We concluded our Annual Company Meeting on Friday, after two days of meetings, presentations, tastings and dinners. It was actually a lot of fun. We have a really good group of people working here right now....in the office, the vineyards, the winery and the field.
We came to a number of conclusions this year....with the most obvious being that the economy really sucks. Most of our presentations were geared to how we were going to get revenue to where it needs to be while cutting back on pretty much everything. We seem to be in a good spot with our pricepoints in the Hummingbird Series. Our Estate and Special Select Wines--unfortuantely it is not a good time to be introducing these to the broad market. With prices of $30 and above, our distributors are very wary, no matter what the quality. But our volumes are such that we can keep these in the Tasting Room and the Wine Club.
We also talked about what is working....and what is not. We have some great Syrah from our Estate Vineyard. We all love it, the critics love it. It just doesn't sell. So we are cutting back on it, selling some juice, selling some grapes. Same story with Rose. I love it. I personally drink 4-5 cases myself in the summer, minimum. It just doesn't sell. I remember a few years ago being in the market around April/May and all anyone can talk about is Rose and how it is the next big thing, Think Pink, RAP, etc. If it is the next big thing, I am just not seeing it. So we will probably be doing away with Rose. It is just so difficult to get distributors to take on additional SKU's in their book. I would rather use that valuable line item with a year round product. Any Rose that is hanging around in October is very difficult to sell.
It is so important to get everyone together at least on an annual basis. We have 4 full time employees that live all around the country in their respective markets. They have their fingers on the pulse of the local market and trends. We need to hear from them and they in turn need to know all that is going on here. And to taste the wines we have coming up.
Good wines that I tasted last week: surprisingly the 2007 Hummingbird Series Merlot ROCKED my world. it was fantastic. And I am not a fan of Merlot. I also liked the 2008 Unoaked ET Chardonnay and the 2007 Biagni Chardonnay were stand-outs in the white category. And, as always, the Viognier. Yumm.
Here is a picture of everyone together. Thanks for a great meeting. I learned a lot....and had some fun doing it.
Top Row: Plamen, Dimitar, Dominic, Ben, Clair, Jason, Paige, Ulises, Kevin, Melanie
Bottom Row: Heike, Linda, Tom, Colleen, Erica, Brenda, Cheryl (Me), Kristin, Bill, Stephen, Cher, Cindy, Matt, Frank
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