The U.S. wine market, which has generated nearly $64 billion in sales, is expected to experience a compounded annual growth rate of almost 7% by 2030.
Even so, securing financing to grow can be hard for wine business owners, and more so for people of color. But a new effort by the Association of African American Vintners (AAAV) hopes to change that.
In the first quarter of 2023 the association will award $5,000 grants to five Black-owned, AAAV-member businesses to help augment their operations, marketing, or innovation efforts. Based on a report by the Wine Industry Advisor, backing for the program is occurring now, led by a $5,000 grant from the H-E-B grocery chain. Applicants must be existing AAAV members at the grower, vintner or negociant (wine merchant) level.
Recent Comments