XChateau Wine Podcast Robert Vernick, Peter Yeung

As the 26th generation family member to run Marchesi Antinori, Alessia Antinori, VP and Winemaker, knows the benefits of being a family-owned business, particularly around transmitting family values from generation to generation. These insights and values are shared as members of an elite group of family-owned wineries, the Primum Familae Vini. Alessia digs into the structure of the PFV, its purpose, and its activities to promote family businesses globally. 
Detailed Show Notes: 
Antinori Family - started in wine in 1385 as wine merchants in Florence and became a producer in the Chianti Classico region
Alessia is part of the 26th generation, the 27th generation also in the companyFather was part of the important 25th generation - in the 60s/70s changed towards a quality mindset vs. quantity focus for most of Italy, e.g., launched Tignanello (1st Super Tuscan)“Blending tradition and innovation”Family members are not obliged to join the company but grow up around the wineryPrimum Familiae Vini (“PFV”)
Founded in 1993 by Joseph Drouhin and Miguel Torres wineriesCurrent members include Vega Sicilia, Pol Roger, Chateau Mouton12 members, family-owned, old world (the exception was Opus One w/ Mondavis and Mouton Rothschild)When a family sells, a new winery is invited, often from a missing region (e.g., Jaboulet replaced by Beaucastel to keep a Rhone producer), look for high quality, shared values, and families get along (including children)Exchange one case of wine with each other every ChristmasFamily businesses are important to: 
Transmit values from generation to generation (e.g., for Antinori - passion, integrity, obsession for quality)Can make decisions for future generations (long-term mindset)Two committees in the PFV - marketing & technical
Meet 3-4x / year virtually or in personMeet at least 2x/year (1 annual meeting - 2024 in Oregon hosted by Drouhins)Annual Meeting
Up to 100 people, several generations per familyBusiness meetings, lunches, dinnersEach year, a different family hosts an event and then becomes President of PFV for the following yearTopics - technical (Torres often has good topics), issues in family businesses, sales, legal issues, future PFV planningMostly, internal PFV presentersPromotion/marketing events
2024 - after Oregon hosted a press tasting in NapaUsually, press, charity, or walk-around tastingsPFV Family Prize - “the most beautiful company of the year”
Family-owned businesses, not only wine, must have 3 generations working in the businessReceive financial and market support/cross-promotion1st year was a Belgian violin companyGiven every two yearsDo an event together with the press to present the awardPFV is funded by an annual fee from members
Collector Cases
Haute Couture case - 1 back vintage, iconic wine from each winery, only for charity, includes the PFV Passport, which is an invitation to visit each winery with lunch or dinner with a family member (many wineries closed to the public)Limited Edition case - 1 recent vintage wine for each winery can buy for €25kAdvice for other family wine businesses - be very passionate about the work, be curious and passionate

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With 100+ years of history, many accolades, and distinctive mountain-grown sparkling wines, Ferrari Trento is still often confused with the car maker Ferrari. Matteo Lunelli, President and CEO, explains how Ferrari Trento leverages partnerships, including Formula 1, The Emmys, and others, to tell its story and grow its audience globally.  
