Executive Bio
Fred Reno
Former CEO of The Henry Wine Group
In Practise Notes
- Franchise laws seem archaic and are protecting the distributors at the expense of smaller wineries.
- Distributor consolidation.
- Distributors' gross margin has increased from 25% to 30% driven by consolidation on the supplier side and at second tier.
- There is a huge long tail of wineries selling <50k cases
- Competitive advantage for large suppliers such as LVMH or Diageo
- Distributor lobbying power
- Distributors have less capacity to 'work with' the brands to market products to end accounts
- History of Southern Glazers..
- US DTC regulation from the Granholm case
- The biggest threat to distributors comes from retailers selling DTC, not wineries
Interview Transcript
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Audio
A History of US Wine & Spirits Distribution(September 7, 2021)
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