Selected to lead consumer-centric growth
agenda and foster data-driven culture to define market
opportunities, optimize portfolio strategy and strengthen brand
desirability in-service of a virtuous marketing cycle
Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the
“Company”), one of the top wine producers in the U.S., today
announced the appointment of Ryan Watson as Chief Marketing Officer
(“CMO”). Mr. Watson joins VWE with nearly 20 years’ experience in
global, data-driven, consumer-oriented marketing and
transformational strategies in both B2B and B2C verticals across a
variety of industries. He will begin his duties on January 16,
2024.
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As VWE’s CMO, Mr. Watson will lead the effort to drive consumer-
and demand-centric thinking across the enterprise with
responsibilities for insights, data & analytics, brands,
innovation and portfolio management, DTC and digital strategy as
well as design, public relations and communications.
Seth Kaufman, President and Chief Executive Officer, commented,
“We are thrilled to welcome Ryan to our executive team to lead our
efforts in creating a consumer-focused enterprise that can deliver
sustainable growth. We expect him to be a significant contributor
as we measurably simplify the business and our business model.
Ryan’s significant knowledge in data driven analysis will help to
develop capability within the business for deeper understanding of
market dynamics, consumer behavior and emerging trends. We believe
this will prove valuable as we craft a consumer-centric portfolio
strategy grounded in relevant and desirable brands that create a
virtuous cycle across physical retail, on-premise, eBusiness and
on-site visitation to optimize the cost and impact of customer
acquisition. We are making progress with our Five-Point Plan as we
look to reduce costs and monetize assets to pay down debt, while
concurrently developing a robust strategy that reimagines the
future for VWE to create long-term shareholder value.”
Mr. Watson joins VWE from Boston Consulting Group (“BCG”) where
he was a Partner focused on digital, growth and marketing topics in
a range of consumer industries. A core area of focus was the
commercialization of an integrated marketing measurement and
activation offering leveraging advanced analytics and AI. Prior to
BCG, Mr. Watson had a unique career path spanning Amazon, Kraft
Heinz, Tesco, and two high-growth consumer companies. During his
rapid ascent in challenging and increasingly senior roles, Mr.
Watson established a track record of delivering growth, increasing
market share, and driving profitability while building
high-performing, customer-centric organizations. Mr. Watson began
his career at Goldman Sachs & Co., where he advanced from
Analyst to Vice President, and subsequently first joined BCG
earlier in his career. He earned his B.A. in Economics at Princeton
University and is a CFA charterholder.
About Vintage Wine Estates, Inc.
Vintage Wine Estates (Nasdaq: VWE and VWEWW) is a family of
wineries and wines whose singular focus is producing the best
quality wines and incredible customer experiences with wineries
throughout Napa, Sonoma, California’s Central Coast, Oregon, and
Washington State. Since its founding 20 years ago, the Company has
grown to be the 14th largest wine producer in the U.S., selling
more than 2.2 million nine-liter equivalent cases annually. With
approximately 40 brands, key focus brands include ACE Cider, Bar
Dog, B.R. Cohn, Cameron Hughes, Cherry Pie, Firesteed, and Kunde,
many of which have achieved critical acclaim. To consistently drive
growth, the Company curates, creates, stewards, and markets its
many brands and services to customers and end consumers via a
balanced omni-channel strategy encompassing direct-to-consumer,
wholesale, and private label and custom wine making services. While
VWE is diverse across price points and varietals with brands
ranging from $10 to $150 USD at retail, its primary focus is on the
fastest growing luxury segment of the U.S. wine industry with the
majority of brands selling in the range of $10 to $20 per bottle.
The Company regularly posts updates and additional information at
ir.vintagewineestates.com.
Forward-Looking Statements
Some of the statements contained in this press release are
forward-looking statements within the meaning of applicable
securities laws (collectively, “forward-looking statements”).
Forward-looking statements are all statements other than those of
historical fact, and generally may be identified by the use of
words such as “believe”, “expect”, “making”, “developing”, “will”
or other similar expressions that indicate future events or trends.
