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Naked Wines sees turnover rise by 40% to pass £50m

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Naked Wines has reported 40% growth in its latest financial year, sending turnover past the £50m milestone.

The wine pureplay, which underpins wine retail with social media while also crowdfunding to finance independent winemakers, said its worldwide turnover had grown to £53m in 2013, from £38m in 2012, while UK operating profit almost doubled to £2m.

The growth has come as more Angel Investors have signed up with the company. They agree to spend a set monthly amount, which is used to finance winemakers, in return for wholesale prices. The number of Naked Wines Angels grew by 50% to 220,000, beyond the 185,000 required in order to break event. Together they spend £5m a month, while the company ships 25,000 bottles of wine a day.

Growth was particularly notable in the US and Australia, where the company launched in 2012, five years after its UK launch of December 2008.

The year also saw Naked Wines launch a fine wine development unit, funded by a £5m Naked Wines Fine Wine Bond. The company, which has invested in more than 135 independent winemakers to date, has also attracted a number of prominent winemakers to make wines for it, while Matt Parish of Treasury Wine Estates has joined as director of wine.

“Since we started the company five years ago, Naked Wines has revolutionised the way wine is financed, made and sold,” said Rowan Gormley, founder and chief executive of Naked Wines. “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.”

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