The wine storage landscape has never been as dynamic as it is today.
The wine storage landscape has never been as dynamic as it is today. Primarily due to Vino Vault and its goal of “making wine collecting more enjoyable.” With six facilities today and the goal of getting to 40-50, Jeff Anthony, President & CEO, and Jeff Smith, Chief Wine Officer, describe how scale allows them to offer more products and services to customers. From a soon-to-be-launched marketplace to auction advisory, Vino Vault is taking wine storage to another level.
Detailed Show Notes:
Jeff Anthony (President & CEO) - wine enthusiast for 30 years, storage expert for 35 years (Iron Mountain)
Jeff Smith (Chief Wine Officer) - helped father catalog his wine collection and turned it into a business - Carte du Vin Wine Cellar Management and wine storage business that sold to Vino Vault
Vino Vault offerings
7 locations - 3 in LA, Dallas, Houston, NYC, Denver
Storage best practices - temp control, humidity control, security, racking
Wine Owners - proprietary software for full-service customers, can manage collection and schedule delivery
2 types of customers - private locker (~50%) and full service (~50%)
NYC is all full service, trying to get more people on full service
Supply chain and inflation have not impacted business as higher-end customers feel it less
Vino Vault differentiation - national reach, in 6 markets today, will be in 10 by early 2023
Scale benefits - can offer more products & services, can spread expertise and technology across a bigger business
M&A - goal is 40-50 locations, 80% North America, 20% Western Europe (UK), ~8-10 acquisitions / year
Storage market size - ~215-230 Facilities
Auction services - 20 years dealing with all auction houses
Data insights - anecdotally seeing a move away from high-end Napa Cabs and Sine Qua Non
Wine tastings and events - host some at some facilities, building event space in the flagship LA store (The Wine Hotel)
Storage is a sticky business vs. online wine retail which is transient
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