Now that our financing is completed and the Vinfolio Marketplace is launched, we're finally in a position to resume our focus on expanding our existing Hong Kong operation.
Vinfolio Hong Kong ecommerce site launching in November 2009
Our immediate next step in Hong Kong is to convert our Vinfolio Hong Kong web site (www.vinfolio.hk) into an ecommerce site (see image - click it to enlarge). Here's what you can expect:
- Access to virtually all 2,000+ items listed in our online U.S. store plus Hong Kong site exclusives.
- Pricing in HK$ for pick-up/delivery in Hong Kong (within 1-2 weeks in most cases)
- Separate email offers of items from the HK online store(email HKoffers@vinfolio.hk to request to be added)
In short, Vinfolio Hong Kong will essentially become a local wine store to Hong Kong/Macau residents. No overseas shipping need be arranged and no minimum purchase quantity will apply. We will list all available items in a new "Vinfolio Hong Kong" listing on Winesearcher, WinePrices.com, and Global Wine Stocks.
Of course, our U.S. online wine store will continue to be available to Hong Kong customers if they prefer and the Vinfolio Marketplace will continue to be there exclusively. Just keep in mind that those prices are in U.S. dollars for pick-up/delivery in San Francisco so onward shipping costs to Hong Kong are extra (whereas this is already included in HK site pricing). U.S. purchases come with six months free storage in one of our climate-controlled facilities. Initially, we will not ship to other countries from Hong Kong so customers in other Asian countries will need to continue to order from the U.S. site or make their own arrangements from Hong Kong
Hong Kong wine storage facility targeted for 2nd Quarter 2010
We remain committed to opening a world-class wine storage facility in Hong Kong. The tough economy and higher-than-expected capital expenditure requirements caused us to defer our original plans to open a Hong Kong wine storage facility in the Fall of 2008. We've recently decided to pursue an approach in Hong Kong that we followed with our 20,000 sq. ft. Napa Valley facility that we opened in October 2008. In that case, we simply became a tenant of a facility developed for wine-related businesses that required a climate-controlled environment.
The problem, however, is that these ready-to-occupy facilities simply don't exist in Hong Kong (at least, I'm not aware of them). There are "air-conditioned" facilities and cold storage facilities but none designed for a constant 55 degree (F) (or 12-13 degree C) temperature and humidity-controlled environment.
Therefore, we've set out to find a financial/real estate partner (corporate or individual) to finance the development of a world-class, Hong Kong-based, wine storage facility that Vinfolio could lease and operate as a tenant. We're willing to completely manage the design process as we essentially already completed one in 2008 before we put the project on hold. Any interested parties should contact Anthony Mak, Managing Director, in our Hong Kong office at (852) 3748-3833 or anthony@vinfolio.hk and he would be glad to provide a more detailed description of what we're seeking in a partner on this project.
Hong Kong International Wine Fair November 4-6
Vinfolio Hong Kong will have a booth the International Wine Fair next month. Please stop by and meet our Hong Kong team in person. I will also be in Hong Kong from Nov. 3-6 as will our Vice President of Marketing, Jay Moore.
