Naked Wines

Naked Wines
Retail
Industry Wine
Founded 2008
Founder Rowan Gormley
Headquarters Norwich, United Kingdom
Website www.nakedwines.com

Naked Wines is an online wine retailer founded by Rowan Gormley which launched in the UK on 1 December 2008.[1][2][3][4]

Naked Wines' customers (called Angels) fund independent winemakers from around the world, in return for wines at wholesale prices.[5] They currently ship wine throughout the UK, USA and Australia.

The Naked model works as on social network principles, encouraging customers to review their wines and interact with other customers online; 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 the percentage of those who have said they would buy again a list of people's reviews.

'Archangels' are a smaller group of customers that Naked Wines have invited to assume the role on the basis that they engage actively on the site to help other customers and review all their wines.

Naked Wines was named the Online Business of the Year at the National Business Awards in 2011. In December 2013 it was named one of the top 1000 companies to inspire Britain by the London Stock Exchange Group, winning the 'Top Online Retailer' award.

On 10 April 2015, Naked Wines was acquired by Majestic Wine and Rowan Gormley was appointed CEO of the enlarged group.[6]

Naked Fine Wine Bond

In September 2013, it launched a financial bond to raise funds for fine wines – raising £5 million in a month. The Naked Fine Wine Bond offered consumers 7% gross in cash interest p.a. or 10% gross in Wine Credits p.a. (a credit to their Naked Wines account).[7]

Advance Bookings

In March 2010, Naked Wines rolled out a pricing model similar to airline pricing, called Advance Bookings, at the London International Wine Fair.[8] The model, which offers customers savings by ordering their wine in advance, with greater discounts the sooner the wine is ordered.[9] The model is funded by investment from Naked Wines as well as its customers.[10][11]

MarketPlace

In May 2011, the advance purchasing model was changed to a more direct approach in the form of the Naked MarketPlace.[12] MarketPlace allows prospective and established Naked Winemakers to promote their wines at a discounted price to Naked Wines' customer base. Customers can bid on a proposed case if they want it, and once the market exceeds a minimum volume then the deal goes into effect and the wines are shipped and delivered at pre-determined future dates. Naked Wines takes a commission of 10% in this process.[13]

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 2009-03-04.
  2. ↑ "Naked Wines founder follows his nose to simplify trade". London: The Telegraph. 2009-04-21. Retrieved 2009-08-11.
  3. ↑ https://online.wsj.com/news/articles/SB10001424052702303464504579107130950160854
  4. ↑ http://www.thisismoney.co.uk/money/markets/article-2376943/ROWAN-GORMLEY-INTERVIEW-Former-private-equity-big-shot-challenges-snobby-pretentious-wine-giants.html
  5. ↑ http://www.economist.com/news/business/21565256-new-breed-offers-luxury-cheap-rise-no-name-designers
  6. ↑ http://www.ft.com/fastft/305953/majestic-wine-raids-naked-wines-cellar
  7. ↑ http://www.thisismoney.co.uk/money/markets/article-2408519/Naked-Wines-looking-raise-3m-fine-wine-bond.html
  8. ↑ "Naked Wines rolls out airline-pricing model at Wine Fair". The London International Wine Fair. 2010. Retrieved 2010-07-14.
  9. ↑ "Naked Wines offers customers cut price wine by paying producers upfront". harpers. 2010. Retrieved 2010-07-14.
  10. ↑ "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. Retrieved 2010-07-14.
  11. ↑ Hurley, James (2010-06-15). "Wine site's naked ambition frustrated by disbelieving suppliers". London: The Telegraph. Retrieved 2010-07-14.
  12. ↑ "Online retailer Naked Wines strips out the middleman". thisismoney.co.uk. 2011-05-14. Retrieved 2016-01-11.
  13. ↑ "Naked Wines relaunches online Marketplace". harpers.co.uk. 2011-07-15. Retrieved 2016-01-11.
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