will be added based on demand.
About Vinfolio Founded in 2003, Vinfolio (www.vinfolio.com) has seen rapid growth, with 2007 revenues tripling over 2006 and expected to more than double in 2008.
With a guiding principle of "fine wine, finer service" and an inventory of over 2,900 wines in its online wine store, Vinfolio caters to the fine wine buyer and collector.
In addition to its online wine store, Vinfolio offers Collector Services, including full-service storage, inventorying and personal cellar management, all of which are seamlessly integrated with VinCellar, Vinfolio's free online cellar management software.
With a staff of 60, Vinfolio is based in San Francisco where it operates a 17,000 square foot wine storage warehouse and is scheduled to open a second 25,000 square foot facility in September.
VinfolioRachel Blatt, 415-946-1300
San Francisco - Vinfolio, a San Francisco-based online wine retailer and collector services company announced plans to initiate operations in Hong Kong by Fall 2008.
With an inventory of over 2,900 fine wines in its online store, Vinfolio is already serving a growing number of important clients in Hong Kong and the broader Asian region.
That number is expected to grow exponentially following Hong Kong's February 28th announcement that it is lowering its wine duty to zero.
"The global nature of the fine wine business requires a business presence in major economic regions," says Stephen Bachmann, Vinfolio CEO and Founder.
After returning from a recent trip to Hong Kong and Shanghai, Bachmann concluded that "the elimination of Hong Kong's wine import duty combined with its favorable business environment makes this the perfect time and location to establish regional operations".
Vinfolio plans to open a sales office and a climate-controlled, wine storage warehouse to service individual collectors and the wine trade.
"Many signs point to HK becoming a global fine wine hub for the region," says Jean-Michel Valette, Master of Wine and Vinfolio Chairman.
"Vinfolio plans to play a leadership role in that evolution."
To support sales, Vinfolio will hold part of its retail inventory in Hong Kong and create a new version of its website.
Additionally, VinCellar, Vinfolio's free online cellar management software will add multi-currency capability later this year.
Vinfolio's other collector services, including inventorying and personal cellar management, will be added based on demand.
About Vinfolio Founded in 2003, Vinfolio (www.vinfolio.com) has seen rapid growth, with 2007 revenues tripling over 2006 and expected to more than double in 2008.
With a guiding principle of "fine wine, finer service" and an inventory of over 2,900 wines in its online wine store, Vinfolio caters to the fine wine buyer and collector.
In addition to its online wine store, Vinfolio offers Collector Services, including full-service storage, inventorying and personal cellar management, all of which are seamlessly integrated with VinCellar, Vinfolio's free online cellar management software.
With a staff of 60, Vinfolio is based in San Francisco where it operates a 17,000 square foot wine storage warehouse and is scheduled to open a second 25,000 square foot facility in September.
VinfolioRachel Blatt, 415-946-1300
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