Boutique Argentina Winery continues to introduce its portfolio of award-winning Malbec wines to global markets
MIAMI, FL / ACCESSWIRE / October 31, 2022 / Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that encompasses a growing collection of e-commerce platforms focused on fine wine, luxury real estate, and leather goods and accessories (the “Company”), today announced the initiative of Algodon Fine Wines 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 people, over 150 million are of legal drinking age and around 39 million consumers in Brazil drank wine at least once a month, according to Statista. Brazil imports $65.6 million worth of Argentine wine annually. This number is expected to increase as more and more direct-to-consumer websites and mobile applications grow in the Brazilian market. Brazil currently ranks second in terms of number of downloads of the world’s largest wine application VIVINO (which currently has a community of over 50 million wine lovers) – with over 4.2 million members. With 10.6 million buyers, Brazil is the third largest wine e-commerce market in the world, behind only the United States and China.
“We are very pleased to announce this initiative to expand Algodon’s wine distribution in one of the largest markets in the world, Brazil,” said Scott Mathis, CEO and Chairman of Algodon Fine Wine. “According to some estimates, the global wine market is expected to be worth up to US$599 billion by 2028. As such, we are pleased to see our distribution network and customer base growing. Looking ahead to Q4 2022, we also hope to launch a new “Gaucho” branded wine line, which may include a microvinified Malbec blend and possibly a Gaucho-banded Chardonnay, both in limited production.
“This new opportunity for Algodon Fine Wines to enter the Brazilian e-commerce market is very exciting for us,” commented Sergio Manzur Odstrcil, Algodon’s Chief Operating Officer. “Last September, we broke our previous sales record for online orders through our Argentine e-commerce platform (algodonwines.com.ar). We believe that Brazil can generate even more revenue, not only because of the significant population difference between Brazil and ours countries, but also because sales and imports of Argentine wines in major Brazilian cities such as Rio de Janeiro, São Paulo and Brasilia, among others, have increased steadily year after year.”
The initiative to expand Algodon’s reach in Brazil follows recent accelerated development by 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 and VIVINO E-Commerce.
About Algodon Fine Wines
Algodon Fine Wines are produced at Algodon Wine Estates, a boutique Mendoza winery nestled in the beautiful foothills of the Sierra Pintadas in the southernmost region of Argentina’s wine capital. Fed by the purest meltwater from the glacial Andes, our 325 hectares of vines date back to 1946 and produce exceptional fruit on sandy and loamy loams. Algodon is one of the few wineries in Argentina that makes wines through a process called microvinification. This process is carried out entirely by hand by our passionate winemaker Mauro Nosenzo, assisted by Master of Wine Anthony Foster. Brought together by Scott Mathis and his partners, the renowned winemakers of Algodon Wine Estates bring decades of experience and craftsmanship and tradition passed down through the generations. Each of our small-batch wines blends the best of these Old World techniques with modern winemaking technology and sustainable, eco-friendly practices to create unparalleled New World varietals. Algodon Fine Wines is wholly owned by Gaucho Group Holdings, Inc. (gauchoholdings.com), which creates luxury experiences, properties and products that celebrate the vibrant and distinctive Argentine lifestyle. To learn more, visit algodonfinewines.com. To buy wines in Argentina please visit AlgodonWines.com.ar
About Gaucho Group Holdings, Inc.
For more than a decade, Gaucho Group Holdings, Inc. (gauchoholdings.com)’s mission has been to find and develop opportunities in Argentina’s undervalued luxury real estate and consumer markets. Our company is positioned to capitalize on the continued and rapid growth of global e-commerce across multiple market sectors with the goal of becoming a leading provider of diversified luxury goods and experiences in desirable lifestyle industries and retail landscapes. With a focus on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) in conjunction with our own Algodon brand, as well as leather goods, ready-to-wear and fashion brand accessories Gaucho – Buenos Aires™ (gaucho.com), these are the luxury brands where Argentina finds its contemporary expression.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements contained herein, other than statements of historical fact, concern, among other things, changes in the Foreign exchange rates and their effect on the company, planned investments, future cash flows and borrowings, the pursuit of potential acquisition opportunities, our financial condition, business strategy and other plans and objectives for future operations, forward-looking statements . Although we believe that the expectations reflected in these forward-looking statements are reasonable, they involve certain assumptions, risks and uncertainties and are not (and should not be relied upon as) guarantees of future performance. Consider our risk factors detailed in our reports submitted to Edgar. The Company disclaims any obligation to update any forward-looking statements contained herein.
Gaucho Group Holdings, Inc.
SOURCE: Gaucho Group Holdings, Inc.
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