Detailed Show Notes: 
Ferrari Trento overview
Founded in 1902 by Giulio Ferrari1952 - Bruno Lunelli (Matteo’s grandfather) acquired the wineryTrento DOC in NE Italy, in the middle of the Alps, famous for the Dolomite mountainsA leading brand for luxury sparkling wine in ItalyMethodo Classico - 2nd fermentation in the bottleMainly Chardonnay, Pinot NoirMountain sparkling wine - gets sunlight, but big diurnal shift to keep acidityPioneer of Trento DOC, started denomination, now 60 wineriesWon Sparkling Producer of the Year several timesAll estate vineyards are certified organic, winery carbon neutralIl Ferrari (masculine, the wine) vs La Ferrari (feminine, the car); separate companies, no familial relation
Formula 1 (“F1”) partnership - “Official Toast of F1”
Started as a dream, Matteo passionate about F1A team member who used to work at Heineken, which sponsored F1, started the conversation in 2019Share common values of search for excellence, tradition, and innovationStarted in April 2021Jeroboam used to celebrate wins on the podium, served in Paddock Club (hospitality)F1 exploded with Drive to Survive movie on NetflixNew races started in Miami and Las VegasFormerly used Champagne, 1st Italian wine used to celebrateROI is measured by growth in international sales (US sales 3x, TX 10x, Las Vegas huge growth since 2020), increased attention from key international accountsKey benefits of F1 partnership: 
Visibility - social media key, particularly pics with drivers showing bottles during the celebration (easier to do for sparkling wine)Paddock Club - >5,000 guests in Las Vegas, serves fine dining during race weekends, high-end clientele experience Ferrari Trento, fine dining, and F1Create customer experiences - invite some customers to F1Race weekend activations - organize and partner with events around the race weekend, replaced prior market workBest article - Financial Times “Why there will always be a Ferrari on the podium of F1”F1 label series - limited, special editions
Big interest in Jeroboams, celebrate like F1 championsF1 Editions - dedicated to some of the iconic Grand Prix, the shape of the racetrack on the label, very successful in race markets (e.g., Suzuka in Japan had a long time to buy wine)Creates a collectible wineEmmy Awards sponsorship
Ended w/ Covid, sponsored for ~5 yearsServed at Governor’s Ball just after the show, ~5k guests, black tie in LAHelped in the CA market and positioned Ferrari as a lifestyle brandTimed well w/the rise of importance of TV (e.g., Netflix/streaming movement)Only 1x/year vs 20 races/year w/ F11st non-Champagne organized blind tastings w/ prior sponsorsCreating value w/ partnerships requires activation and communication; the rule of thumb is to invest at least 1x sponsorship fee in activations
Mass market partnerships like F1 benefit Non-Vintage more than vintage/reserve wines
Vintage/reserve wines sold mostly to collectors, highly limited supply (only 60k bottles of Giulio Ferrari/year), and need different communication channels Get access to library episodes
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With 88% of their wine exported, 93% of which is white, white wine is a big deal for New Zealand. Charlotte Read, General Manager of Brand for New Zealand Winegrowers, explains how they have been focused on promoting white wine globally. This includes campaigning for a white wine emoji, focusing on the the month of May with Sauvignon Blanc, Pinot Gris, and Chardonnay days, and focusing on their motto - “NZ wine, all together unique.”
Detailed Show Notes: 
Charlotte’s background - dairy industry, lived in Asia and the UK, in wine for the last 20 years
NZ Winegrowers
Est 2002,1,400 members (50% wineries, 50% growers)Only unified winemaking and grape-growing organizationFunded by compulsory leviesMission: to enhance the reputation of NZ wine5 key workstreams: Brand, Environment, Efficacy, Research, PeopleTagline - “NZ wine, all together unique”
Supports the 10 wine regions
NZ exports 88% of their wine to 100 countries
Top markets - US (~40% of exports), UK, Australia
Focus markets - Canada, China
Focused on white wine (93% of exports) for May - 3 events, Sauvignon Blanc Day, Pinot Gris Day, and Chardonnay Day
White wine emoji - leading a campaign over the last few years to have this implemented
Kendall Jackson previously campaigned for itChanged the glass shape to focus on white winesGotten great pressReached >20M people in 2022, 79M in 2023NZ has significant wine diversity - >50 grape varieties planted, SB #1, Pinot Gris, Pinot Noir (largest red, 3% of exports)
NZ wine style - purity of fruit, backbone of acidity
Marketing metrics used - estimated advertising value, reach and engagement, social media engagement, toolkit downloads
Lighter Wine Research Project - 7 years, $16M project w/ 18 wineries and government, led to the early launch of no and low alcohol wines (e.g., Giesen 0%, Kim Crawford Illuminate)
Overall, wine imports to the US are down, but NZ has outpaced the market; premium price ($15+) grew 15% in 2023
Targeting a group of “Generation Treaters” (mostly Millennials) - 1/10 of drinkers, but ⅕ of spend
Can cross-promote white wines - 63% of SB drinkers drink Pinot Gris, 67% of SB drinkers drink Chardonnay
NZ as innovators - moved to screw caps early (early 2000s), fast adopter of concrete eggs, experimenting with green tea as a preservative, no alcohol wine residual alcohol used for gin
Highest impact marketing - influencing the influencer (e.g., a WSET partner, work with Sommelier associations)
Major events
Has a booth at ProWein and Vinexpo Hong KongHosts International Sauvignon Blanc Conference every 4 years (2027)Hosts Pinot Noir Conference in between (Feb 2025)Sommit - summit for sommeliers, a master class settingTrends to watch
Sustainability (NZ has 96% of vineyards certified sustainable)Packaging innovationGrowing wine tourism Get access to library episodes
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With insurance costs skyrocketing, having a good understanding of the types and amount of coverage needed for wineries and vineyards is becoming essential. As a broker for Country Financial, as well as the host of the Wine Crush Podcast, Heidi Moore describes what is necessary vs. optional for winery insurance and the changes happening in the industry. 
