Nina Dobrev and Julianne Hough Talk Fresh Vine Wine IPO

Actresses and Fresh Vine Wine co-owners Nina Dobrev and Julianne Hough, and Fresh Vine Wine CEO Janelle Anderson join Yahoo Finance to discuss their IPO.

Video transcript

ADAM SHAPIRO: There's a lot to toast when we're in this moment as we head towards the end of the year. But what about looking towards the future with one of the hottest new wines on the market? They went public on Tuesday. You've heard of them-- Fresh Vine.

And to bring in to discuss-- we're going to bring into the stream to discuss where you go with lower carb, lower calorie wines that people want. Nina Dobrev, actress and Fresh Vine Wine co-owner, along with Julianne Hough, actress, dancer, and Fresh Vine Wine co-owner, as well as Janelle Anderson, Fresh Vine Wine CEO.

Congratulations on the IPO. You just raised $22 million. The company is off to a great start. You're one of the few stocks today that-- My question is how do you make wine that's lower carb and lower calorie?

JANELLE ANDERSON: Yeah, first of all, thank you for having us and for allowing us to be here. Fresh Vine Wine is so excited to be here today. And we do have a product that is truly differentiated. And we do it by putting taste first, making sure we have a premium taste profile. And then the sugar-- the less sugar, less carbs, less calories are the health benefits that come behind that. We balance that with a normal level of ABV. So we do that through harvest and fermentation processes.

EMILY MCCORMICK: This is Emily here. And Nina, I'll toss this question over to you. I'm wondering, as you thought about getting into this industry, what gap in the market did you really identify that made you want to partner with Fresh Vine Wine and now become a co-owner in this company specifically?

NINA DOBREV: Well, I mean, I'm an avid wine drinker. I love great experiences and shared experiences with people that I love. And I love laughing. And so it felt like a perfect fit for me and for Julianne to partner on this and be involved in such a company. But, of course, it has a lot of people like Julianne and I and Janelle. We're very holistic. We care about our bodies, our minds, our souls. And we wanted to make sure that the things that we're putting into our bodies have lasting effects and don't hurt us long-term.

And so, we wanted to create something-- and that's what the gap is that you were talking about-- we want to create something that's good for you but makes you feel good as well, but still has a premium taste and doesn't compromise on the taste whatsoever.

ADAM SHAPIRO: Julianne, I don't think anybody would be mad at that-- that the wine coming from Napa. I mean, Napa Valley is clearly in the United States. You can't get anything better. But what drew you to go into the wine business?

JULIANNE HOUGH: Oh my goodness. Well, as Nina said, we are avid wine drinkers. We've known each other for 10 plus years, and our shared experience is the most important thing about our friendship. And when you think about wine, it's all about shared experience. It's about creating memories. It's about the joys and the pleasures of life celebrating.

And seeing the white space in the market and seeing the trendsetters from our consumers, the trendsetting consumers, it's really about what our customers and our consumers want, as well as our own needs and our desires. And we found that we are very similar to our consumers.

And just the fact that Napa, California, it's one of the top places in the world to produce wine, we have the most incredible winemaker, Jamey Whetstone, who we've worked diligently with to create these varietals in a way that is, again, like Nina said, not compromising on that premium taste because that is so important, while also really not compromising on the fact that we don't want a hangover the next day.

So we're going to really focus on that low calorie, low carb situation. And we've done a pretty good job, if I do say so myself.

ADAM SHAPIRO: Julianne, you had me at no hangover. Nina, I want to ask you something, because many of us-- and I think my generation is older than you. But we grew up with, I think, it was Orson Welles, talking about Ernest Gallo, and "sell no wine before its time". And now we have young women leading a company. How important is it that women see people like you taking the reins in this kind of business in this industry? Nina.

JULIANNE HOUGH: So 6% of--

(CROSSTALK)

NINA DOBREV: You brought up a great point. I mean, it is a predominantly male-driven industry. So that's why it's so exciting and it was really important for us to have a female CEO. And a fun fact that we learn is that only 6% of companies that are in the New York Stock Exchange are led by a female CEO, and we are one of them. And that was super, super important to us.

- Oh, Yeah.

- Yeah.

- Yeah.

EMILY MCCORMICK: I want to follow up on the share price, because, of course, as Adam mentioned in the intro, your stock is up today. The IPO was priced earlier this week at $10 a share, but it has been trading below that level in the past couple of days. Now things can be volatile immediately following an IPO. But what do you think the market might be missing here in just these first few days?

JANELLE ANDERSON: Listen, we had a fantastic capital raise. We raised over what our goal was. So we're really pleased with that. That really allows us to fuel our growth strategy. And that's what we're really here to do-- is really expand the awareness and the trial. I promise, everyone who tries it will be surprised and delighted that it tastes like it does and has the health benefits with it.

We're going to expand our distribution and our product offerings. And this funding really allows us to do that. So we're incredibly confident that our roadmap for growth and our strategic growth story is just getting started.

ADAM SHAPIRO: And to follow up on that, Janelle, I mean, the global industry is what? A $340 billion market. You're just tapping into it. What future growth do you see over, say, the next 5, 10 years for Fresh Vine Wine?

JANELLE ANDERSON: Yeah, so obviously you're right. It's an incredibly large industry, $69 billion in the US. And we're really part of this emerging channel that is a better for you within the wine industry. So we're excited to see how we can possibly lead that part of the marketplace. And we think that we have a ton of growth potential with that leadership to that emerging market. And we just see a lot of future growth through our roadmap and we're very excited to get going on that.

EMILY MCCORMICK: Julianne, and I'll leave this last question with you and have you have the final word. I'm wondering, as you look over the next couple of years for this company, what do you think are the biggest priorities right now? And where do you want to see this really grow into?

JULIANNE HOUGH: I think it's all about our consumers, listening to them, what their needs and their priorities are. I think, obviously, developing our product and the distribution, it's all about growth. It's all about what we can do to really just impact what we want to put out into the world with this industry. And I think we have amazing plans. We have a great strategy.

The fact that Janelle is on our team leading the way, that is our superpower. So we're just super pumped to just be here. I mean, is this like a pinch me moment? The fact that we're here at the New York Stock Exchange going public is just a dream come true.

NINA DOBREV: The energy in this room is amazing. We all couldn't believe it. I've never been here. This is my first time in this--

ADAM SHAPIRO: Being on the floor of the Stock Exchange, be careful about saying pinch me. But congratulations on the IPO. And we're going to see you. We're saying thank you and so long at this point. But we're going to see you. Can't wait the ringing of the closing bell at 4 o'clock.

Congratulations on the IPO, looking forward to trying the wine. And just want to remind everybody, Fresh Vine Wine, not only available if you want to invest, but you can buy the stuff and enjoy it. Nina Dobrev, Julianne Hough, and Janelle Anderson, congratulations. All the best to you.