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.