GEER News!!!!
Three more States...
Consumers in Texas, New Hampshire and Rhode Island Can Now Purchase A Wide Variety of High Quality Wines and Wine Accessories Via Toll Free Calling or Over the Internet
CANTON, Mass., Feb. 16 /PRNewswire/ -- Geerlings & Wade, Inc. (Nasdaq: GEER) (www.geerwade.com), moving aggressively to expand its business into new regions of the U.S., today announced it will begin selling high quality wines and wine accessories in three new states: Texas, New Hampshire and Rhode Island.
Recognized as the country's leading direct marketer of wine and wine accessories, Geerlings & Wade's products will now be available to an additional 14 million legal age consumers. When combined with the 23 states that Geerlings & Wade currently serves, the company is now able to legally sell and deliver wines and wine accessories -- through the mail and over the Internet -- to more than 81 percent of the wine-consuming public in America.
Jay Essa, Geerlings & Wade president and chief executive officer, said, "We are excited about the opportunity to sell our products into these three new markets, particularly in Texas which is the fifth largest wine-consuming state in the nation. Our expansion comes at a time when more and more American consumers are choosing to shop with the convenience of toll-free calling or the Internet. Either way, we have simplified the process."
"In addition to ease-of-use and convenience, customers from all 26 states we serve have access to a selection of high quality wines, many of which can not be found on store shelves in individual states. With wine sales increasing and customer preference building for fine wine selections, we believe the company is well positioned for growth. We will immediately begin developing direct mail and electronic commerce campaigns for these new regions and expect volume to build by the fourth quarter of 1999. We are clearly now closer to our goal of reaching, in a legal manner, as many customers as possible on a national basis," added Essa.
Growing Markets
The three new states represent millions of consumers who are enjoying the experience of fine wines. By purchasing from Geerlings & Wade, customers can select from California's premier appellations (Napa Valley, Sonoma, Monterey) and the finest imported wines (Bourgogne Blanc, Vin de Pays d'Oc, Pouilly- Fume, Bordeaux Rouge, Cotes du Rhone-Villages from France, Chardonnay from Australia and Pinot Grigio and Chianti from Italy).
Customers in Texas, New Hampshire and Rhode Island will be able to place orders by early March by calling the Geerlings & Wade Customer Service Center toll-free at 1-800-782-9463, or by accessing the company's website at geerwade.com. The company will soon open a retail facility in Texas to meet liquor licensing laws and will work within that state's guidelines that prohibit sales of alcoholic beverages in certain dry areas. The company will not need to add new facilities in New Hampshire or Rhode Island, as orders from those states will be filled by shipments from other states where Geerlings & Wade warehouses its products.
Other states currently served by Geerlings & Wade include Arizona, California, Colorado, Connecticut, Florida, Idaho, Illinois, Iowa, Louisiana, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New Mexico, New York, Oregon, Ohio, Virginia, Washington, and West Virginia. According to recent statistics, approximately $12 billion worth of wine is sold each year in the U.S. Sales are currently growing at between 4 and 5 percent annually.
This report contains forward-looking statements about the company's business and operations and the Company's future plans and objectives. Forward-looking statements are subject to risks and uncertainties that could cause the actual results to vary materially. These risks are discussed in our 1997 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. |
