Naked Wines expands into US and Oz

22nd August, 2013 by Lucy Shaw

Naked Wines has raised £6.4m in revenue to expand its business in the US and Australia.

Naked Wines’ founder, Rowan Gormley

While the online company already has 50,000 customers in America and Australia, The Financial Times reports that it is hoping to expand that number to 250,000 over the next few years as crowdfunding becomes more commonplace.

“We want to be a Kickstarter for wine – not a retailer. More people are starting to understand the principle,” chief executive Rowan Gormley told the FT.

“We don’t do this to be nice. We are not a charity,” he added.

The £6.4m investment comes by way of German direct wine seller WIV Wein International, which has already invested £9m in the company.

“We’ve been in the wine business for 60 years, in 24 countries around the world, and Naked Wines’ business model is the biggest revolution we have seen,” Andreas Pieroth, the company’s joint managing director told the FT.

The paper reports that WIV Wein International owns around 66% of Naked Wines, while staff own 10% and the Gormley owns the remainder.

Naked’s customers pay £20 a month to invest in winemakers in exchange for preferential rates.

So far, the company has invested £25m in 130 winemakers around the world and currently supplies around 10m bottles of wine a year.

Naked Wines’ revenues jumped 57% year-on-year to £35m last year.

The company was founded by Gormley in 2008 after he left his post as chief executive of Virgin Wines.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

New Business Development Manager Nordic

Concha Y Toro
Stockholm, Sweden

Experienced Administrator

The Drinks Business
Central London, UK

Sales Executive (London – Craft Spirits)

Bimber Distillery
London, UK

2 x Buying Assistants

Berry Bros. & Rudd
Battersea and Basingstoke, UK

Temporary Christmas Sales Support - Wines & Spirits

Harrods
Knighsbridge, London, UK

Head of Wholesale

Hispamerchants Ltd
London, UK

Sales Manager

Hispamerchants Ltd
London, UK

The World Bulk Wine Exhibition

Amsterdam,Netherlands
20th Nov 2017

The Drinks Business Green Awards 2017

London,United Kingdom
20th Nov 2017

The Global Spirits Masters Lunch

London,United Kingdom
1st Dec 2017
Click to view more

Green Awards 2017

Deadline : 25th October 2017

The Global Riesling Masters 2017

Deadline : 30th October 2017

Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more