Naked Wines

Naked Wines is an online wine retailer founded by Rowan Gormley which launched in the UK on 1 December 2008.[1][2][3] In 2015, the company was purchased by Majestic Wine, a British brick-and-mortar retailer.[4]

Naked Wines
TypeRetail
IndustryWine
Founded2008
FounderRowan Gormley
Headquarters
Norwich
,
United Kingdom
Websitewww.nakedwines.com

History

Naked Wines was founded by Rowan Gormley on 1 December 2008.[5]

In March 2010, Naked Wines announced a pricing model called Advance Bookings at the London International Wine Fair.[6] The model discounts wine when ordered in advance.[7][8][9]

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.[10]

On 10 April 2015, Naked Wines was acquired by Majestic Wine, and Rowan Gormley was named CEO.[11]

In 2019, Majestic announced that the business would be restructured. A portion of the business, including stores and branding were sold to private equity firm Fortress Investment Group. Majestic Wines PLC was renamed to Naked Wines and retained the shares of the original company.[12]

Naked Wines is a publicly listed company.[13] As of 2022, the CEO was former COO Nick Devlin.[14]

Business model

Naked Wines' customers (called Angels) fund independent winemakers from around the world, in return for wines at self-described "wholesale prices."[15] 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".[16] They currently ship wine throughout the United Kingdom, United States, and Australia.[17]

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.[18]

See also

References
  1. Waller, Martin (29 November 2008). "It is real business, with sales, products and profits, but done in the best possible taste". London: Times Online. Retrieved 4 March 2009.
  2. "Naked Wines founder follows his nose to simplify trade". The Telegraph. London. 21 April 2009. Retrieved 11 August 2009.
  3. "WSJ". Retrieved 28 March 2018 – via online.wsj.com.
  4. Ruddick, Graham (10 April 2015). "Majestic Wine 'buys' a new boss with acquisition of Naked Wine". The Telegraph (UK). ISSN 0307-1235. Retrieved 23 July 2019.
  5. Jan Kamps, Haje (13 August 2021). "The Story of Naked Wines". Tech Crunch.
  6. "Naked Wines rolls out airline-pricing model at Wine Fair". The London International Wine Fair. 2010. Archived from the original on 16 July 2010. Retrieved 14 July 2010.
  7. "Naked Wines offers customers cut price wine by paying producers upfront". harpers. 2010. Archived from the original on 2 April 2010. Retrieved 14 July 2010.
  8. "Naked Wines founder Rowan Gormley on his "wine venture capital" business, which funds independent winemakers and cuts out the middleman for consumers". growingbusiness.co.uk. 2010. Archived from the original on 27 December 2010. Retrieved 14 July 2010.
  9. Hurley, James (15 June 2010). "Wine site's naked ambition frustrated by disbelieving suppliers". The Telegraph. London. Retrieved 14 July 2010.
  10. "Naked Wines relaunches online Marketplace". harpers.co.uk. 15 July 2011. Retrieved 11 January 2016.
  11. "fastFT". Financial Times. Retrieved 28 March 2018.
  12. "Majestic Wine sale completes as retailer plots growth". 12 December 2019.
  13. "Naked Wines PLC - Investors - Share Price Feed and Tools".
  14. "Breaking: Naked Wines' Rowan Gormley to step down". The Drinks Business. 21 November 2019. Retrieved 23 October 2022.
  15. "The rise of no-name designers". The Economist. Retrieved 28 March 2018.
  16. "Naked Wines: angels at the table". Financial Times. 24 October 2014. Retrieved 28 March 2018.
  17. Hanson, Dana (2018). "20 Things You Didn't Know About Naked Wines". Money Inc.
  18. "Naked Wines Review 2021: Our Wine Experts Honest Opinion". Bestwineclub.com.
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