Gaucho Group Holdings, Inc's Wine Subsidiary Launches Shop Online in Argentina
Algodon Fine Wines, a subsidiary of Gaucho Group Holdings (OTCQB:VINO), has launched a new e-commerce platform targeting consumers in Argentina at AlgodonWines.com.ar. This initiative allows direct sales of premium wines from their San Rafael winery. The brand aims to capitalize on the growing e-commerce market, especially accelerated by the COVID-19 pandemic. CEO Scott Mathis highlights the elimination of intermediaries for better profit margins, as the company seeks to become a leader in Argentina's online wine and olive oil sales.
- Launch of e-commerce for Argentine consumers, enhancing direct sales.
- Better-than-expected sales growth despite the pandemic.
- Potential to capture a large market share in Argentina's e-commerce wine sector.
- None.
Argentine Wine Brand, Algodon Fine Wines, Continues Rollout of its Wines with Debut of Direct to Consumer E-Commerce for Argentine Shoppers
NEW YORK, NY / ACCESSWIRE / September 10, 2020 / Algodon Fine Wines, a wholly owned subsidiary of Gaucho Group Holdings, Inc. (OTCQB:VINO), and a premium wine brand from the San Rafael, Mendoza wine region of Argentina, has announced the launch of its e-commerce initiative servicing patrons in Argentina, at AlgodonWines.com.ar. The e-commerce store sells and ships Algodon wines direct from its San Rafael, Mendoza winery to consumers living in Argentina. This debut is part of an expanded effort to rollout the brand's premium Malbec-based wines, as well as the rest of the Algodon portfolio of award-winning varietals and blends.
Algodon recently announced the launch of its e-commerce initiative servicing the United States, starting with an opportunity with California based VinPorter Wine Merchants to create AlgodonFineWines.com for consumers in the U.S. The U.S. e-commerce store, powered by VinPorter, links to a virtual storefront showcasing the Algodon wines currently distributed in the U.S. In addition to the Algodon Fine Wines site powered by VinPorter, these wines are also available throughout the U.S. both in-store and online at such retailers as Spec's, Sherry-Lehmann, The Noble Grape and the Vivino Marketplace.
"The ability to sell our wines direct to consumer online in Argentina could not be more exciting for our brand;" said Scott Mathis, CEO and Chairman of Algodon Fine Wines. "We believe the COVID-19 pandemic has greatly accelerated the growth of the already booming e-commerce marketplace. We launched the Argentine website for Argentina consumers during the height of the pandemic. The resulting sales have been far better than we anticipated and continue to grow. We are excited about this opportunity, as it adds another dimension to our e-commerce initiatives. By selling DTC - direct to consumer, we eliminate the wholesaler and retailer, and the company retains a much greater margin. With a population of nearly 45 million people, we intend to become a leader in e-commerce wine and olive oil sales in Argentina."
Algodon Fine Wines, founded in 2007 and with vineyards dating back to 1946, is one of the most exciting and dynamic wine brands emerging from Argentina. Located in San Rafael, Mendoza, Algodon produces a full range of premium wines from land holdings that include noted parcels of pre-phylloxera vineyards dating back to the 1940s. Algodon's premium wines have received a number of top awards and ratings from the world's foremost tasting competitions including Gold Medals from the prestigious Global Masters Wine Competition, comprised of master sommeliers. Algodon's Black Label Reserves represent the best selection from Algodon with
About Algodon Fine Wines
Algodon Wine Estates is a boutique Mendoza winery located 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 acres of vines go back as far as 1946 and produce exceptional fruit on sandy and clay loam. Algodon Fine Wines are handcrafted by the brilliant winemaker Mauro Nosenzo, who is advised by Master of Wine, Anthony Foster. Our goal is to produce premium wines utilizing ecofriendly, organic inspired approaches, combined with the best modern winemaking technology. Brought together by Scott Mathis and his partners, Algodon Wine Estates' renowned winemakers bring decades of experience, as well as craftsmanship and tradition that have been passed down for generations. Algodon Fine Wines is a wholly owned subsidiary of Gaucho Group Holdings, Inc., which also owns and operates a growing collection of luxury assets including Gaucho - Buenos Aires, an e-commerce leather accessories and fashion brand that offers buyers around the world some of Argentina's best fashion and apparel items, including what the county is already well-known for: quality leather goods and accessories. Gaucho Group Holdings, Inc. is headquartered in New York City.
Media Relations:
Gaucho Group Holdings, Inc.
Rick Stear
Director of Marketing
212.739.7669
rstear@gauchoholdings.com
SOURCE: Gaucho Group Holdings, Inc.
View source version on accesswire.com:
https://www.accesswire.com/605484/Gaucho-Group-Holdings-Incs-Wine-Subsidiary-Launches-Shop-Online-in-Argentina
FAQ
What is the stock symbol for Algodon Fine Wines?
When did Algodon Fine Wines launch its e-commerce site for Argentina?
How does Algodon Fine Wines plan to benefit from its new e-commerce platform?
What types of wines does Algodon Fine Wines offer?
How has the COVID-19 pandemic affected Algodon Fine Wines?
