News Briefs for October 14, 2021October 14, 2021
•Hennessy is releasing two ultra-luxury Dame Jeannes, priced at around $700,000 each. A Dame Jeanne is a vessel, traditionally covered in wicker, to store eau-di-vie preserved for future blending of Hennessy, according to the company. Each Dame Jeanne will house a personalized blend made by master blender Renaud Fillioux de Gironde, with each vessel itself also customized, monogrammed and presented to its buyer in Cognac by the master blender.
•Avaline, the wellness-focused wine brand from actress Cameron Diaz and entrepreneur Katherine Power, has launched a new limited-edition Pinot Noir, the brand’s first wine sourced from California. The 12.8% abv Pinot Noir is from the 2020 vintage with grapes sourced from the Russian River Valley by Porter Creek Vineyards. Avaline Pinot Noir will be available exclusively on the brand’s website for $26 and is the brand’s first single varietal wine. It joins a red blend, white blend, rosé, and sparkling wines in the Avaline portfolio.
•California-based winery Winc has announced the launch of its IPO, targeted to raise $75 million. Winc’s offering includes 5 million shares of common stock, currently expected to be between $14 and $16 per share. Winc has applied to list its common stock on the NYSE under the symbol “WBEV.” Winc produces and sells wine directly to its list of 120,000 monthly members, and also through the three-tier system, with a presence in 7,700 wholesaler serviced accounts. Brands include Summer Water, Folly of the Beast, Lost Poet, The Wonderful Wine Co., and Cherries & Rainbows. The company had volume of 430,000 cases in 2020 and $71 million in revenue in the 12 months through June.
•Molson Coors has entered the spirits category with Five Trail Blended American whiskey. The 47.5% abv whiskey is blended from three Bourbons, including a four grain recipe and a 13-year-old Bourbon, along with a Colorado single malt. Molson Coors’ initial foray into brown spirits was made in a partnership with Kentucky’s Bardstown Bourbon Company. Five Trail is now available in Colorado, Georgia, Nevada, and New York for around $60 a bottle.
•Breakthru Beverage has appointed Mike Boswell as vice president of its Digital E-Commerce Center of Excellence. Boswell, who previously served as vice president, corporate strategy, “has played a key role in developing many enterprise-wide efforts to advance Breakthru’s capabilities across our North American footprint,” according to Maggie Lapcewich, Breakthru’s executive vice president, chief growth officer. In his new role he’ll work to further Breakthru’s digital evolution, which has most recently seen the company launch its proprietary B2B e-commerce platform Breakthru Now and strengthen its partnership with Provi across its footprint.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.