Naked Wines raises glass to transformative year as it upgrades forecasts
- Naked Wines makes record haul at Decanter World Wine Awards
- Naked Wines: Backing the best winemakers, while successfully challenging the status quo
- Naked Wines PLC snags a slew of trophies at the Decanter World Wine Awards 2021
Quick facts: Naked Wines PLC
Price: 712 GBX
Market Cap: £522.89 m
About the company
Naked Wines PLC was set up because its founders believed that the wine industry could be so much better.
The two important people – the wine drinker and the winemaker – could be getting a better deal.
So, the company decided to do something about it.
The model, which turned out to be ahead of its time, was built around crowdfunding.
Naked Wines customers support independent winemakers, and in exchange get exclusive access to wines at preferential prices.
The company has a fast growing and loyal subscriber base of Angels across its three markets and works with over 235 independent winemakers, producing 1,500+ wines in 21 countries.
How it is doing
The retailer said its exclusive products had managed to bag two platinum, seven gold, 48 silver and 105 bronze medals.
The firm also said the wins represented a strong performance for its domestic US entries, with wines native to the US securing two platinum’s, five golds, 22 silvers and 80 bronzes.
"This is an outstanding achievement for the whole Naked Wines team and our incredible independent winemakers. The record sweep of medals, particularly from our US producers, underscores the high and consistent quality of our wines which we make available direct to our customers, and it is great to see third party recognition of this,” Naked Wines chief executive Nick Devlin said in a statement.
Shares in Naked Wines PLC (LON:WINE)(OTCQX:NWINF) have commenced trading on the OTCQX Best Market in the United States, under the ticker symbol ‘NWINF’.
Trading on OTCQX is an important step for Naked, giving the company exposure to a wider audience of potential investors by easing cross-border trading for our US investors and employees.
The online wine retailer increased sales 68% to £340.2mln in the year to 29 March as people developed a taste for its wine subscription model amid the Coronavirus (COVID-19) pandemic-driven shift to online shopping.
Insight: Naked Wines: Backing the best winemakers, while successfully challenging the...
“For me, the measure of success is much more harnessing the platform we've got - the community of wine lovers and winemakers and really changing the structure of the way the wine industry works. If we take care of that, I think the valuation side of things will take care of itself just fine.”
Nick Devlin, CEO
What management says
Naked Wines PLC (AIM:WINE, OTCQX:NWINF, FRA:MWJ) (LON:WINE) (OTCQX:NWINF) (FRA:MWJ) VP of Planning, Procurement & Customer Experience Lucy Devlin tells Proactive the group has won a record set of accolades at the Decanter World Wine Awards 2021, the world’s largest wine competition.
Devlin says its exclusive products had managed to bag two platinum, seven gold, 48 silver and 105 bronze medals. The firm also said the wins represented a strong performance for its domestic US entries, with wines native to the US securing two platinum’s, five golds, 22 silvers and 80 bronzes.
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