With Executive Team Strengthened, Elliot Savoie Now to
Head Corporate Development and Ventures
MINNEAPOLIS, April 5,
2022 /PRNewswire/ -- Fresh Vine Wine, Inc. (NYSE
American: VINE), the premier producer of lower carb, lower sugar,
and lower calorie premium wines in the
United States, today announced the appointment of
Ellen Scipta as Chief Financial
Officer. As a key member of the Fresh Vine Wine executive
leadership team, Ms. Scipta will lead the company's accounting and
financial operations and aid in Fresh Vine Wine's continued
accelerated growth. Elliot
Savoie, who had been serving as Fresh Vine Wine's CFO since
its IPO, has transitioned to Head of Corporate Development and
Ventures.
Janelle Anderson, CEO of Fresh
Vine Wine, Inc., said, "I am very pleased to welcome Ellen to the
Fresh Vine Wine executive team. She is a proven leader who
will strengthen and deepen our senior management team as we
continue to embark on our aggressive growth plan. Ellen
brings a unique blend of public company experience with strategic
and operational skills, which are perfectly suited for our business
and our brand. I also want to thank Elliot for his
contribution as CFO during our IPO. His new role will
leverage his extensive consulting experience where he has helped
numerous organizations develop and implement both organic and
inorganic growth strategies. I am excited to continue to work
with Elliot in his new role and am also looking forward to working
with Ellen."
Ms. Scipta brings more than 20 years of financial leadership
experience to her new role at Fresh Vine Wine, rooted in delivering
shareholder value and driving growth. Most recently, she was CFO of
Intricon, a joint development manufacturer of advanced
micro-medical technology, which is currently under agreement to be
acquired by an affiliate of Altaris Capital Partners. Before
Intricon, she served as the Vice President of Finance at
Bio-Techne, a global manufacturer and retailer of Life Science and
Diagnostic Products, where she was responsible for all strategic,
financial, and operating processes. Previously, she served as the
Director of Enterprise Strategy as well as Director of Financial
Planning and Analysis at CHS Inc., a Fortune 100 Agriculture and
Energy Cooperative. Prior to CHS Inc., Ms. Scipta held financial
leadership roles within retailers Best Buy Co, Inc., and Target
Corporation. Earlier in her career, Ms. Scipta served as a strategy
consultant for PricewaterhouseCoopers.
"The Fresh Vine Wine team has done a fantastic job developing a
strong vision, strategy and plan to create a new wine category with
premium products that capitalize on the trend toward more healthy
living choices. . This will serve as a strong platform to leverage
into other growth opportunities. I am excited to be joining
FVW at this dynamic point in their growth and believe we are
well-positioned to build value for our shareholders," said Ms.
Scipta.
Ms. Scipta holds an MBA with a concentration in Finance and
Strategy from the Kelley School of Business at Indiana University and a Bachelors in Aeronautical
and Astronautical Engineering from Purdue
University.
About Fresh Vine Wine,
Inc.
Fresh Vine Wine, Inc. (NYSE American: VINE) is a premier
producer of lower carb, lower 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
natural and accessible premium wine 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.