A Chinese canned low-alcohol wine brand is proving a huge success after just a year in the market.
WiMo, created in 2021, has raised millions in funding recently, Chinese wine industry website Vino-Joy reports.
WiMo “Pu Ke” (WiMo”葡刻”), which means “Wine Moment” in Chinese, is a wine brand targeting the younger generation of wine drinkers in China.
It aims to produce table wines that break through the dull image of wine as perceived by younger drinkers.
The brand's rise attracted attention from Kindergarten Green, an investment firm which is owned by China’s internet search giant Baidu Inc., for its "Series A" financing round.
The exact amount of funding was not disclosed but Chinese media reports said it was “in the millions”.
China had more than 115,000 low-alcohol-related businesses by September 2021, data from business inquiry platform Tianyancha showed.
“There has always been no shortage of strong players in the wine industry, but wine still has new product forms and gameplays that are worth exploring," WiMo’s investor Kindergarten Green said in a statement.
"We saw that the WiMo team is the leader of this field. They are also constantly exploring more possibilities in new product lines and business lines. We believe this team can continue to surprise us.”
WiMo has a marketing strategy directed towards health-conscious first-time wine consumers.
WiMo’s sparkling wines and “Winetails” series, two of its most popular ranges, come with fruity flavours and bubbly texture that are similar to juice and soft drinks, Vino-Joy reports.