As Wine Investments Soar in European Markets, Leading London Wine Investment Firm Expects Rapid Fourth Quarter Expansion in US
OenoGroup projects U.S. market to quadruple in size by year's end and plans for new U.S. headquarters in Miami by 2022
LONDON, July 14, 2021 (Newswire.com) - A steady increase in fine wine investments following the depths of the COVID-19 pandemic has allowed European investors to enjoy remarkable successes, and now the North American market is poised for similar growth, leading wine investment firm OenoGroup announced today.
On the heels of this week's opening of OenoHouse, a welcoming and intimate space dedicated to experiencing the world's finest wines in the heart of London, OenoGroup is now turning its attention to the United States, where market analyses project a quadrupling in the market growth by the end of 2021. To handle its projected expansion, OenoGroup also announced plans to relocate its New York office to Miami by early 2022 where the company can have a larger team in place with a dedicated space to introduce clients to new wines.
Click here to view photos of OenoHouse's grand opening.
OenoFuture, the investment arm of OenoGroup - which also consists of OenoTrade and OenoHouse - expects to see continued growth in the U.S. market that outpaces other countries like Italy and Spain throughout 2021.
"Investments in wine have proven time and again to withstand outside influences and market turbulence," said Michael Doerr, CEO of OenoGroup. "What we're seeing now is a rise in interest from American investors who are looking to diversify their portfolios by adding a collection of fine wine that's proven to outperform annual returns from the U.S. stock market."
The announcement comes as U.S. stock markets continue to fluctuate in response to COVID-19, political turmoil, and cryptocurrencies. Despite the chaos of global markets, wine investments continue to see annual returns of 10-15%, making for a diverse and COVID-proof portfolio. OenoGroup has slightly beaten the industry's annual 12% returns in recent years by equally prioritizing its OenoHouse and OenoTrade divisions.
"OenoGroup has spent years perfecting one of the most critical components of wine investing: the exit strategy," said Doerr. "As our clients' portfolios rise in value, oftentimes the next step is to sell portions of their assets. OenoGroup provides unparalleled options to sell assets to either other wine collectors, Michelin-starred restaurants, or to parts of the busy hospitality sector through OenoTrade."
OenoGroup currently holds offices in Bordeaux, France; Tuscany, Italy; New York, United States; Madrid, Spain; Munich, Germany; and at its global headquarters in London. Once moved to Miami, OenoGroup's U.S. headquarters will feature account managers, traders, and a dedicated space for OenoHouse events.
About OenoGroup: OenoGroup embodies everything good that the Oeno brand has come to represent. OenoFuture is our multi-award-winning investment arm with a fully managed service that is second to none. Our expert insider knowledge and investment expertise yield market-beating profits, putting us at the cutting edge of a fast-paced market. Closely linked to OenoFuture is OenoTrade, which connects the novice or seasoned wine investor with the private trade sector. The final element of the trinity is OenoHouse. It's our home, an inviting space for our clients and city workers to mingle with like-minded individuals. Here, guests can enjoy the finest of wines in an elegant setting unrivalled anywhere in the world.
CONTACT: Steve Doty