PALM BEACH, Fla., Oct. 21, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Wine has gained wide-scale penetration across the globe. Its popularity is attributed to its affordable pricing along with fine taste. Online sales of wine have made it exceptionally affordable and accessible to consumers, regardless of their location. Along with that, digital communication technologies have improved the experience of shopping for different types of wine. The off-trade distribution channel enjoys maximum penetration across the globe. The regular consumption of table and dessert wines is likely to be the major factor driving the sales of different types of wines through off-trade distribution channels. In addition, the low prices of wine being sold through these distribution channels are likely to encourage more consumers to opt for these, resulting in a positive impact on the market growth over the forecast years. According to a report from Grand View said that: "The rising adoption of wine among all age groups from the young generation to the old age population across the globe is the key factor for market growth. The COVID-19 pandemic has disrupted the global wine distribution channel due to the extensive closure of and restrictions on hotels and restaurants across the world." Active Companies in the markets today include Gaucho Group Holdings, Inc. (NASDAQ: VINO), Vintage Wine Estates, Inc. (NASDAQ: VWE), Brown–Forman Corporation (NYSE: BF-A), Willamette Valley Vineyards, Inc. (NASDAQ: WVVI), Constellation Brands, Inc. (NYSE: STZ).
Grand View continued: "Meanwhile, there has been a sudden change in the purchasing behavior of consumers. With restaurants, hotels, and bars shut or running on limited capacity, consumers have turned to food retailers as well as online portals to shop for the product. Direct-to-consumer sales have also benefited from this shift in consumer behavior, with specialist wine trade also reporting some increase in sales. The global wine market size is expected to reach USD 685.99 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The growing preference for wines among all age groups instead of hard spirits across the world is expected to be a major factor contributing to the growth of the market. In addition to this, growing party culture with higher demand for low alcoholic beverages is anticipated to fuel the market growth over the forecast period."
Gaucho Group Holdings, Inc. (NASDAQ:VINO) BREAKING NEWS: GAUCHO GROUP HOLDINGS, INC'S WINE SUBSIDIARY LAUNCHES NEW PREMIUM "BLACK LABEL" PINOT NOIR - Algodon Fine Wines, a wholly owned subsidiary of Gaucho Group Holdings, Inc. and a premium wine brand from the San Rafael, Mendoza wine region of Argentina, announced today the global debut of its newest premium wine, a microvinified "black label" Pinot Noir, now available for preorder at AlgodonFineWines.com.
This special black label Pinot Noir was crafted in limited production of 1,400 bottles, utilizing the microvinification process— a winemaking method reserved for our highest-quality varietals and blends. This wine was aged in new French oak barrels for 24 months. The result is a Pinot Noir with perfectly balanced acidity and tannins.
Those interested may preorder this limited production vintage now at algodonfinewines.com. This microvinified black label wine is expected to ship in April 2022.
This debut is part of an expanded U.S. rollout of Algodon's premium Argentina wine portfolio of award-winning varietals and blends. Algodon Fine Wines can be purchased in the U.S. at AlgodonFineWines.com, where you can save 20% on your order using Friends and Family discount code vino1234 (plus free ground shipping on orders of 6 bottles or more, or your minimum purchase of $150). Algodon Fine Wines are also available at these online and retail locations: VinPorter e-commerce national, Sherry-Lehmann New York City and e-commerce national, Spec's Texas, Le Boutellier Los Angeles, and The Noble Grape Chicago. Algodon Fine Wines are imported to the U.S. by Seaview Imports.
"This world debut of our first black label Pinot Noir is just the beginning of many more premium black label wines that we intend to introduce in the future," said Scott Mathis, CEO and Chairman of Algodon Fine Wines. "We expect this wine to be a real hit with Pinot Noir lovers. And due to its limited production, we are excited to be able to present a private en premier offer to all stakeholders who would like to lock in their order early."
