About this episodeIngrid Best, a 20-year wine industry veteran, launches I Best Wines, a brand focused on South African varietal…AI summary
Ingrid Best, a 20-year wine industry veteran, launches I Best Wines, a brand focused on South African varietals, funded independently through real estate and art investments. She highlights the systemic barriers Black-owned brands face in securing retail shelf space and advocates for consumer demand to drive inclusion. The conversation also emphasizes art and wine as critical alternative assets for building generational wealth in the Black community.
Key takeaways 5
Funding Strategy: Ingrid Best funded her wine venture 'soup to nuts' with her own capital, leveraging previous investments in Oakland real estate, stocks, and art. She recently received additional investment from four Black women friends.
Retail Placement Challenges: Black and brown-owned brands face a 'three-tier system' hurdle where distributors must believe in the product before selling to retailers like Total Wine. This requires brands to 'overprove' themselves and often necessitates direct outreach to store managers.
Consumer Advocacy: Product placement is often paid (e.g., end aisles for specific brands). Consumers are encouraged to actively request specific Black-owned brands (like I Best Wines, McBride Sisters, Uncle Nearest) at distributors and stores to force visibility.
South African Wine Renaissance: South Africa produces award-winning wine but lacks visibility in US stores. Ingrid discovered this region after 15 years in the industry and chose it to highlight underrepresented wine regions.
Wealth Building Through Assets: Art and wine are identified as key vehicles for generational wealth. Ingrid shifted from buying luxury goods (purses/watches) to buying art with her bonuses, noting that wealthy portfolios typically include art, real estate, and wine.
Notable quotes 5AI-generated: wording and quote attribution may be wrong. Use the play link to verify.
“I'm stepping out on faith and courage... I've funded it soup to nuts with my own money... it's the only reason why I was able to fund this venture.”
▶ 2:14Ingrid explains her independent funding model for I Best Wines, highlighting her financial discipline in real estate and art.
“We're in a three tier system... you got to get the distributor to believe in you then you got to get the distributor to actually do the work to sell you to the customers... it's definitely not easy if you're black and brown because you're always having to overprove yourself.”
▶ 6:29Describing the structural barriers Black-owned brands face in getting shelf space in major retailers.
“When we go into these places and we can't find I Best... we need to start shouting that out as well... when you request the brand that they don't have big time, it makes a difference.”
▶ 8:25Advice for consumers on how to influence retail placement by actively requesting specific brands.
“Art is one of those arenas... that black and brown people haven't necessarily felt like it is for us... art is a great way to build wealth, it's a great way to preserve our stories... wealthy people invest in wine they invest in art they invest in real estate.”
▶ 13:19Ingrid's perspective on using art and wine as alternative assets for wealth preservation and generational transfer.
“I'm a firm believer that you do what you love... the money comes when you're doing what you love... it's much harder to get to the bag when you're not doing what you love.”
▶ 4:03Ingrid's philosophy on entrepreneurship and passion driving financial success.
Chapters & Sections (36)▼
0:00Celebrating a Woman's Journey in the Wine Industrychapter3
0:00Heather's Journey to Success and Authenticity
0:49Marketing Success in Northern California
1:17Celebrating a Woman's Success in the Industry
2:12Entrepreneurship and Wine Business Venturechapter2
2:12Entrepreneur Discusses Independent Wine Business
2:47Investing in Art and Entrepreneurship Ventures
3:58Passion for Wine and Entrepreneurshipchapter2
3:58Passion for Wine and Entrepreneurial Success
4:51Disrupting Wine Expectations and Belonging
5:41Navigating Store Placement for Black Owned Brandschapter2
5:41Navigating Store Placement for New Brands
6:36Challenges of Being a Black-Owned Business
7:58Product Placement and Consumer Awarenesschapter4
7:58Product Placement in Retail Stores
8:33Wine Selection and Distributor Recommendations
9:03Collaboration and Mutual Support in Business
9:34Business Advice on Wine Industry
10:14Discovering South Africa's Hidden Wine Regionchapter4
10:14South African Wine Region Discovery
10:54Discovering South African Wine Regions
11:33Considering Wine Production in Africa
12:11Black Woman's Love Story with South Africa
13:29Investing in Art for Wealth and Preservationchapter2
13:29Black Art Ownership and Appreciation Journey
14:24Investing in Art and Assets for Wealth
15:27Wine Tasting and Business Discussionchapter3
15:27Wine Tasting and Blending Discussion
16:14Aaron Calls in to Discuss EGD
16:42Celebrating Minority Wine Entrepreneurs in California
17:16Celebrating Black Excellence in the Wine Industrychapter2
17:16Celebrating Black Excellence in the Wine Industry
18:10Wine Tasting and South African Varietals
18:57Celebrating African Wines and Communitychapter2
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