Word: wined
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...number one economic power and it is already full of potential - with lots of population and the buying power increasing by the day. [For LVMH] this is a pioneering country, where we have grown relatively fast with luxury goods and cosmetics, and we are opening new territories for wine and spirits...
...acre in Napa Valley's premium vineyards to between $200,000 and $300,000, up from between $125,000 and $180,000 in 2002, according to Tony Correia, president of Correia-Xavier Inc., a property appraiser in Fresno, Calif. Flush boomers are fueling demand, but their kids are guzzling wine at twice the rate of previous generations. So, by 2010, the U.S. will be drinking 3.8 billion bottles annually, making it the largest wine consumer in the world, predicts Silicon Valley Bank...
There are risks, of course, perhaps the biggest being agricultural. "Your harvest is only as good as God gives you," says Stevens. "Do you get two tons to the acre, or do you get five tons to the acre?" Competitive risk comes via foreign wine sales, which are gaining market share. They accounted for 29.4% of the U.S. wine sales in 2006, up from 27% in 2005, according to Silicon Valley Bank, although much of these gains were in cheaper wines...
...industry, which tends to overproduce, often related to the timing of newly planted vines. New plantings generally take three to five years to bear enough fruit to turn a profit, and demand for a particular grape can dry up in that time. Investors are betting that high-end wine is less susceptible to oversupply, primarily because there are only limited areas in the U.S. and Europe where land and climate conditions are right for growing high-quality grapes...
Even now, it's not all wine and roses. Vintage Wine Trust, a private REIT formed in San Rafael, Calif., in January 2005, is already looking at alternatives to taking the company public. Chief financial officer Tamara Fischer says finding buyout targets and persuading wineries to sell through sale-leasebacks have been tougher than expected. "We thought we'd have $300 million invested in 18 months," she says. "But at 28 months, we only have $165 million...