Source: Algodon Wines & Luxury Development Group
NEW YORK, May 23, 2018 (GLOBE NEWSWIRE) -- Algodon Wines & Luxury Development Group, Inc. (OTCQB:VINO), a collection of luxury assets, real estate holdings and premium wines in Argentina, has fulfilled a restocking order for its portfolio of award-winning Malbec wines from its partner and East Coast distributor, Sherry-Lehmann Wine & Spirits, based on the success of its initial purchase order in 2017.
Sherry-Lehmann, established in 1934 and celebrating its 83rd year in business, showcases Algodon’s Malbec and Bonarda wines at its marquee store located at 505 Park Avenue at 59th Street in New York City. The Sherry-Lehmann store combines old-world charm with modern sophistication, and caters to seasoned wine lovers and beginners alike. They are renowned for a deep stock of fine wine and spirits from across the globe, helpful, knowledgeable staff, and an award-winning website. Algodon Fine Wines are available for sale in Sherry-Lehmann’s Marquee Park Ave store as well as through the Sherry-Lehmann online shop.
In conjunction with the recent success at Sherry-Lehmann, Algodon Group will host a dinner and wine event for its stockholders and partners to celebrate this historic sales milestone. The event will be held at Aretsky’s Patroon (160 E 46th Street, New York) on June 6, 2018 at 6:30 p.m. Eastern time. To RSVP, please contact Chris Tyson at (949) 491-8235 or email your request to email@example.com.
“We are proud to announce that our partner Sherry-Lehmann has placed a restocking order for Algodon fine wines after swiftly selling out of its initial shipment,” said Scott Mathis, Algodon’s Founder, Chairman and CEO. “This success was made possible through the hard work of the entire Algodon Fine Wines team, whose passion for wine has positioned us as a leading producer of Argentine wines. We look forward to continuing to serve Sherry-Lehmann, alongside the rest of our esteemed distributors, as they continue to grow their sales of Algodon fine wines.”
“We are pleased to report that Algodon’s portfolio of fine wines has been a popular choice among our highly-selective client base,” said Chris Adams, Chairman and CEO of Sherry-Lehmann. “Our partnership with Algodon has been profitable for all parties and we look forward to continued cooperation and growth.”
“Our entire team is so pleased to see Algodon Fine Wines continuing to garner high praise for their core Malbec and Malbec blend varietal wines, as well as their other red varietals and blends,” said James Galtieri, Seaview Import’s president and CEO. “Of course, it’s very exciting to see this reflected directly in sales and demand for Algodon Wines. We feel privileged to represent the award-winning wines from Algodon, and are enthusiastic about Algodon’s future potential in the U.S. market."
Algodon Fine Wines, founded in 2007, is one of the most exciting and dynamic wine brands emerging from Argentina. Located in San Rafael, Mendoza, in the beautiful foothills of the Sierra Pintadas, Algodon produces a full range of premium wines from land holdings that include noted parcels of pre-phylloxera vineyards dating back to the 1940s. Over 325 acres of vines go back as far as 1946 and produce exceptional fruit on sandy and clay loam.
Algodon Fine Wines are handcrafted by the brilliant winemaker, Mauro Nosenzo, and advised by Master of Wine, Anthony Foster. Algodon’s goal is to produce premium wines utilizing ecofriendly, organic inspired approaches, combined with the best modern winemaking technology. Algodon recently appointed Seaview Imports as its sole U.S. agent and importer of Algodon's complete portfolio of fine wines produced in the San Rafael, Mendoza wine region of Argentina.
Algodon's premium wines have received a number of top awards and ratings from the world’s foremost tasting competitions. On October 19, 2016, Algodon was awarded a gold medal in the Global Malbec Masters 2016 Wine Competition for its 2012 Black Label Malbec, a competition comprised of Masters of Wine & Master Sommeliers. Algodon’s Black Label Reserve Wines represent the best from Algodon Fine Wines, selected from 70 year old vines, micro-vinified (small batch vinification) and matured in French oak.
In addition to over 330 points of sale throughout Argentina, Algodon Fine Wines are also distributed in Germany, Switzerland, Guernsey, U.K., the Netherlands and the United States.
In conjunction with the restocking of Algodon Fine Wines with Sherry-Lehmann, Algodon Group will be offering shareholders of record a 25% discount on all Algodon Fine Wine purchases through the Sherry-Lehmann on-line wine shop, utilizing PROMO CODE: VINO1234. For more information and to pre-order your favorite Algodon Fine Wines, please click here.
About Sherry-Lehmann Wine & Spirits
Founded in 1934, Sherry-Lehmann is located in the heart of Manhattan, at 505 Park Avenue. The Sherry-Lehmann store combines old-world charm with modern sophistication, and caters to seasoned wine lovers and beginners alike. Renowned for its deep stock of fine wine and spirits from across the globe, it's helpful, knowledgeable staff, and award-winning website, Sherry-Lehmann is committed to delivering an incomparable level of customer service. Entering its 83rd year of business, Sherry-Lehmann's dedication has earned many awards, including: "Retailer of the Year" (The Wine Enthusiast), "New York's #1 Wine Shop" (Zagat), and the "#1 Wine Shop in America" (Forbes). Visit www.Sherry-Lehmann.com for more information.
About Algodon Wines & Luxury Development Group (Algodon Group)
Algodon Group's mission is to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. By utilizing our proprietary collection of wine, hospitality, fashion brands, and real estate holdings as a foundation, we seek to expand our wide range of assets with the goal of becoming the "LVMH" of Argentina and greater South America. In building our luxury brand ALGODON®, one of prestige, distinction and elegance, we begin with a focus on the quality and reputation of our award-wining wines. Algodon Wines ultimately serve as our ambassador, as we then identify and develop vineyard operations, luxury lifestyle properties, and other real estate assets and opportunities. Our company has a passion for seeking outstanding opportunities, with the potential for growth, in spectacular settings. As we continue to produce the ultra-fine wines for which we have become recognized, we expect that our reputation for quality will only continue to grow and accordingly increase the value of our company's brand and real estate holdings. Algodon's non-leveraged, luxury assets serve as our mainstay and are currently concentrated in Argentina, which we believe represents one of the most undervalued investment sectors in the world today. For more information, please visit www.algodongroup.com.
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Director of Marketing
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Algodon Wines & Luxury Development Group (Algodon Group) and its respective subsidiaries ("the Company") estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date set forth above. The Company undertakes no obligation to update publicly any forward-looking statement, whether because of new information, future events or otherwise.
Eric Stear, Corporate Communications & Marketing Manager