USA: WineAccess Receives $3 Million in Additional Funding
"This additional investment allows us to move our infrastructure faster and further to keep up with the accelerated demands of our network," says James Weinrott, Founder and CEO of WineAccess. He adds, "The general web/wine space is seeing consolidation, while we've been experiencing continuous, linear growth in both the network of stores and wine consumers using our systems."
WineAccess.com is a national community of wine consumers online, each one a customer serviced by an actual local retail store. WineAccess custom builds each wine shop's website, using each store's own point-of-sale system to automatically update and market that store's inventory of wines on the store's website.
To the online consumer, it is a virtual walk through their local wine shop. They can query their store manager, see what items are currently in stock, find out about local tasting events, and sort the top rated wines by other WineAccess.com site members throughout the country.
Right from the store's website, the consumer also has access to a database of over 250,000 wines; wine-tasting groups; member reviews of wines, restaurants and places to stay, rated on a five-star system; members-only discussion forums, and a "wine finder" service through which member stores will search for hard-to-find wines. Members also have a personal web page that keeps track of their "wine portfolio," a listing of wines purchased, tasted and rated by each member.
To date, WineAccess has contracts and commitments to supply its web technology to approximately 71 stores, representing over $300 million in sales volume. James Weinrott, WineAccess founder explains, "Selling wine is a very personalized business. Consumers rely on local retailers to guide them in their selections and offer a forum for discussion. WineAccess.com gives retailers and consumers the ability to maintain and enhance these relationships."
WineAccess, based in Narberth, PA, received $6 million in investment capital from Mellon Bank's Mellon Ventures, Safeguard Scientifics' Pennsylvania Early Stage Partners, and RAF Industries in 1999.
- How to turn a domestic spirit into a global brand
- Mahou San Miguel - just the Facts
- Whatever happened to binge Britain? - comment
- A game of two halves for Remy Cointreau - Analysis
- Britvic's FY Performance by Region - Focus
- Beam Suntory to sell brandy & sherry to Emperador
- Captain Morgan distillation trial queried by USVI
- Sazerac sues Brown-Forman over Tennessee Fire
- Former Diageo exec joins William Grant in LatAm
- This week in spirits & wine
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Beer Market 2015-2019
- Global Wine Market to 2019 - Market Size, Development, and Forecasts