Naked Wines receives £6.4 million investment

22 August, 2013

Norwich-based retailer Naked Wines has secured a £6.4 million from German wine seller WIV Wein International to fund a further push into US and Australian markets.

This is the third round of investments from the German firm, which has already invested £9 million in he online wine retailer set up by Rowan Gormley in 2008.

Naked Wines now supplies around 10 million bottles of wine to 150,000 customers, and a third of them are in the US and Australia.

Customers are called “angels”, who invest £20 per month in winemakers and in return receive discounts and access to any wine produced.

With the increased investment Gormley believes the number of angels will soon rise to 250,000.

 In 2012 Naked Wines turned its first profit – of £1 million – and it said revenues have since increased 57% year-on-year. 




Bookmark this


Site Search

COMMENT

Richard Hemming MW: beware inverse snobbery

Few things can bring communal pleasure so intimately as wine. Apart from a hot tub, perhaps. Sport can trigger mass jubilation, film gives us shared empathy, but wine has a nigh-unique ability to bestow conviviality among us through a shared bottle – which makes it especially galling that we spend so much time divided over it.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter