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Market Recap: 2020 By Mark Stock Last month, Silicon Valley Bank broke down some of the major trends of the year within the American wine scene via its annual State of the Wine Industry videocast. The hour-long meeting was the 20th consecutive of its kind and focused on how wine has weathered and adapted to major obstacles like the pandemic and wildfires. The videocast included dialogue from Amy Hoopes of Wente Family Estates, Erik McLaughlin of Metis, Devin Joshua of Merryvale Vineyards and Paul Mabray of Pix.wine. It was moderated by Rob McMillan of Silicon Valley Bank (SVB). Like much of the news from 2020, the report was fairly sobering, but there were also some interesting developments and business adaptations that indicate a resilience in general. Interestingly, the hospitality gut-punch that COVID delivered helped create a much-needed boost. SVB reported an oversupply and discounting in much of the wine realm prior to the pandemic, but by March and April, ....
Todd Fitchette Wine grape growers in California s Central Valley are encouraged to remove significant tracts of vineyards and replace them with more profitable crops to achieve financial sustainability. Economic growth and recovery are expected as coronavirus vaccines and therapeutics gain traction. Was a pandemic-fueled year of business closures aided by a shorter wine grape supply and other factors nobody could have predicted a year ago? Silicon Valley Bank addresses these in its annual report and a two-part webinar. The bank s 20 th annual State of the Wine Industry Report did what it typically does: it looks back at the previous year and projects some likely trends going forward. While nobody was predicting a worldwide pandemic on Jan. 1 and the fallout to come, the report s author, Rob McMillan, executive vice president, did rightly point out some cracks in the industry s foundation a year ago despite a record bull market with no ....
Laurie Jervis: Silicon Valley Bank Predicts Wine Industry Will Recover Post-COVID-19 The 20th annual report details sales as well as the forecast for California and the Central Coast Fiddlestix Vineyard along Santa Rosa Road in the Sta. Rita Hills AVA. (Laurie Jervis / Noozhawk photo) By Laurie Jervis, Noozhawk Columnist | @NoozhawkNews January 16, 2021 | 7:56 p.m. The wine industry in Santa Barbara County and beyond is expected to rebound once the COVID-19 pandemic’s restrictions on tasting are lifted and consumers can once again mingle in groups, according to a new report. Silicon Valley Bank on Wednesday released its annual “State of the Wine Industry Report,” which assesses the California and national wine industry and offers a forecast for the new year based on economic and behavioral trends. ....
The Spill: Cline Cellars brings home two gold medals sonomanews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sonomanews.com Daily Mail and Mail on Sunday newspapers.