Benchmark Wine Announces Record Results

Leading Rare and Fine Wine Retailer Announces Best Year in Company History

NAPA, Calif., Jan. 14, 2025 /PRNewswire/ -- Benchmark Wine is pleased to announce that it achieved record sales in 2024. In an environment where many wine companies are struggling, Benchmark Wine Group, the largest rare and back vintage wine reseller in the United States, announced a record fourth quarter cementing 2024 as the best year in company history.

"The combined sales by our flagship operation in Napa, CA, founded in 2002, and east coast operation, Benchmark Wine & Spirits in Washington, DC, founded in 2022, along with our acquisition of Wine Spectrum in October, 2024 was the highest of any year in company history," said Owner and CEO David Parker. "Sales by our east coast operation were nearly 300% of what they were in 2023. The addition of Wine Spectrum contributed to the steady quarter-over-quarter growth in Napa sales throughout the year to provide these gratifying results. Our team has continued to implement technology upgrades and increase our customer and supplier base, while simultaneously expanding into new business areas that parallel our geographic expansion."

While many retailers, producers, and importers have cut back or in some cases ceased operation over the past year, Benchmark's announcement continues to emphasize that some segments of the market are as robust as ever. "We've always focused on the very top wines and specialized in making the broadest selection of them available in perfect condition. This model has consistently excelled in an ever-changing industry," said Parker. "The top collectors and investors in the country remain loyal customers, and the next generation of collectors has discovered us as well. With the growth of our trade customer base and new services for top restaurants and specialty retailers, our business continues to yield great success. Our DC operation has allowed us to enter into the dynamic rare spirits business and Wine Spectrum has helped us expand our storage business and new release wine selection, It has also given us a greater Sonoma County presence and brought additional management and sales team strength.

Benchmark sources its broad range of products from the very top private cellars, the best European brokers and product exchanges, and directly from producer libraries to assure the broadest selection, best prices, and perfectly conditioned wine. Every bottle includes an exclusive provenance guarantee. Wine Spectrum sources new release products from local wineries, as well as from importers and distributors and provides white-glove hands-on sales support to all its clients. It also offers large scale wine storage. The Benchmark DC branch provides a mixture of these services to customers in the Northeast and also deals in rare spirits. All facilities value pristine product condition and careful customer service.

"As other channels for selling their products have declined, many top producers have come to us to help get their product directly to the consumers, award winning restaurants, and clubs that value it the most." added Parker. "The list of producers that make their products directly available to us includes some of the top brands in the world. We also assist high-end producers that are closing out brands or product lines, giving our customer base exclusive access to rare wines. As head of The National Association of Wine Retailers, I view my role as one of helping the entire industry succeed and helping distressed vendors where possible. I believe that cooperation and partnership serves that purpose much better than any company operating in isolation."

The strategy continues to excel as Benchmark grows steadily. Every quarter in 2024 showed growth over 2023, resulting in an overwhelmingly record year in 2024, and their continuing market success during what many view as a very challenging time for the industry.

About Benchmark Wine Group
Established in 2002, Benchmark Wine Group is a licensed importer, distributor and retailer in California, and the leading source of rare and back-vintage wine for wine retailers, restaurants and collectors in the U.S. and throughout the world. Based in Napa, it acquires the most sought-after wines from top producers, resellers and private individuals. Its affiliates – Brentwood Wine Company dba Benchmark Wine and Spirits in Washington, DC; First Growth Technologies, Inc, publisher of The Wine Market Journal & Spirits Market Journal; and CellarPros, LLC, the bespoke high service wine facilitator and storage company – and their staff collectively draw on over a century of industry experience, and are dedicated to providing exceptional selection, provenance, pricing and service.

About Benchmark Wine and Spirits
Born from the success of Benchmark Wine Group, Benchmark Wine & Spirits, based in Washington, DC, has solidified itself as a leading source of rare and vintage-aged wine, while rapidly moving into the rare spirits market. It imports the best products from top wine and spirits producers and brokers in Europe while also being a major buyer of perfectly stored private wine and spirits collections.

About Wine Spectrum
Founded in 1990, The Wine Spectrum was created to offer the greatest wines in the world to customers nationwide. Wine Spectrum's focus is on creating meaningful, long-term relationships with customers who value their sourcing, educational, and fulfillment prowess. Utilizing modern technology along with a seasoned, knowledgeable, and relationship-based human sales force, the company, which was formally acquired by Benchmark Wine Group, in October, 2024, continues to be a major force in the wine industry, now with even more resources.

SOURCE Benchmark Wine Group