MINNEAPOLIS, Jan. 26, 2022 /PRNewswire/ -- Fresh Vine Wine,
Inc. (NYSE American: VINE) today announced the release of its
Limited Reserve Napa Cabernet, the fifth varietal in its expanding
line up in the premium wine category.
Janelle Anderson, CEO Fresh Vine
Wine, Inc., said, "I am extremely pleased to be releasing our
Limited Reserve Napa Cabernet, a wine which has been expertly
hand-crafted with meticulous detail. The introduction of this
premium wine represents further progress in our business objectives
to leverage our presence at retail to increase distribution and
fuel our growth. As part of our distribution initiative, we
are excited to offer this limited release through our retail
partner, Hy-Vee supermarkets. Limited Reserve Napa Cabernet
is another strong product that elegantly complements our growing
line up of "Better For You" wines and appeals to the accelerating
growth in the $69 billion wine
category."
The partnership with Hy-Vee supermarkets is one of just a
limited number of channels through which this premium product can
be accessed. Elite Fresh Vine Wine club members will also be
able to order through an allocation starting in mid-February.
Ms. Anderson continued, "The release of Limited Reserve Napa
Cabernet could not come at a better time as we just experienced
record-breaking consumer awareness and sales of our existing
products after major shareholders Nina
Dobrev and Julianne Hough
appeared across national media following VINE IPO day.
Consequently, we are truly excited to capitalize on this momentum
to continue to grow our brand."
Fresh Vine Wine's vision is to be the leading "Better For
You" brand in this emerging category, capitalizing on the trend
toward healthy living that is sweeping the food and beverage
industry. Fresh Vine Wine's strategy is to accelerate growth
in 2022 by amplifying its marketing, expanding its product
offerings and expanding its team. Fresh Vine Wine will
continue to position their core brand lineup as an affordable
luxury, between $14.99-$22.99. The Limited Reserve Napa Cabernet
Sauvignon is Fresh Vine Wine's new entry into the high-end wine
market.
About Hy-Vee
Hy-Vee, Inc. is an employee-owned
corporation operating more than 285 retail stores across eight
Midwestern states with sales of more than $12 billion annually. The supermarket chain is
synonymous with quality, variety, convenience, healthy lifestyles,
culinary expertise and superior customer service. Hy-Vee ranks in
the Top 5 Most Trusted Brands and has been named one of America's
Top 3 favorite grocery stores. The company's more than 93,000
employees provide "A Helpful Smile in Every Aisle" to customers
every day. For additional information, visit www.hy-vee.com.
About Fresh Vine Wine, Inc.
Fresh Vine Wine, Inc.
(NYSE American: VINE) is a premier producer of low carb, low
calorie premium wines in the United
States, kicking off a 2022 growth plan following its IPO
in mid-December 2021. Fresh Vine Wine's brand vision is to
lead the emerging "Better For You" category, as health trends
continue to accelerate in the US marketplace. The 2020 US wine
market was a $69B category. Fresh Vine Wine plans to
accelerate growth in 2022 by amplifying its marketing, expanding
product offerings and expanding its team. Fresh Vine Wine positions
its core brand lineup as an affordable luxury, retailing
between $14.99-$22.99. Fresh
Vine Wine's varietals currently include its Cabernet Sauvignon,
Chardonnay, Pinot Noir, and Rosé.
Forward-Looking Statements
This press release
includes forward-looking statements. These forward-looking
statements generally can be identified by the use of words such as
"anticipate," "expect," "plan," "could," "may," "will," "believe,"
"estimate," "forecast," "goal," "project," and other words of
similar meaning. These forward-looking statements address various
matters including statements regarding the timing or nature of
future operating or financial performance or other events. Each
forward-looking statement contained in this press release is
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statement. Applicable risks and uncertainties include, among
others, the Company's ability to hire additional personnel and to
manage the growth of its business; the Company's reliance on its
brand name, reputation and product quality; the Company's ability
to adequately address increased demands that may be placed on its
management, operational and production capabilities; the
effectiveness of the Company's advertising and promotional
activities and investments; the Company's reliance on celebrities
to endorse its wines and market its brand; general competitive
conditions; fluctuations in consumer demand for wine; overall
decline in the health of the economy and consumer discretionary
spending; the occurrence of adverse weather events, natural
disasters, public health emergencies, or other unforeseen
circumstances that may cause delays to or interruptions in the
Company's operations; risks associated with disruptions in the
Company's supply chain for grapes and raw and processed materials;
the impact of COVID-19 and its variants on the Company's customers,
suppliers, business operations and financial results; disrupted or
delayed service by the distributors the Company relies on for the
distribution of its wines; the Company's ability to successfully
execute its growth strategy; the Company's success in retaining or
recruiting, or changes required in, its officers, key employees or
directors; the Company's ability to protect its trademarks and
other intellectual property rights; the Company's ability to comply
with laws and regulations affecting its business, including those
relating to the manufacture, sale and distribution of wine; claims,
demands and lawsuits to which the Company may be subject and the
risk that its insurance or indemnities coverage may not be
sufficient; the Company's ability to operate, update or implement
its IT systems; the Company's ability to successfully pursue
strategic acquisitions and integrate acquired businesses; the
Company's potential ability to obtain additional financing when and
if needed; the Company's founders' significant influence over the
Company; and the risks identified in the Company's other filings
with the SEC. The Company cautions investors not to place
considerable reliance on the forward-looking statements contained
in this press release. You are encouraged to read the Company's
filings with the SEC, available at www.sec.gov, for a
discussion of these and other risks and uncertainties. The
forward-looking statements in this press release speak only as of
the date of this document, and the Company undertakes no obligation
to update or revise any of these statements. The Company's business
is subject to substantial risks and uncertainties, including those
referenced above. Investors, potential investors, and others should
give careful consideration to these risks and uncertainties.
Contact: freshvinewine@jonesworks.com
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SOURCE Fresh Vine Wine, Inc.