The Company is pleased to advise investors that its principal operating business, WINEDEPOT has zero exposure to Australian wine exports to China, following the Chinese government’s recent decision to impose tariffs of between 107% and 212% on Australian wine.
The Company is pleased to announce the WINEDEPOT will be expanding its addressable market, by providing wineries the ability to not only list their products for sale on the Direct-to-Trade Marketplace, but also across a broad range of Direct-to-Consumer channels including online retailers and consumer marketplaces.
In addition, WINEDEPOT will open its Marketplace up to corporate, SMEs and other registered businesses – on a “Costco-like” membership model, that provides discounted pricing for larger purchases.
Digital Wines CEO Dean Taylor explains the rationale for opening the Marketplace up to businesses.
“Up until now, the focus of our Marketplace has been servicing trade buyers such as restaurants, bars, hotels, bottle shops and other licensed venues who often have very particular delivery requirements. However, we’ve recognized that the platform and fulfillment infrastructure that we have developed is also well suited to servicing corporates and businesses that purchase in larger volumes as well. Especially as our customer base now includes beer, cider and craft spirits producers as well.”
“We see the push into this segment as an excellent way to provide the producers that we are working with another way to help clear the expected oversupply of inventory stemming from the overnight collapse of the Chinese wine export market.”