wine business

Fine Wine Sales Surge 20% In 2010

by Tim Elliott on January 18, 2011

People enjoying wine at a restaurant

Photo by ZagatBuzz via Flickr

I was pleased to see coverage from both wine industry and mainstream sources today that confirmed that U.S. wine sales in 2010 grew 6% in dollars over 2009. What’s even better is the fine wine segment of $20 and up grew a robust 20%. Sounds like a prediction someone made a year ago.

Money quote from Rob McMillan at Silicon Valley Bank who told the San Francisco Chronicle, “When you look at businesses like Saks and Nordstrom – the luxury retailers – they had a good year. Fine wine falls into that category.”

Let’s hope this encouraging trend continues to build this year.

via Wines & Vines and San Francisco Chronicle