Naked Wines has 50% increase in number of Angels and 40% sales growth in 2013

Naked Wines released it financial performance results for 2013 which includes a 40% increase in sales reaching £53 million driven by a 50% increase in the number of Angel investors.

Rowan Gormley, founder and CEO 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.”

The company’s turnover passed the £50 million mark in 2013, up from £38 million in 2012.

Naked Wines launched in 2008 and uses a crowd-funding scheme for independent winemakers by having a network of over 200,000 Angel investors.  The number of Angels worldwide grew to 220,000, which exceeds the required 185,000 for the company to break even.

Additionally, Naked Wines reported that in 2013, the average monthly investment made by Angels into new wines exceeded £5 million for the first time.

Angels are monthly subscribers that pay £20 per month into an account. Naked Wines then invests the cash into finding new winemakers and wines. By purchasing a winemaker’s entire production the company is able to get beneficial pricing, which is then passed on to the Angels. 

The company on average ships over 25,000 bottles a day. Currently Naked Wines has offices in the US, UK and Australia. Early this year the company, along with 19 other UK business joined a London Stock Exchange business support programme to help it prepare for its next stage of growth.

Through the two-year ELITE programme Naked Wines will have access to advice from private equity investors and venture capitalists, as well as the opportunity to learn about IPOs.

Readers' comments (3)

  • This is an intriguing development and I have watched the growth of this company with interest. But the article, as interesting as it is, doesn't answer a number of obvious questions that arise:

    1) If the company is growing at the rate claimed, which I don’t at all doubt, and has surpassed the level of break-even as stated, why does it need to list on the LSE to raise cash?

    2) Are the angel investors actually shareholders? If not, then it would appear the term angel investor is inappropriate in this case?

    3) If the company does indeed list on the stock market, will the angel investors benefit?

    4) Assuming the angel investors aren't equity holders, how will the IPO benefit the angel investors and how will the interests of both be aligned?

    Just a few questions that come to mind. Of course I won’t be at all offended if you tell me to mind my own f~@&^%% business!

    Anyway, good luck to the folks at Naked Wines.

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  • Dear Mr Interested

    Thank you for your interest.

    To clarify one point...we have no stated plans to list on the LSE. What we have done is join the LSE Elite program, which is to help rapidly growing companies learn how to deal with growth.

    We may well make a decision to float one day - but no such decision has been made yet.

    And please do keep your interest in our f%&^$#@ business.

    Regards

    Rowan

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  • The business model@ naked is wow factor unfettered,astonising creativity, thinking more outside the banana peel than everyone
    else's square.I just love stuff like this,it is so rare.The best business ideas seem to have the most fun,also. Having fun with wine,sacrilege,still to so much of the industry.Naked fun! I'd like some.



    smaky

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