“We kind of stretch our dollar really far.”
They had sold 18 million bottles of their Graham Norton wine range in the United Kingdom and were earning annual revenue in the $20 million range.
Although two years of tough costs meant underlying earnings had shifted a bit, they said.
Invivo co-founders Rob Cameron (left and Tim Lightbourne (right) with ambassador and shareholder, talk show host Graham Norton.
The Sauvignon Blanc grape price fell 12% and yield fell 27% last year, according to the New Zealand Wine Growers Group and the Ministry for Primary Industries.
AdvertisementAdvertise with NZME.
“You’ve got to weather the ups and the downs, in terms of your own production and what that does to your cost base, weather the global uncertainty of what’s happening out there as well,” Cameron said.
Invivo had raised capital three times via crowdfunding platform Snowball effect.
Its latest round in late 2023 captured $1.6m – at that time it told investors it was targeting annual earnings of around $1m.
Despite a 10% tariff imposed on New Zealand goods entering the United States, they were aiming to increase sales of their premium wine range in collaboration with Sex In The City actress Sarah Jessica Parker.
Head to a Sauvignon Blanc vineyard in Marlborough ahead of this year’s harvest and watch the Invivo co-founders discuss how the wine business works, in today’s episode of Markets with Madison above.
Madison Malone and video producer Ben Dickens travelled to Marlborough with support from Air New Zealand.
Get investment insights from executives and experts on Markets with Madison every Monday and Friday here on the NZ Herald, on YouTube and wherever you get your podcasts.
Sponsored by CMC Markets.
Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.
Madison Malone (nee Reidy) is host and executive producer of the NZ Herald’s investment show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.
AdvertisementAdvertise with NZME.