The luxury wines and spirits market could be worth nearly $1.2 trillion by 2028, according to Market Research Future. For one, “Internet users have significantly increased, and internet usage is rising. The majority of major participants in the market for premium wines and spirits plan to advertise their goods on social media channels.” Two, “there is a higher level of health awareness, followed by a sharp increase in disposable income, increasing people's purchasing power. These are some reasons that are creating potential opportunities for the industry.” That could be beneficial for top wine companies, such as Gaucho Group Holdings Inc. (NASDAQ: VINO), LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY), Vintage Wine Estates (NASDAQ: VWE), Constellation Brands (NYSE: STZ), and Brown-Forman Corp. (NYSE: BFB).
Look at Gaucho Group Holdings Inc. (NASDAQ: VINO), For Example
Gaucho Group Holdings, Inc. (NASDAQ: VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced Algodon Fine Wines’ initiative to develop a direct-to-consumer e-commerce platform for the Brazilian market, giving Brazilian wine lovers access to Algodon’s portfolio of award-winning Malbec wines.
As the largest economy in Latin America, with an estimated population of over 210 million inhabitants, over 150 million are of legal drinking age, and around 39 million consumers in Brazil drank wine at least once per month, according to Statista. Brazil imports USD 65.6 million of Argentina wine annually. This number is expected to increase as more direct-to-consumer websites and mobile applications grow in the Brazilian market. Brazil currently ranks second in number of downloads of the world’s largest wine application VIVINO (which currently boasts a community of over 50 million wine enthusiasts) – with over 4.2 million members. Brazil is the third largest wine e-commerce market in the world, with 10.6 million purchasers, behind only the United States and China.
"We're thrilled to announce this initiative to expand Algodon’s wine distribution in one of the world’s largest markets, Brazil" said Scott Mathis, Algodon Fine Wine's CEO & Chairman. “The Global Wine Market is expected to be worth up to USD 599 billion by 2028 by some estimates. And so, we are excited to see our distribution network and consumer base grow. Looking ahead to Q4 2022, we also hope to launch a new “Gaucho” branded wine line, that may include a Malbec microvinified blend, and potentially a Gaucho banded chardonnay, both in limited production.”
"This new opportunity for Algodon Fine Wines to penetrate the Brazilian e-commerce market is very exciting for us,” commented Algodon’s Chief Operating Officer, Sergio Manzur Odstrcil. “This past September, we broke our previous sales record for online orders coming from our Argentine e-commerce platform (algodonwines.com.ar). We believe that Brazil can bring in even more revenues, not only because of the significant population difference between our countries, but also because year after year Argentine wines sales and imports have been steadily increasing in major Brazilian cities such as Rio de Janeiro, São Paulo, and Brasilia, among others.”
The initiative to expand Algodon’s reach in Brazil follows the Company’s recent increased development of Algodon Fine Wines US retailers and distributors, including Southern Glaziers Wine & Spirits FL, Seaview Distribution NY, 3J Imports NJ, Vinporter E-Commerce, Sherry-Lehmann NY, Spec's TX, Le Boutellier CA, The Noble Grape IL, as well as Vivino E-Commerce.
Other related developments from around the markets include:
LVMH Moet Hennessy Louis Vuitton pursues policy to reduce energy consumption, signing first partnership with a leading shopping mall owner, Hang Lung Properties, creating a framework for energy efficiency collaboration. The partnership was announced in conjunction with the LIFE360 in Stores event on October 25-26, part of LVMH’s LIFE 360 environmental initiative. Alongside this new partnership, the event celebrates best practices in energy performance at the Group’s stores, with seven awards going to the most outstanding achievements.
Vintage Wine Estates, a leading beverage alcohol company, announced that Jessica Kogan has been appointed to Chief Growth & Experience Officer. As part of her newly expanded responsibilities, Ms. Kogan will lead digital transformation initiatives focused on disruptive ways to deepen customer affinity and enable meaningful efficiencies in content publishing. Ms. Kogan will also serve as a member of the Senior Leadership Team of Vintage Wine Estates, providing continued insight and direction specific to omnichannel opportunities. Ms. Kogan joined Vintage Wine Estates in 2017 with the acquisition of Cameron Hughes Wine, a digital native business that she co-founded. In 2019, she was promoted to Chief Digital Officer and Chief Marketing Officer with the specific mandate to grow its direct-to-consumer (DTC) business segment. Under her leadership, DTC more than tripled growing from $30 million in revenue to just over $90 million driven by a customer-first strategy brought to life both in content and distribution. Leveraging headless digital technologies focused on unifying the customer omnichannel experience, Ms. Kogan created demand for VWE brands by reaching a much larger, truly relevant customer audience.
Constellation Brands, a leading beverage alcohol company, published its inaugural ESG Impact Report – an evolution of the company’s Corporate Social Responsibility reports – highlighting established commitments and targets to positively impact the planet and its people, and progress made toward achieving them. “While Constellation has a rich history demonstrating its commitment to doing well by doing good, we believe the social, economic, and environmental challenges of today’s world require greater accountability, which is why we’ve bolstered our ESG commitments as a core tenet of our long-term business strategy,” said Bill Newlands, Constellation Brands’ President and Chief Executive Officer. “We are extremely proud of the progress we’ve made to help our communities and planet thrive, and we are excited to share it with our stakeholders. I sincerely thank our Constellation team members, as well as our non-profit, industry, and community partners, and broader stakeholders, for their continued support and collaboration. Together, we are striving to create a future that is truly Worth Reaching For.”
Brown-Forman Corp. reached an agreement to purchase the Diplomático Rum brand and related assets from Destillers United Group S.L. (Spain). Upon completion of the transaction, Brown‑Forman will add the Diplomático Rum family of brands to its portfolio and acquire a production facility located in Panama. The Diplomático Rum family of brands is the No. 1 super- and ultra-premium rum and the No. 2 super-premium+ rum worldwide (IWSR, 2021). Super-premium+ rum has grown at an annual rate of 17% over the past five years, with rum accounting for approximately 8% of global spirits. “Diplomático Rum will join our expanding portfolio, giving Brown‑Forman a market leading entry into the fast-growing super-premium rum category. This aged rum brand has distinctive packaging, strong brand positioning, and is a delicious tasting spirit,” said Lawson Whiting, President and CEO, Brown‑Forman Corporation. “As part of this acquisition, we will welcome more than 100 new employees to Brown‑Forman.”
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