TIANJIN, CHINA--(Marketwire - October 26, 2009) - Legacy Wine and Spirits International Inc.
(OTCBB: LWSP) reports that the Company is in negotiations with three (3)
existing wine and spirit stores in China. These stores are located in and
around the Company's flagship store in TEDA (Tianjin Economic Development
Area).
The location of these stores were strategically chosen for logistic reasons
since this will enable the current Legacy staff to move between each store
implementing the protocol and standards that Legacy Stores will be known
for in China. A Legacy Wine and Spirits store should signify a reliable
place for locals or foreigners to purchase their alcohol of choice whether
it be for gift giving or personal consumption.
With limited capital investment necessary and the Company's stock as a
negotiable tool, Legacy's management feels that it will be advantageous to
integrate these existing operating entities into a chain of Legacy retail
outlets thus solidifying the Company's corporate branding. This move will
greatly expedite the Company's ability to distribute its inventory and
increase its brand awareness in China.
The proposed acquisition will enable Legacy to have the economy of scale
working in their favor in terms of sales multiples and purchasing
capabilities with wine and spirit suppliers and vendors.
According to the International Wine and Spirit Record, Chinese wine sales
could grow by more than 80% by 2011. China, currently the leading wine
market in Asia and 10th in global consumption (soon to be ninth), is one of
the fastest-growing markets on the planet.
"The capacity to market wine to 1.3 billion people in China is especially
appealing to wine producers with great potential for profit," states
Company president Christopher Scheive.
ABOUT LEGACY WINE AND SPIRITS INTERNATIONAL LTD.
Legacy Wine and Spirits International Ltd. is in the business of importing
bottled wines from around the world for the purpose of wholesale and retail
distribution throughout China, in particular through the Company's
corporately owned stylish outlet showroom and wine tasting facilities.
/s/ Christopher Scheive
Christopher Scheive, President
For further information contact: 1-888-488-6882
Visit our website: www.legacywineandspirits.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical fact are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
in testing and evaluation of products and other risks detailed from time to
time in Legacy's filings with the Securities & Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Legacy Wine and Spirits International Ltd.
Corporate Office
702 Kentucky Street, Suite 541
Bellingham, WA 98225
Tel: 1-888-488-6882
Fax: 1-888-265-0498
Administration Office
719 30th Ave., Pointe-Calumet
Quebec, J0N 1G1