Chinese luxury liquor maker Kweichow Moutai will open a new e-commer...
) will open a new e-commerce company next year after abruptly shutting its old one, as it pursues a revamp following the arrest of its former chairman, local media reported on Friday.
In May, the company’s former chairman Yuan Renguo was dismissed from his posts and expelled from the ruling Communist Party after being accused by the party’s graft buster of offences including taking bribes. Reuters has not been able to contact Yuan to comment on the allegations.Moutai’s current chairman, Li Baofang, has launched a package of reforms with a focus on standardizing its extensive network of distributors at a time when demand for the company’s liquor exceeds supply.
In a meeting with distributors on Friday, Li said the company would relaunch a revamped version next year, according to local media such as the state-owned China Securities Journal.
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