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Share Name | Share Symbol | Market | Type |
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SVB Financial Group | NASDAQ:SIVB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 106.04 | 120.00 | 0.01 | 0 | 01:00:00 |
ST. HELENA, Calif., Jan. 18, 2017 /PRNewswire/-- Silicon Valley Bank (SVB) released its annual State of the Wine Industry Report today. The 16th annual State of the Wine Industry report combines SVB's expertise in the U.S. wine business with proprietary research to deliver forecasts and predictions for the year ahead in wine.
Highlights from the 2017 report show strong market conditions overall and identify notable trends that may signal adjustments in consumption patterns and segment prices:
"We foresee a strong year ahead for the wine industry, particularly in the premium wine segment, with small price increases in the $12-25 bottle and luxury wine categories," said Rob McMillan, founder of Silicon Valley Bank's Wine Division and author of the report. "However, critical labor issues will be the dominant concern this year. The reality in the wine business today is that the labor force is inadequate in every growing area, which is leading to increased costs and more incentive to mechanize."
Additional findings and predictions for 2017:
McMillan is discussing the annual report and the state of the wine industry in a live videocast online today at 9:30 a.m. Pacific time with Amy Hoopes, chief marketing officer and executive vice president of global sales at Wente Vineyards, Dan Leese, president of V2 Wine Group, and Paul Mabray, vice president of social media and reputation management at Avero. A replay of the discussion will be available after the event.
Read the full report here: http://www.svb.com/wine-report/
To participate in Silicon Valley Bank's annual Wine Conditions Survey in the future, contact the author Rob McMillan at rmcmillan@svb.com or on Twitter @SVBWine.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Silicon Valley Bank's Wine Division
Founded in 1994, SVB's Wine Division offers financial services and strategic advice to premium vineyards and wineries. With one of the largest banking teams in the country dedicated to the wine industry, SVB's Wine Division has offices in Napa and Sonoma counties and primarily serves clients in the fine wine producing regions along the West Coast of the United States. Learn more at www.svb.com/winedivision
Silicon Valley Bank is a member of SVB Financial Group. ©2017 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of FDIC and Federal Reserve System. SVB>, SVB Financial Group, and Silicon Valley Bank are registered trademarks.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/silicon-valley-bank-predicts-consumers-will-pay-slightly-more-for-us-wine-in-2017-300392480.html
SOURCE Silicon Valley Bank
Copyright 2017 PR Newswire
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