"This Pinot Noir was planted in 2000 with plants specifically selected for the Cuadro Benegas region, which has warm days and cool nights. Clones 777-778 were chosen, which give a measured production of very small clusters and grains with rigid skin and little foliage, important for insolation in the ripening of the fruits" said Algodon Wine Estates Senior Winemaker, Mauro Nosenzo. "The resulting wine is of a medium intensity red cherry color, with fruity aromas. Notes of red fruits such as raspberries and currants can be detected, as well as tobacco and chocolate derived from the passage through the wooden cask. On the palate it is delicate with soft and balanced tannins, with mineral, earthy and some mushroom touches that are striking, and balanced acidity with a persistent finish. You'll be thrilled to sip this from your glass. Cheers!" CONTINUED… Read this full release for Gaucho Group Holdings at: https://www.gauchoholdings.com/news/press
Other recent developments in the markets include:
Vintage Wine Estates, Inc. (NASDAQ: VWE), one of the fastest growing wine producers in the U.S. with direct-to-customer platform, recently announced it has acquired substantially all of the assets of Vinesse, LLC, a direct to consumer platform company specializing in wine clubs with over 60,000 members. Founded in 1993, Vinesse has developed a long-time following by offering interesting boutique wines to a broader audience and making wine accessible and easy to love.
Pat Roney, CEO of VWE, commented, "We are rapidly expanding our DTC capabilities and Vinesse is an excellent addition to the platform. Vinesse currently outsources virtually all of their operations. We believe we can create significant cost synergies by bringing wine making and distribution in house and marketing VWE's brand portfolio through their channels. We also see significant potential opportunities for revenue expansion as we blend the talent of Vinesse's traditional marketing skills with our digital capabilities, particularly through cross-selling into Vinesse's channel and upselling our luxury brands to their club members."
Brown–Forman Corporation (NYSE: BF-A) recently reported financial results for its first quarter of fiscal 2022 with net sales of $906 million increasing 20% (+18% on an underlying basis) compared to the same prior-year period. In the quarter, operating income decreased 25% to $289 million (+15% on an underlying basis) and diluted earnings per share declined 41% to $0.40 due to the gain from the sale of the Canadian Mist, Early Times, and Collingwood brands in the prior year.
Brown–Forman's President and Chief Executive Officer Lawson Whiting stated, "Brown–Forman delivered a strong start to fiscal 2022. These results were driven by the strength of our portfolio, which benefited from the re-opening of the on-premise, sustained at-home consumption, and continued premiumization trends." He added, "While we are optimistic the operating environment will continue to improve, we are closely monitoring the potential volatility associated with the evolving pandemic and continued supply chain disruptions. Backed by the strength of our brands and our people, we are confident in our ability to manage our business for the long term."
Willamette Valley Vineyards, Inc. (NASDAQ: WVVI), a leading Oregon producer of Pinot Noir, recently announced that it generated income applicable to common shareholders for the three months ended June 30, 2021and 2020 of $715,045 and $363,969, respectively, an increase of $351,076, or 96.5%, in the second quarter of 2021 over the same quarter in the prior year.
Sales revenue for the three months ended June 30, 2021 and 2020 were $8,949,951and $5,568,654, respectively, an increase of $3,381,297, or 60.7%, in the current year period over the prior year period. This increase was caused by an increase in sales through distributors of $2,434,315 and an increase in direct sales of $946,982 in the current year three-month period over the prior year period. The increase in direct sales to consumers was primarily the result of retail sales increases in tasting room revenue, phone sales and wine club sales. The increase in revenue from sales through distributors was primarily attributed to higher chain sales and the timing of orders between the first and second quarters.
Gross profit for the three months ended June 31, 2021 and 2020 was $5,139,723 and $3,501,532, respectively, an increase of $1,638,191, or 46.8%, in the second quarter of 2021 over the same quarter in the prior year.
Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, recently reported it is furthering its presence in the New York football market with the announcement of a new multi-year partnership with the New York Jets, New York Giants and MetLife Stadium in East Rutherford, NJ in collaboration with Modelo and the Corona Brand Family.
Modelo Especial, brewed for those with The Fighting Spirit™, is now an official beer sponsor of the New York Giants and Corona Extra will be an official beer sponsor of the New York Jets. Both brands will enter a new partnership with MetLife Stadium in East Rutherford, N.J. The brands' presence in the stadium will provide Jets and Giants fans with a unique viewing and meeting experience equipped with advertising and branding from football fans' favorite import beer brands.
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