Kweichow Moutai’s baijiu-infused ice cream is reselling in China for more than four times its original price amid tight supplies of the hit product.
One online platform has Moutai Ice Cream listed for CNY258 (USD38.30) per 75-gram cup, with CNY200 of that a fee, according to an employee of the site. The ice cream, which contains about 2 percent Moutai spirit, should retail for CNY60 (USD8.90) apiece, according to publicly available information.
The product has been a rip-roaring success for Kweichow Moutai, which is looking for new growth points. The upscale baijiu distiller wants to reach younger consumers with a product they like, a retail industry insider said. More than 27,000 sold for over CNY1.7 million (USD252,555) on June 29, per the distiller’s statistics.
But limited supply has created a sellers’ market. Online agents began stocking up on the novel dairy item soon after it was launched in late May. Co-created with leading dairy producer Mengniu Dairy, Zunyi-based Kweichow Moutai has limited its release to just seven Chinese provinces.
Market prices vary widely. One reseller pitches each cup at CNY187, more than three times the retail price, while another is offering three for CNY300, a 70 percent markup.