ChÃ¢teau Bernadotte: A new addition to King Power (Hong Kong)’s growing brand portfolio
FRANCE/HONG KONG. King Power Group (Hong Kong), led by Antares Cheng, has acquired Bordeaux winery ChÃ¢teau Bernadotte from Champagne Louis Roederer.
Antares Cheng: Continues to diversify his business into new markets and channels
La Bernadotte has 100 acres of vineyards in Haut Medoc, and has a capacity to produce about 30,000 cases a year.
On the acquisition of ChÃ¢teau Bernadotte, Antares Cheng said: “This is part of the Group’s strategy to expand our business, and acquire well known and quality brands, to cater to the ever expanding and discerning Chinese market.”
The Roederer Champagne Group is streamlining its Bordeaux portfolio (it sold ChÃ¢teau Reaut last year), while King Power is aggressively expanding its businesses and its portfolios beyond the traditional duty free sector.
Besides its travel retail and duty free business (managed by Sunil Tuli, who is also President of APTRA), King Power has other varied interests, which range from F&B, Leisure (it owns the golf course at Hong Kong International Airport), manufacturing, retail and distribution, real estate and investments, and also owns several other brands.
It acquired French jewellery brand Agatha France, some years ago, as well as the controlling interest in Patrick Cox, UK.
King Power Group (Hong Kong) was founded by Antares Cheng in the 1970s, originally as a duty free company, before diversifying into other sectors.
Within duty free, the company has maintained a solid expansion path in recent years, and is one of Asia’s leading travel retailers. It operates a number of airport duty free and duty paid businesses in Mainland China, Macau, Hong Kong, Japan and Singapore as well as a thriving inflight duty free division. It also has strong and diverse domestic market operations across several sectors in China.
Most recently it has been expanding its Singapore Changi base, a location where it has operated for 20 years. This year it has won concessions and opened units for LeSportsac, Kipling and Harrods.
Le Sportsac and Kipling (above) are among the latest branded concessions the company has opened at Singapore Changi Airport