SVB: Wine Industry Needs to Cooperate to Grow Demand

Dear Client: Silicon Valley Bank (SVB) released its annual State of the Wine Industry report yesterday, and with it, hosted their live panel giving more candid takes on what industry insiders are seeing.  Overall, the wine industry is generally in the same position it was last year. 2023 was the third consecutive year of declining volumes, down 3%, and sales coming in somewhere between -4% to flat/ slightly positive, noted SVB evp and wine division founder Rob McMillan on yesterday's