SONOMA, Calif., Oct. 6, 2006 (PRIMEZONE) -- 360 Global Wine Company's (OTCBB:TSIX) subsidiary, 360 Viansa, LLC, today announced the hiring of New Vine Logistics, providers of the wine industry's first comprehensive consumer-direct channel management solution, to manage the winery's consumer-direct shipping, compliance and reporting services.
"New Vine Logistics will be an efficient and cost-effective resource to 360 Global, as we expect to save up to approximately $1 million in annual operating costs. Their ability to handle the shipping, as well as the complex federal and state sales and excise tax regulations will be a major value-added service," said Jake Shapiro, Chief Executive Officer of 360 Global Wine. "We are confident New Vine Logistics will provide superior service to our valued Tuscan Wine Club members and will play a significant role in the launch of our Cucina Viansa wine brand."
With a new fulfillment partner, 360 Viansa plans to close its internal shipping operations. The company currently has twelve full-time hourly employees in the shipping department, all of whom will be given an opportunity to work at New Vine Logistics or will be provided assistance in seeking similar positions elsewhere.
"We're happy to help 360 Viansa as they grow their consumer-direct channel and build the new Cucina Viansa brand," said Katie Hoertkorn, CEO, New Vine Logistics. "Our role is to take care of the logistics and compliance, helping 360 Viansa maximize their consumer-direct sales."
About 360 Global Wine Company
360 Global Wine Company is a California-based, diversified business positioned to take a leading role in the $25 billion wine industry. Management has and is acquiring premier wine estates, and has developed a distribution network covering the U.S., and committed resources to a dynamic brand-building campaign. In 2006, the Company has been actively expanding and leveraging its retail operations to create a wholesale operation designed to effectively serve the fine wine wants and needs of top restaurants and national retail/liquor outlets.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan" "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to the company's access to additional capital, competitive factors, the company's ability to consummate its acquisition strategy, consumer acceptance of the company's products, and dependence on key management.
About New Vine Logistics
New Vine Logistics provides the wine industry's first comprehensive consumer-direct channel management solution. The company provides a complete set of marketing programs, shipping and logistics services, order fulfillment, and regulatory compliance services. Customers include top wineries, such as J Winery, Cline Cellars, Clos du Val, Fisher Vineyards, and Araujo Estate Wines; wine clubs such as VinUnici and Bottlenotes; and third party retailers ranging from iGourmet to Lufthansa.
The New Vine Logistics team is comprised of experts from the wine, shipping regulations and compliance, technology and marketing industries. Company executives have worked with industry leading companies, such as the Morrell Wine Group, DHL Worldwide Express, IBM, WineShopper.com and Oracle. The company's financial backers include top venture firms such as Kleiner Perkins Caufield & Buyers, Altos Ventures, Thomvest Ventures and others.