Naked Wines Explained

Naked Wines
Type:Retail
Foundation:2008
Founder:Rowan Gormley
Location City:Norwich
Location Country:United Kingdom
Industry:Wine

Naked Wines is an online wine retailer founded by Rowan Gormley which launched in the UK on 1 December 2008.[1] [2] [3]

History

Naked Wines was founded by Rowan Gormley on 1 December 2008.[4]

In March 2010, Naked Wines announced a pricing model called Advance Bookings at the London International Wine Fair.[5] The model discounts wine when ordered in advance.[6] [7] [8]

Advance Bookings altered its booking model and renamed it Naked Marketplace in May 2011. Customers can bid on upcoming wines until a minimum volume is met and the wine is subsequently sold.[9]

On 10 April 2015, Naked Wines was acquired by Majestic Wine for up to £70m, and Gormley became group CEO.[10]

In December 2019, the company announced that the business would be restructured. The Majestic portion of the business, including stores and branding, were sold to private equity firm Fortress Investment Group. Majestic Wines plc was renamed Naked Wines plc.[11] In effect, the previous shareholders of Majestic became the new shareholders of Naked Wines.

Naked Wines is a publicly listed company.[12] As of 2024, the CEO is Rodrigo Maza.[13]

Business model

Naked Wines' customers (called Angels) fund independent winemakers from around the world, in return for wines at self-described "wholesale prices."[14] However, the Financial Times notes that most wines sold by Naked Wines are not available on the retail market, "making direct price comparisons virtually impossible", and most wines are priced "close to usual retail price".[15] They currently ship wine throughout the United Kingdom, United States, and Australia.[16]

Customers review their wines and interact with other online customers; reviewers give the wines Likert-scale style scores out of five, a Yes/No to whether they would buy the wine again and a textual description. When prospective buyers look at a wine's page they will see previous customers' reviews, which helps them determine what they would like to try for themselves.[17]

See also

Notes and References

  1. News: It is real business, with sales, products and profits, but done in the best possible taste. Waller . Martin. 29 November 2008. Times Online. 2009-03-04 . London.
  2. News: Naked Wines founder follows his nose to simplify trade. The Telegraph. 2009-08-11 . London. 2009-04-21.
  3. Web site: WSJ. 28 March 2018. online.wsj.com.
  4. News: The Story of Naked Wines. Jan Kamps. Haje. 13 August 2021. Tech Crunch.
  5. Web site: Naked Wines rolls out airline-pricing model at Wine Fair. 2010. The London International Wine Fair. 2010-07-14. dead. https://web.archive.org/web/20100716214507/http://2010.londonwinefair.com/press--news/show-news/naked-wines-rolls-out-airline-pricing-model-at-wine-fair.aspx. 16 July 2010.
  6. Web site: Naked Wines offers customers cut price wine by paying producers upfront. 2010. harpers. 2010-07-14. dead. https://web.archive.org/web/20100402223326/http://www.harpers.co.uk/news/news-headlines/8883-naked-wines-offers-customers-cut-price-wine-by-paying-producers-upfront.html. 2 April 2010.
  7. Web site: Naked Wines founder Rowan Gormley on his "wine venture capital" business, which funds independent winemakers and cuts out the middleman for consumers.. 2010. growingbusiness.co.uk. 2010-07-14. dead. https://web.archive.org/web/20101227075755/http://www.growingbusiness.co.uk/naked-wines.html. 27 December 2010.
  8. News: Wine site's naked ambition frustrated by disbelieving suppliers. The Telegraph. 2010-07-14 . London . James . Hurley . 2010-06-15.
  9. Web site: Naked Wines relaunches online Marketplace . harpers.co.uk . 2011-07-15 . 2016-01-11.
  10. Web site: Majestic swoops on Naked Wines in turnround bid . Financial Times. 2 January 2023.
  11. Web site: Majestic Wine sale completes as retailer plots growth . 12 December 2019 .
  12. Web site: Naked Wines PLC - Investors - Share Price Feed and Tools .
  13. Web site: April 2, 2024 . Appointment of Rodrigo Maza as CEO . 4 July 2024 . Naked Wines Plc.
  14. News: The rise of no-name designers. The Economist. 28 March 2018.
  15. News: Naked Wines: angels at the table . Financial Times. 24 October 2014 . 28 March 2018.
  16. News: 20 Things You Didn't Know About Naked Wines. Hanson. Dana. 2018. Money Inc.
  17. Web site: Naked Wines Review 2021: Our Wine Experts Honest Opinion . Bestwineclub.com.

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