Detailed Show Notes: 
Insurance trends - very volatile now, Covid supply chain issues, wildfires / other natural disasters
Rates are soaring
FL/CA - natural disasters happening more, impacting insurance
If >5 mi from a fire station, insurance premiums can be double
Winery insurance is a niche market, so it is better to have expertise
Leakage & contamination are a big issue - often wineries do not have enough coverageGeneral liability and liquor liability are base levels of coverageRest is optional - a winery should look at what will break the business if it happensPremiums based on gross sales, inventory, and assets (e.g., buildings, barrels)Range of costs - small wineries ($1,500-2,000/year), larger wineries ($50-60k/year)CA - many companies have stopped writing business
Sometimes, there is state coverage for catastrophe-only coverage
Insurers often value inventory based on “final destination” (e.g., DTC vs. wholesale)
A wine library with increasing value should be looked at annually to see if coverage needs to be adjusted
Vineyard insurance is different from winery
Farm policy for an agricultural commodity (e.g., for runaway tractors)Crop insurance, which is federally subsidized, covers annual crop value and covers against smoke taint, fire, etc…; often can insure at different value levels of the cropCan buy specific coverage for vines and equipment in vineyardsClimate change mostly impacts crop insurance vs farm policyBase level of insurance needed for winery w/ vineyard
Winery policy - covers tasting room, production, buildings, the commercial businessFarm policy - covers vineyard, buildings, farming operation, home autosDepending on assets - umbrella policy to cover assets (e.g., drunk driving accidents are expensive)When to stop buying insurance?  Need a good agent who is your advocate
Value of a broker vs. direct from the insurer - can provide different options of insurance, the downside is they do not know policies as deeply
Wine Crush Podcast
Share stories of winemakers, encourage people who do not drink wine regularly to try itMostly OR wineries, expanding to WA, IDKey trends for wine insurance - circling in on natural disasters and how they affect policies

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With 27 years of research on the US wine consumer, the non-profit  Wine Market Council is a critical industry resource. Liz Thach MW, the new President, dives into their most recent research on which wine consumers are buying, why, and how they buy. Members can get even deeper insight and access to the industry’s most robust database on US wine consumers. 
Detailed Show Notes: 
Wine Market Council (“WMC”) - non-profit, formed in 1996
Mission - provide cutting-edge research on the US wine consumer purchasing habits, trends, and attitudesMembers use WMC data for marketing and brand strategiesUS wine sales
From 1934 - today - there have been several declines in consumptionThe last decline - 1990s - showed similar factors, increased anti-alcohol groups, large excise taxes; catalysts to growth (French Paradox, introduction of new products - e.g., White Zinfandel, wine spritzers, Merlot getting popular)Growth for 20+ years from the late 1990s, peaking during Covid2022 - decline in volume sales, 2023 - decline in volume (-9%) and $ salesWMC does a benchmark segmentation study of wine consumers every 2 years
Has done 19 over 27 years, the largest database of wine consumer trendsBoomers - drinking less (61% cutting alcohol, faster than expected)Millennials - finally coming to wine, took until they were in their 30s (have children, bought homes, settled down, more financially stable); spend more on wine (often $20+)Gen Z (oldest is 26) - had high wine adoption initially, but in the last 3 years, it has declined (“cool to be sober”); 9% of Gen Z drinks wine, though only 33% are of legal drinking age; concerned about transparency of products (saw food scares, recalls), climate, and social equityWine drinkers are 60% married, 71% own homes, 53% live in suburbs
Ethnicity diversification making progress
