For its part, the Shanghai - listed aka Swellfun is also a purveyor of high - end spirits.

在上海上市的水井坊本身也是高端酒类生产商。

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Furthermore, in their branding, high-end spirits companies have major intangible assets that take decades to build and are almost impossible to replicate.

FORBES: A Hangover In Booze Stocks?

High-end and super-premium spirits accounted for just over 25% of the volume of spirits sold in America last year, but more than 45% of the revenue.

ECONOMIST: American beer and spirits

Only 3% of the spirits market there is considered by industry analysts to be high-end, or at the "premium" level.

FORBES: Magazine Article