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Legacy Wine and Spirits International Ltd. reports that the Company through its Chinese affiliate has signed a long-term lease for a 2,000 sq/ft, two-floor storefront outlet/showroom complete with an integrated upstairs tasting lounge in TEDA (Tianjin Economic Development Area) Tianjin, a second tier city of 10.5 million located less than 30 minutes from Beijing via the new express bullet train.
TEDA hosts a large number of international companies with many white-collar workers and foreigners both living and working in the vicinity. Tianjin port, located just 5 km to the Southeast, is the second largest port in China making container shipments both inexpensive and logistically easy to receive from anywhere in the world.
The Beijing-Tianjin express railway is the country's first self-developed express railway capable of speeds in excess of 300 km/h. Because of this, the Beijing business commuter heading to work or the weekend traveler looking to enjoy Tianjin's renowned fresh seafood can now make the 115 km trip from Beijing to Tianjin in less than 30 minutes.
By 2011, Chinese drinkers are expected to down more than 1.1 billion bottles of wine or 828 million liters of wine a year, double the figure in 2007, according to a study by the International Wine and Spirit Record in London.
Company President Marc Scheive states, "Due to the mandate put forth by the Chinese government in promoting TEDA and the exceptional trans-modal shipping capabilities of the port of Tianjin, management firmly believes that TEDA is a better fit for the Company's flagship showroom/outlet than Beijing itself."
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