You have probably already heard the stories or seen the pics of Jay-Z and Beyoncé pouring large bottles of Champagne into...
Altaneve’s deadline was May 1, 2018
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Since 2013 Prosecco has been the most popular sparkling wine in the $62B wine industry in the U.S. ($304B globally). Prosecco sales have doubled to 600M bottles globally in the last 4 years while Champagne sales have remained almost flat. Prosecco sales are projected to explode over the next 10+ years as customers choose Prosecco over Champagne or other sparkling wines.
Prosecco exported outside of Italy tends to be low to medium quality
Major brands focus on price point, and not on high quality production and branding
Prosecco sales have exploded, and there are no high-visibility, high-quality brands - Altaneve is positioned to be the Number One recognized brand in the growing Prosecco market
Our initial goal was to produce the highest quality Prosecco in the world. Along the way, we realized we could become the Go-To brand for all Italian sparkling wine, and include sparkling rosé and sparkling red (future line extension) to become “The Ultimate Italian Sparkling Wine” brand..
Currently, no other Italian wine brand strives to fill this “highest quality sparkling wine” niche.
Altaneve means “high snow” in Italian, alluding to the snow-capped Dolomite Mountains whose peaks can be seen above the steep vineyards in Valdobbiadene, where the best Prosecco has been produced for over 1000 years. These hills create a temperate microclimate that lends a special character to the grapes to make our wines unique.
The Altaneve brand represents tradition and invention that incorporates centuries of heritage. Multi-generational agronomists and winemakers monitor the entire Altaneve wine making process to guarantee taste and composition from vine to bottle.
Altaneve produces the highest quality sparkling wines that are elegant and refined, offering a crisp character and unique, floral aromas and balanced acidity that are complex yet approachable.
The Prosecco category is on fire and the media is looking for “the best.” Thankfully, Altaneve has been recognized with fantastic coverage on Fox News, Bloomberg TV, Good Day NY, Forbes, Wine Spectator and several other notable media outlets.
Here are some quotes:
Altaneve has over 250 high-end restaurant and store clients
Since its U.S. launch in 2013, Altaneve has garnered significant attention in the most influential and wealthiest markets of the United States with over 250 restaurant and store locations in NY, NJ, CT, NV and CA.
Listed below are some of our more notable accounts — we urge you to visit them and ask for Altaneve:
(*2015 experienced only modest growth as Altaneve transitioned to a new distribution partner.)
Altaneve creates a unique high quality category in the sparkling wine market by offering a product that bridges the gap between the present selection of lower end brands of Prosecco and sparkling wines ($9-$20/bottle in USD) and Champagne ($40+/bottle in USD) sold in the U.S.. We are targeting the untapped $20 price gap, that currently represents $20B in annual U.S. sales.
With this pricing strategy, Altaneve is strategically positioned to capitalize on the vast profit potential of the Ultra-Premium priced, high-end sparkling wines.
Prosecco sales have doubled in the past 4 years leading to imminent market segmentation
The U.S is the largest global wine and spirits market, valued at $62B U.S. or 20% of the global market. Wine consumption in the U.S. market has grown at a steady 1%~3% over the past 10 years with steady predicted growth for the next decade. The key category driving this growth is Sparkling Wine with growth of over 20% from 2007-2014 and growth of 11.7% in 2015 – sparkling wine consumption has grown twice as fast as that of still wine.
The growth in the U.S. sparkling wine category is largely driven by Prosecco, which has outpaced Champagne in sales volume since 2011. Prosecco represents over 45% of the sparkling wine growth by volume, with incredible growth over the past 12 years:
- 61% growth in 2010, - 34% growth in 2014,
- 77% growth in 2011, - 23% growth in 2015,
- 35% growth in 2012, - 36% growth in 2016.
