09:25 AM EST - Gaucho Group Holdings, Inc. : 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. Gaucho Group Holdings, Inc.
shares N.VINO are trading unchanged at $0.19.
