(Ecns.cn)—The product sold for 300,000 yuan (US$47,484) by the Wuliangye Group , China's second biggest maker of white liquor, is not over packaged, insists chairman Liu Zhongguo, as quoted by the China Economic Times, Monday.
The package, which has a solid gold base and lid, has been criticized by customers and some industrial experts as too lavish, making it impossible for people to afford.
"A product wrapped in gold can already be seen as over packaged," said Liu Junhai, a senior official with China Law Society. Although the price of the liquor itself is normally determined by the market, Wuliangye's strategy of attaching gold to its product has twisted the value, added Liu.
This product called "treasure of Wuliangye" won a gold prize at the 20th International Business Exhibition in Panama in 2002, and in 2005, Wuliangye started to sell this type on the Chinese market with a price tag of over 80,000 yuan (US$12,662), but now 300,000 yuan.
Though recently many white liquor makers like Moutai have jacked up their prices by increasing brand awareness on the International market, Wuliangye's over-the-top casing is not appropriate, commented an industry expert.
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