- 27% growth in 2013,
U.S. Prosecco Consumption
Altaneve strategically slots in at the $29 USD positioning
Historically, with the growth of any product offering, the market segments to include differing price/quality offerings, and there is a considerable, unrealized opportunity in the Ultra-Premium/Luxury segment for price-point and quality that a high-end, well-marketed Prosecco can capture to expand the market further:
Average retail price of 750ml Prosecco: $11.78 USD.
Average retail price of 750ml Champagne is >$45 USD.
90% of available Proseccos in U.S. are <$18 USD.
There is a noticeable gap in the sparkling wine category between $20 and $40 USD (see Suggested Retail Price image above).
The opportunity to present an Ultra-Premium/high-end Prosecco is highly profitable as the largest percentage growth in the wine industry is in wines over $15 USD per bottle. The drivers for the growth in higher-priced wines is demographic-based:
From the chart above, we can graphically see that approximately ⅓ of yearly wines sales in the U.S., valued at $20B, is almost completely neglected by the sparkling wine category.
Close to 1/3 of each demographics’ yearly wine purchases are in the $20-$39 range, where there are few, if any, sparkling wine options (see Wine Sales by Age Group image below).
Generation X, Boomers and Mature demographic are motivated by quality and luxury, typically reflected in the higher priced wines (>$15 USD), which they are able to afford due to their greater net worth.
Millennials, although representing a lower median net worth, prize well-marketed, high-end brands, and 51% of them are core drinkers (drink at least once per week).
Millennials are drinking more Prosecco than any other demographic...and they are the drinkers of tomorrow that are happy to spend more money for better quality, branded products (they already represent almost 2/3 of Altaneve’s customers).
In 2017, Prosecco growth has doubled to 600M bottles/year in less than 4 years...
Altaneve is in the perfect position to lead this market!
200+ Prosecco brands sold in U.S.
3 brands currently corner over 50% of market.
Average retail price of 750ml Prosecco: $11.78 USD.
Majority of Proseccos cost between $10-$16 = low-mid tier quality
Low prices result in low margins, which allow for little brand-specific marketing
Little marketing results in little brand knowledge and low brand loyalty
On track to double sales in 2018
Altaneve has a notable head start, and we are vetting distributors to dramatically increase our presence in the U.S. by the end of 2018.
•Increasing production of Prosecco and Sparkling Rosé
•Increasing distribution in current and new states
•Increasing Altaneve sales team
•Increasing digital marketing
Raised by an engineer and a lawyer, David Noto initially chose the engineering path, but has since turned to his passion in wine, and maybe by destiny, also returned to his ancestral roots in winemaking.
In his past life, David was a published mechanical engineer, an award-winning website designer, a management consultant (at Ernst & Young, Cap Gemini & Accenture) and a seasoned finance technology manager (at Citi Alternative Investments & Citi Capital Advisors). And during his consulting years, David took time off from corporate life to do a 3-year stint as the Executive Director of GRI, an association of the best Italian restaurants in the U.S., and as the Vice President of the Federation of Italian Chefs.
During his last job at Citi Capital Advisors, David attended Columbia Business School for his MBA, during which time, he chose a different path altogether and founded Altaneve wine company, following over 10 generations of winemakers in his lineage.
Fluent in English and Italian, David grew up in New York, Puerto Rico, Ireland, France and Italy.
The maximum valuation at which your investment converts
into equity shares or cash.
If a trigger event for Altaneve occurs, the discount provision
gives investors equity shares (or equal value in cash) at a reduced price.
The smallest investment amount
that Altaneve is accepting.
$25K – $1.07M
Altaneve needs to raise
$25K before the deadline.
The maximum amount Altaneve
is willing to raise is
I tasted the product in Sag Harbor last year and thought it was quite good. I love Italian wines and don't think they get their due in the US market. Would love to help promote this company, and Italian wines in general.
I believe Altaneve will provide a popular alternative beverage for the mid to upper economic level individuals and be served as an alternative to lite beers at bars, restaurants and parties.
I trust David, and I have seen this project come to life since the very early days.
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