UK wine merchant, Majestic, has bought the online retailer Naked Wines for £70 million and appointed its founder Rowan Gormley as CEO.
Crowdfunding wine retailer Naked Wines has reported 40% sales growth for its 2013 financial year to hit £53 million, with its UK operation nearly doubling profits.
Naked Wines has raised £6.4m in revenue to expand its business in the US and Australia.
Former Craggy Range winemaker Rod Easthope is to make an exclusive range of wines for online retailer Naked Wines.
The Advertising Standards Authority (ASA) has banned an advert on Naked Wines’ website for being potentially misleading following a complaint.
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