Brand acquisition and management firm Full Glass Wine Co. just announced two significant milestones: the successful closing of their Series A funding round for $14 million, led by Shea Ventures, and the strategic acquisition of Bright Cellars, a leading subscription-based wine service.
“This Series A funding and the acquisition of Bright Cellars are significant milestones for our growth, putting us on track for a projected $100 million+ revenue run rate in 2024,” says Full Glass Wine Co-Founder and COO Neha Kumar. “We are thrilled to welcome Bright Cellars to the Full Glass Wine Co. family and are excited about the opportunities this addition presents to enhance the customer experience and strengthen our market presence. We believe that everyone deserves to discover and enjoy wines they truly love.”
Expanding Subscription-based Models with Bright Cellars
Full Glass Wine Co-founder and CEO, Louis Amoroso, is a three-decade veteran and pioneer in the DTC beverage industry. Amoroso founded wine and beer direct marketing company, Beverage Solutions, in 1991, and has since played a pivotal role in shaping the DTC landscape as he oversees the growth of multiple successful wine businesses, according to the company.
The capital will fuel the company’s multi-brand platform vision, complementing its existing portfolio of players in the DTC wine market, including Winc and Wine Insiders. By acquiring Bright Cellars, Full Glass Wine expands its subscription-based models, while Winc and Wine Insiders cater to different purchase preferences and price points, the company states. The diverse portfolio allows Full Glass Wine to provide a broader range of consumer needs and preferences.
Is DTC Still Alive?
Even with recent news of Drizly shutting down, Amoroso still does not buy into the death of DTC. “The D2C alcohol market continues to hold significant potential, despite the closure of Drizly,” he says. “Consumer buying habits have shifted towards curation, convenience, value, and personalization, which D2C platforms excel at.”
While logistics can be complex, Amoroso believes the ability to control the customer experience from selection to delivery is a major advantage. By focusing on curated selections, personalized recommendations, and exceptional customer service, Full Glass Wine is better able to stand out in the marketplace.
Using Personalization to Boost Brand Awareness
The wine sector has seen very little – if any – growth the past few years. Volume sales for wine declined by 3% in the United States last year, the third consecutive drop for the industry. Prior, sales have been close to flat since as far back as 2016, only enjoying a single-year jolt in 2020 when Americans were stuck at home during the pandemic.
Amoroso isn’t letting negative sales impact his plans for Full Glass Wine. “The acquisition of Bright Cellars is a strategic move that strengthens our position in several ways,” he explains. “Firstly, it broadens our customer base by catering to the ‘discovery-driven’ segment that Bright Cellars excels at. Secondly, its innovative personalization algorithm allows us to refine recommendations across all our brands, further enhancing the customer experience. Finally, Bright Cellars brings a loyal customer base that we can welcome into the Full Glass Wine family, creating a win-win situation for both companies.”
Amoroso also has exciting plans for 2024 to help bring his vision to life and continue boosting brand awareness.
“We’re all about connecting with wine lovers and helping them discover new favorites from our family of brands,” he says. “We’re focusing on making the whole experience smooth and enjoyable, from finding the perfect bottle to getting it delivered to your doorstep. We’re building a robust marketing plan to deliver targeted campaigns across our brands. We want to bring back the fun and excitement of exploring the world of wine – there’s so much to discover!”
