Annual domestic gas bills in the UK threaten to rival, in craziness, the price of a box of Bordeaux first growths. Those energy costs have sent the price of almost everything else ripping up after them. Is there, um, anything to be said for cheap wine? There is. First, though, we must sip the bitter harvest of alcohol taxes. These are high in the UK and higher still in Scandinavia, Australia, New Zealand and India; they tend to vary by state in the US and by province in Canada, and in general th ...
The Los Angeles-based company’s stated goal was to ‘make exploring wines fun and easy’ by providing millennials with algorithmic recommendations. It generated $72.1 million in revenue last year, but Winc has never turned a profit, and it has now filed for relief under Chapter 11 of the United States Bankruptcy Code. Unsecured creditors include Facebook and Instagram owner Meta and artificial intelligence firm Impact Tech. The filing states that Winc has ‘entered into a confidential, non-binding ...
Cofounded by Xavier Garambois, the former vice-president of EU retail at Amazon, Winechain.co is set to go live by the end of this year with its first ‘wiNeFT’ offering – its term for a fine wine linked to a non-fungible token (NFT). There has been a growing amount of innovation around NFTs in the wine world, from limited-edition winery offers to the ways in which blockchain technology could provide a digital guarantee of ownership history. Winechain said its goal is ‘to build dy ...