By 2050, the majority of the US will be non-whiteToday’s wine drinkers are 66% White (vs. 77-78% in the past), 15% Hispanic, 11% Black, and 5% AsianSignificant progress with Blacks and Asians, but less with Hispanics, which are the fastest growing population in the USCeja an example of a successful Hispanic owned winery, links wine and Hispanic cuisine and been successfulOther ways to enhance diversity - ads that look like “us,” diversity in the workforce, pop up events where the consumer is (e.g., a Mexican wine importer did pop-ups at Hispanic events with taco trucks)Premiumization is still happening, people drinking less, but better
$20+/bottle drinkers are now ~7-15% of the total US populationYounger people (21-30) purchasing more high-end wineBoomers dropping buying more expensive winesWhere people buy wine
SupermarketsWine shopsOnline now 12% vs. 5% pre-Covid29% buy on their phone93% of wine consumers on social media
#1 Facebook (Boomers)YouTube - 61% useInstagram - 55%TikTok - 40% (wineries can’t advertise, but influencers can post)X/Twitter - went from #2 to #6Wine apps - 17%2024 trends
Anti-alcohol movement Talking about the benefits of wine (illegal for alcohol brands to discuss health) - WMC launched a social campaign called “Wine is…” (e.g., wine cocktails, family dinners…)Transparency/ingredient labeling (e.g., 50% of Americans believe wine has added sugar)Low / no alcohol movement - 40% of wine drinkers drinking less (of those, 40% drink non-alc spirits/cocktails, 35% NA beer, 34% NA wine)RTDs / single serving sizes Get access to library episodes
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Having gotten bitten by the wine bug young and with deep wine retail experience, Devon Magee, founder of Offshore Wines, decided to start a small wine importer. Inspired by Kermit Lynch, Offshore focuses on small, artisanal brands making high quality, yet affordable wines. Devon shares how he bootstrapped the company and is finding his way as an importer. 
Detailed Show Notes: 
Background - mostly wine retail, did harvests in France (Vieux Telegraph, Chandon de Brialles in Burgundy - 2012-2014)
Inspired by Kermit Lynch, he was interested in writingOffshore Wines Portfolio
Christian Knott of Chandon de Brialles started a new project, Domaine Dandelion, and asked him to import them2017 - 1st shipment - 4 cases of Domaine Dandelion, 20 cases of Champagne Charles Dufour15-20 producers nowGoal: find high-quality wines made in an artisanal way from lesser appellations that are “affordable”“Affordable” = $30-100 in US retailStarting an import business
He did it on his own, with no lawyers~2 months to get a license, ~$1-2k in feesNeed a licensed warehouse to receive wines (uses CA Wine Transport)Self-financed 1st shipmentCash flow is challenging
2-3 months for wines to land in warehouse (from France)Restaurants/retailers get 30 days termsPayment to wineries varies - most ~60-day terms from shipment, while others want payment upon shipment or 50/50 terms (upfront and on delivery)Lifestyle is fun, traveling and visiting rural areas
Choosing winery partners - a lot is timing, being at the right place, getting to know communities, and very relationship-based; most wineries are referrals from existing relationships
Offshore differentiation - speaks the winemaker’s language (French, Spanish), worked production, and is building deep personal relationships
Wineries are exclusive to CA, and only market Offshore works, though they sell to a small distributor in COFocus on small producers precludes needing to be in all 50 statesOptimal portfolio size ~25 wineries to be able to respond and represent wineries wellGets wine out for people to taste them, prefers personal connections over social mediaShares other aspects of what people are doing (e.g., got and gave away bags of coffee from a producer experimenting w/ carbonic coffee bean ferments, giving away sweatshirts from Domaine Hausherr with an artistic word game on the back)Devon is the only salesperson now, and he would ideally like 1-2 salespeople
Other salespeople have opened doors for him to help himBuilding small brands
Many people struggle with name pronunciation He tries to share wines, stories, and pictures of brandsHe doesn’t agree with the need for scores and tasting notes; he uses email to share stories, wants to publish a newsletter eventuallyThe new style of wine writing can help small brands - e.g., Alice Feiring, Ray Isle’s new bookAdvice for others - be able to sell the wines
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