VWE Sales up 16% in FY, Poised to Become a “Much Larger” Player

Dear Client: Today Vintage Wine Estates (VWE) hosted its first earnings call as a public company. You'll recall, VWE went public as part of its merger with Bespoke Capital Acquisition Corp. (a special purpose acquisition company) earlier this year [see WSD 02-04-2021].VWE reported net revenue growth of 16% to $220.7 million for the fiscal year ended June 30, driven by volume growth and improved mix across segments. Total volumes were up 9%. Breaking it down by segment: Direct-to-consumer (31% of net