These forward-looking statements include, but are not limited to,
statements regarding VWE’s Five Point Plan and business strategies;
VWE’s strategies related to hiring; the timing of Ryan Watson’s
start with the Company; the ability of Mr. Watson to execute on
leading consumer- and demand-centric thinking across the enterprise
including through insights, data & analytics, brands,
innovation and portfolio management, DTC and digital strategy as
well as design, public relations and communications; the ability of
Mr. Watson to help simplify the business and our business model;
the value of Mr. Watson’s services, and the expected results and
performance of Mr. Watson with the Company. These statements are
based on various assumptions, whether or not identified in this
news release, and on the current expectations of VWE’s management.
These forward-looking statements are not intended to serve as, and
should not be relied on by any investor as, a guarantee of actual
performance or an assurance or definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and may differ materially from those
contained in or implied by such forward-looking statements. These
forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond the control of VWE. Factors
that could cause actual results to differ materially from the
results expressed or implied by such forward-looking statements
include, among others: risk that Mr. Watson does not perform in his
role as CMO as expected; the Company’s ability to recognize
benefits from any organization restructuring and other cost savings
actions, including expected results from the implementation of the
Company’s Five-Point Plan, positive cash generation and asset
monetization; the Company’s ability to regain compliance with the
Nasdaq Listing Standards and maintain the listing of its securities
on Nasdaq; risks related to ongoing legal proceedings; the
Company’s limited experience operating as a public company and its
ability to remediate its material weaknesses in internal control
over financial reporting and to maintain effective internal control
over financial reporting; the ability of the Company to retain key
personnel; the effect of economic conditions on the industries and
markets in which VWE operates, including financial market
conditions, rising inflation, fluctuations in prices, interest
rates and market demand; the effects of competition on VWE’s future
business; the potential adverse effects of health pandemics,
epidemics or contagious diseases on VWE’s business and the U.S. and
world economy; declines or unanticipated changes in consumer demand
for VWE’s products; disruption of supply or shortage of energy;
VWE’s ability to adequately source grapes and other raw materials
and any increase in the cost of such materials; the impact of
environmental catastrophe, natural disasters, disease, pests,
weather conditions and inadequate water supply on VWE’s business;
VWE’s level of insurance against catastrophic events and losses;
impacts from climate change and related government regulations;
VWE’s significant reliance on its distribution channels, including
independent distributors, particularly in its wholesale operations;
a loss or significant decline of sales to important distributes,
marketing companies, or retailers; risks associated with new lines
of business or products; potential reputational harm to VWE’s
brands from internal and external sources; decline in consumer
sentiment to purchase wine through VWE’s Direct-to-Consumer
channels; possible decreases in VWE’s wine quality ratings;
integration risks associated with recent or future acquisitions;
possible litigation relating to misuse or abuse of alcohol; changes
in applicable laws and regulations and the significant expense to
VWE of operating in a highly regulated industry; VWE’s ability to
maintain necessary licenses; VWE’s ability to protect its
trademarks and other intellectual property rights; risks associated
with the Company’s information technology and ability to maintain
and protect personal information; VWE’s ability to make payments on
its indebtedness; risks that the Company is unable to meet the
additional restrictions and obligations imposed by its amended
credit agreement; and those factors discussed in the Company’s most
recent Annual Report on Form 10-K and in subsequent Quarterly
Reports on Form 10-Q or other reports filed with the Securities and
Exchange Commission. There may be additional risks including other
adjustments that VWE does not presently know or that VWE currently
believes are immaterial that could also cause actual results to
differ from those expressed in or implied by these forward-looking
statements. In addition, forward-looking statements reflect VWE’s
expectations, plans or forecasts of future events and views as of
the date and time of this news release. VWE undertakes no
obligation to update or revise any forward-looking statements
contained herein, except as may be required by law. Accordingly,
undue reliance should not be placed upon these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240104921140/en/
Investors Deborah K. Pawlowski Kei Advisors LLC
dpawlowski@keiadvisors.com Phone: 716.843.3908
Media Mary Ann Vangrin
mvangrin@vintagewineestates.com
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