Fresh Vine Wine reports annual revenue grew 681% to $1.7 million from $217 million in 2020. The Company reported a net loss of $9.97 million for fiscal 2021, compared to a net loss of $1.29 million in fiscal 2020.
Revenue growth was attributed to an increased presence in the wholesale market, where we significantly expanded our distributor network and geographic presence, and the introduction of our wine club, which drove direct-to-consumer sales. Of total 2021 revenue, $773,000 was from our wholesale distribution channel and $774,000 was from our direct-to-consumer sales channel.