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Fresh Vine Wine Continues Growth of Retail Outlet Strategy

VINE

The Fresh Market Grocery Stores Latest Addition to National Distribution of Napa-based Wine

MINNEAPOLIS, June 23, 2022 (GLOBE NEWSWIRE) -- Fresh Vine Wine, Inc. (NYSE American: VINE), the premier producer of lower carb, lower sugar, and lower calorie premium wines in the United States, announced today that its Fresh Vine Wine Rosé varietal is available for sale on display at over 100 The Fresh Market grocery stores across Florida, North Carolina, South Carolina, Tennessee, Virginia, Ohio, Illinois, and Massachusetts. Additional markets will be added in July 2022, including Alabama, Arkansas, Georgia, and Oklahoma.

With the addition of The Fresh Market, Fresh Vine Wine has added 2,145 new Points of Distribution (PODs) in the last 90 days for its premium wines, retailing from $14.99 - $22.99.

“The Fresh Market focus on inspiring, fresh food to make every day eating extraordinary is another ideal partner that complements our focus on the rapidly expanding ‘Better for You’ market,” said Rick Nechio, President, Fresh Vine Wine. “We are pleased to have The Fresh Market offer our premium wines to its customers as another way to offer high-quality products to their health-conscious consumers.”

The Fresh Market is a supermarket chain founded in 1982, with headquarters in Greensboro, North Carolina. The Fresh Market has been recognized in USA Today’s 10 Best Readers’ Choice polls in 2021 and 2022 as the #1 best supermarket in the United States.

Press Relations: freshvinewine@jonesworks.com
Investor Relations: joeh@gregoryfca.com

About Fresh Vine Wine, Inc.
Fresh Vine Wine, Inc. (NYSE American: VINE) is a premier producer of lower carb, lower calorie premium wines in the United States, kicking off a 2022 growth plan following its IPO in mid-December 2021. Fresh Vine Wine's brand vision is to lead the emerging natural and accessible premium wine category, as health trends continue to accelerate in the US marketplace. The 2020 US wine market was a $69 billion category. Fresh Vine Wine plans to accelerate growth in 2022 by amplifying its marketing, expanding product offerings, and expanding its team. Fresh Vine Wine positions its core brand lineup as an affordable luxury, retailing between $14.99-$22.99. Fresh Vine Wine's varietals currently include its Cabernet Sauvignon, Chardonnay, Pinot Noir, and Rosé.

About The Fresh Market
Since 1982, The Fresh Market, Inc. has helped guests make everyday eating extraordinary with time-saving meal solutions, unique ingredients and delicious food for any occasion. From fresh produce and exceptional meat and seafood, to signature baked goods and thousands of organic options, this specialty grocery retailer has something to please every palate. The Fresh Market currently operates 159 stores in 22 states across the U.S., inspiring guests to discover new flavors and cook with confidence. For more information, please visit www.thefreshmarket.com or follow the company on Facebook, Twitter and Pinterest.

Forward Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements regarding the timing or nature of future operating or financial performance or other events. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company's ability to hire additional personnel and to manage the growth of its business; the Company's reliance on its brand name, reputation and product quality; the Company's ability to adequately address increased demands that may be placed on its management, operational and production capabilities; the effectiveness of the Company's advertising and promotional activities and investments; the Company's reliance on celebrities to endorse its wines and market its brand; general competitive conditions; fluctuations in consumer demand for wine; overall decline in the health of the economy and consumer discretionary spending; the occurrence of adverse weather events, natural disasters, public health emergencies, or other unforeseen circumstances that may cause delays to or interruptions in the Company's operations; risks associated with disruptions in the Company's supply chain for grapes and raw and processed materials; the impact of COVID-19 and its variants on the Company's customers, suppliers, business operations and financial results; disrupted or delayed service by the distributors the Company relies on for the distribution of its wines; the Company's ability to successfully execute its growth strategy; the Company's success in retaining or recruiting, or changes required in, its officers, key employees or directors; the Company's ability to protect its trademarks and other intellectual property rights; the Company's ability to comply with laws and regulations affecting its business, including those relating to the manufacture, sale and distribution of wine; claims, demands and lawsuits to which the Company may be subject and the risk that its insurance or indemnities coverage may not be sufficient; the Company's ability to operate, update or implement its IT systems; the Company's ability to successfully pursue strategic acquisitions and integrate acquired businesses; the Company's potential ability to obtain additional financing when and if needed; the Company's founders' significant influence over the Company; and the risks identified in the Company's other filings with the SEC. The Company cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the Company's filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The Company's business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.