The US conglomerate Constellation Brands has published its figures for the past fiscal year 2023 (March 1, 2022 to February 28, 2023). In the wine and spirits segment, both volume and sales declined compared to the previous year.
In the second largest bank failure in US history, the California-based Silicon Valley Bank went into receivership last week as a result of inadequate liquidity and insolvency. The bank was closely involved with both the tech start up and wine sectors and sometimes brought them together. Robert Joseph reports.
American communications professionals were out in force at Wine2Wine in Verona and they shared their insights into how the media works. Felicity Carter reports.
As distributors get bigger, they require brands with bigger volumes to service their markets. This will reduce opportunities for small-to-medium-sized wine producers. Liza B. Zimmerman reports.
One of the most important trends in the US wine market over the last decade or so has been the growth in winery DTC – Direct To Consumer sales. With an average price per DTC bottle of $41.16.
There was sobering news at the annual presentation of the Silicon Valley Bank report—young consumers are showing no signs of embracing wine as they mature.
Jackson Family Wines (JFW) filed a federal lawsuit against its insurance company Dec. 9, 2022, for failing to pay millions of US dollars in fire damages, according to court documents.
Winc, the much lauded 11-year old online business that went public last year, has collapsed, despite $54.2m from venture capital investors including Bessemer Venture Partners, Shining Capital and Crosscut Ventures. Sherry-Lehmann, the 88-year-old Manhattan store faces a $3m unpaid tax bill and rumours of possible closure.
Tradition demands the participation of individuals who are dedicated to preserving it. For the Trentino winegrowers’ cooperative Mezzacorona, this involves safeguarding the indigenous grape varieties Teroldego and Marzemino, showcasing their qualities both as monovarietal wines and in blends.
