October 20 2014 Latest news:
Ben Woods, Business writer
Friday, July 4, 2014
Naked Wines has recorded a 40pc growth in sales and doubled its UK profits as it unique business model of crowd-funding independent winemakers continues to strengthen.
The Norwich-based online merchant has attracted a record 220,000 angels – its unique pool of wine investors – causing worldwide turnover to expand to £50m.
It comes as investment in wine production hit £5m per month and its UK operating profit reached £2m for 2013, despite a continued effort to drive money back into the business.
The company, based at Holland Court, The Close, Norwich, said its focus on expanding its market reach into USA and Australia fuelled its surge in worldwide sales.
Rowan Gormley, founder and chief executive of Naked Wines, said: “It has been a year of strong profitable growth for our company and I would like to thank the angels and winemakers who made it possible.
“Since we started the company five years ago, Naked Wines has revolutionised the way wine is financed, made and sold.
“We have created a business that enables talented and ambitious wine makers across the globe to receive the funding they need to create the wines they dream of – and share them with an enthusiastic and appreciative audience.
“In the year ahead we have some truly great wines to offer our angels that I believe will lead to another year of strong growth.”
• Do you have a business story for the Eastern Daily Press? Contact business writer Ben Woods on 01603 772426 or email firstname.lastname@example.org
A Norfolk fruit grower has finally found an outlet for some of this year’s vast surplus of pears – and is now looking ahead to plans to secure the firm’s future viability.