An industry globally valued at $441.60 billion in 2022, projected to be $698.54 billion by 2030 and still missing something crucial? Sounds surprising, right? Well, Carmelo Anthony thought so too, and that’s exactly what motivated him to step into the wine industry. Yes, there are already multiple names in the industry from the NBA, but Melo was not in it for the rat race or just because of the lucrative returns the industry could provide.

At least that’s what the former New York Knicks star has revealed in a recent article by Forbes.

If you’ve kept up with Carmelo Anthony’s ventures off the court, you probably know he’s always been about creating something meaningful. Teaming up with Asani Swann, he launched his wine brand, VII(N) The Seventh Estate. But why wine? According to Melo, the wine industry was missing three key ingredients. “New creativity, new excitement, and youth.”

Bold claims, right?

But when you think about it, he’s got a point. “It’s about branding and messaging,” Anthony explained. “We want to elevate the culture and offer meaningful, elevated luxury. I wanted to tap into that gray area that beverage companies aren’t exploring—bridging fashion and wine in a more intimate setting.”

Something that Carmelo Anthony recently did by celebrating his wine estate brand at a pop-up shop at 10 Greene Street.

Makes you curious, doesn’t it? What exactly does that look like? Well, with Carmelo Anthony, it looks like a like success. Back in 2020, Melo and Swann started small, testing the waters with just one wine. It was a risk, but the response was phenomenal. Now, in 2024, the fact that one bottle has grown into a thriving brand offering nine varieties is a testament to this success. The former NBA star, however, has even higher ambitions for his wine brand.

Carmelo Anthony has been eying $5 billion gain from the Wine Industry

Speaking at the 2024 Wine and Spirits Festival, the 10x All-Star shared his excitement about the wine industry, which, as he revealed, is expected to become a $500 billion market in just a few years. And Melo’s goal? Just a tiny slice of that pie.

“I just want a one percent, half a percent of the industry,” he admitted at the festival. But think about it—one percent of that future value equals a staggering $5 billion. It’s no small feat, but Anthony has been laying the groundwork for years.

For those who’ve followed his journey, it’s no surprise. His love for wine started back in his Denver Nuggets days. What began as a hobby—collecting and enjoying fine wines—has now evolved into something much bigger, getting involved in production and building his own brand.

But how does he plan to compete in such a massive market?

Melo shared his strategy during the festival. “What we try to do is, we try to be authentic. We try to give you big… We try to give you great product. We try to give you a great brand. And we try to give you great content. And when we actually able to tell the whole story, then that’s where things will start to turn around for us.” 

Amazing how big you can aim if you can contribute something missing to something that’s already huge. Exactly how Carmelo Anthony started with the Wine Industry in the first place.