Luminar Media Group's Royale de Monte Carlo® Partners with Grapevine Distributors Inc. to Expand Distribution in New York
Rhea-AI Summary
Luminar Media Group's subsidiary, Royale de Monte Carlo, has partnered with Grapevine Distributors to enhance its distribution across New York City. This agreement targets five boroughs: Manhattan, Brooklyn, Long Island, Queens, and The Bronx, tapping into a lucrative market where vodka alone accounted for 39% of distilled spirits sales in New York with over 6.3 million cases consumed in 2021. The global vodka market is projected to grow by over 36%, increasing from $41.25 billion in 2021 to $56.33 billion by 2025. Royale de Monte Carlo has seen liquor store sales double in January 2023 compared to the prior year, indicating strong market presence and growth potential.
Positive
- Royale de Monte Carlo's liquor store sales more than doubled in January 2023 compared to the previous year.
- Partnership with Grapevine Distributors allows for expanded presence in a high-consumption market with over 6.3 million vodka cases sold in New York in 2021.
- The global vodka market is expected to grow by over 36% from 2021 to 2025, presenting significant revenue opportunities.
Negative
- None.
News Market Reaction – LRGR
On the day this news was published, LRGR declined 19.04%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MIAMI, March 15, 2023 /PRNewswire/ -- Luminar Media Group, Inc. (OTC PINK: LRGR) is pleased to announce that it subsidiary Royale de Monte Carlo® "The World's Most Prestigious Vodka®" company has entered into partnership agreement with Grapevine Distributors Inc. ("Vine") as a direct-store-delivery partner ("DSD") to sell, distribute and market Royale de Monte Carlo products throughout five New York City boroughs-Manhattan, Brooklyn, Long Island, Queens and The Bronx.
Grapevine Distributors Inc. has decades of history in New York, where they serve thousands of clients, making them an ideal DSD partner to distribute Royale de Monte Carlo in the region. Vodka was the top distilled spirits subcategory in the state of N.Y. with over 6.3 million cases consumed in 2021, a slight jump from the previous year. Vodka accounted for
From the period of 2021 to 2025 the global vodka market is expected to grow by over 36 percent. The market was valued at 41.25 billion U.S. dollars in 2021 and is expected to reach 56.33 billion dollars by 2025.
"Liquor stores continue to be a strong growth channel for Royale de Monte Carlo® sales. Liquor store sales of our products have more than doubled in January 2023 over the previous year." stated Robert Rico, CEO of Royale de Monte Carlo. "We look forward to our partnership with GV and distribution that will cover Five New York City boroughs with a Population of More Than 8.5 Million. We are extremely excited about the future growth of Royale de Monte Carlo and will continue to seek additional partnerships and future acquisitions that are in line with our business model."
ABOUT: Grapevine Distributors Located in Jackson Heights (the heart of Queens, New York), Grapevine Distributors has been a leading wholesaler and distributor of international wine, liquors, and spirits since 2007. A family business, Grapevine specializes in importing and highlighting products that are typically not yet found in the United States. https://grapevinespirits.com/
ABOUT: Royale de Monte Carlo headquartered in Miami, Florida, is an ultra-premium, icy cool, and deliciously smooth vodka sure to give long lasting euphoric pleasure to any palate it graces. Created and produced by fifth generation master distillers located in the heart of the world-famous Cognac region of France, Royale de Monte Carlo was voted as the "World's Most Prestigious Vodka"TM. https://royaledemontecarlo.com/
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects, that reflect our assumptions and beliefs based on information currently available. The Company can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Investors should refer to the risk factors disclosure outlined in our periodic reports filed from time-to-time with the Securities and Exchange Commission.
Luminar Media Group Investor Relations
Email: info@uminarinc.com,
Website: http://www.luminarinc.com/
Source: https://www.statista.com/forecasts/1138888/global-vodka-market-size
From the period of 2021 to 2025 the global vodka market is expected to grow by over 36 percent. The market was valued at 41.25 billion U.S. dollars in 2021 and is expected to reach 56.33 billion dollars by 2025.
Source https://www.parkstreet.com/beverage-alcohol-sales-trends-in-new-york/
Vodka was the top distilled spirits subcategory in the state with over 6.3 million cases consumed in 2021, a slight jump from the previous year. Vodka accounted for
Half of the top 20 distilled spirits brands in New York were vodka brands and the top brand was Tito's Handmade Vodka, which sold 882,000 cases.
There was a significant increase in retail alcohol sales during the beginning of the pandemic, reaching a plateau in the third quarter of 2020. From March to September 2020, there were 41.9 billion dollars in liquor store sales, representing an increase of 20 percent and 18 percent compared to the same period in 2019 and the previous seven-month period, August to February 2020, respectively.
Luminar Media Group Investor Relations
Email: info@luminarinc.com
Website: http://www.luminarinc.com/
(O) 305 283-9237
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SOURCE Luminar Media Group, Inc.
FAQ
What is the significance of Royale de Monte Carlo's partnership with Grapevine Distributors on March 15, 2023?
How has Royale de Monte Carlo's sales performance changed in early 2023?
What is the projected growth of the global vodka market from 2021 to 2025?
Which New York City boroughs will Royale de Monte Carlo products be distributed to?
What market share did vodka hold in New York's distilled spirits sales in 2021?
