Exclusive news and research on the wine, spirits and beer business

News Briefs for October 1, 2015

October 1, 2015

•When the Coravin was launched in July 2013, there were plenty of skeptics: Could the device really extract a glass of wine from a bottle and leave the remainder sealed and fresh? And was there a market for that? Inventor and founder Greg Lambrecht said he expected to sell 20,000 to 30,000 in the first few years. Despite the learning curve, as well as some setbacks, Coravin sales have exceeded 100,000 units, and the company has raised more than $39 million in funding. Now Lambrecht and his team are doubling down, hoping to tap into a much broader market. On September 29, they launched a new generation of Coravin, dubbed Model Two. Wine Spectator has the full story.

•Compass Box is set to debut a new upscale blended Scotch offering, This Is Not A Luxury Whisky, in the U.S. market in November. Bottled at natural cask strength of 53.1% abv, This Is Not A Luxury Whisky is launching in a limited rollout of just under 5,000 bottles, which depict its brand name scrawled in large letters. The new product includes 19-year-old whisky from Glen Ord, two separate parcels of 40-year-old grain from Girvan and Strathclyde and some 30-year-old malt whisky from Caol Ila. Bacardi took a minority stake in Compass Box last year.

•New York’s Domaine Select Wine & Spirits (DSWS) has acquired Miami-based wine and spirits distributor Vinecraft LLC for an undisclosed sum. Vinecraft will continue to operate as an independent unit, led by company founder and president Paul Owens, with operational and warehouse support from DSWS. According to DSWS founder Paolo Domeneghetti, the move will expand the group’s reach in Florida, already its third-largest market. In July, DSWS partnered with Miami private equity group Walden Capital Management.

•California fine wine distributor Titan Wine Selections has added Sake Tengoku to its lineup. Sake Tengoku’s portfolio of small production sake breweries, located across Japan’s most renowned sake regions, straddles a range of styles and price points. Among Tengoko’s offerings are Gunma Izumi Honjozo 2013, Matsuno Kotobuki Honjozo and Aizu Chushou Junmai 2013 (all $32 a 720-ml.). Titan is owned by Alex Guarachi of Guarachi Wine Partners.

 

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