15 April 2021 | 09:22am
StockMarketWire.com - Naked Wines has seen group sales growth of approximately 68%, exceeding the upper-end guidance.
Its US business grew 75%, surpassing £150 million of sales, and now represents approximately 45% of group sales.
The increase in sales was driven by a significant increase in demand for its direct-to-consumer wine subscription model, and from an accelerated shift in consumer behaviour toward online wine purchases due to the COVID-19 pandemic.
Nick Devlin, Naked Wines CEO, said: Our significant growth is a testament to the customer demand for a disruptive online wine model that offers direct connection to the world s top winemakers. We end this year not just as a bigger business, but a better one, benefitting from scale economies that have reinforced our competitive position and enhanced our appeal to both customers and top winemaking talent.
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RICHARD CALVER.
THIS is the year of the Metal Ox (the Chinese New Year began on February 12). In the Chinese horoscope, the ox is dependable and hard-working, somewhat stolid.
Richard Calver.
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