Naked Wines is an online
wine
Wine is an alcoholic drink typically made from fermented grapes. Yeast consumes the sugar in the grapes and converts it to ethanol and carbon dioxide, releasing heat in the process. Different varieties of grapes and strains of yeasts are m ...
retailer founded by
Rowan Gormley
Rowan Gormley (born 8 June 1962) is a South African-born entrepreneur. He was appointed Group CEO of Majestic Wine PLC after the acquisition of Naked Wines in April 2015.
Early life
Gormley studied at Selborne College, East London and the ...
which launched in the
UK on 1 December 2008. In 2015, the company was purchased by
Majestic Wine
Majestic Wine is Great Britain’s largest specialist retailer of wine. The company employs over 1,400 staff nationwide, and operates more than 200 stores in the United Kingdom. The business is headquartered in Watford and has a distribution cen ...
, a British
brick-and-mortar
Brick and mortar (also bricks and mortar or B&M) refers to a physical presence of an organization or business in a building or other structure. The term ''brick-and-mortar business'' is often used to refer to a company that possesses or leases r ...
retailer.
History
Naked Wines was founded by Rowan Gormley on 1 December 2008.
In March 2010, Naked Wines announced a pricing model called Advance Bookings at the
London International Wine Fair
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major se ...
. The model discounts wine when ordered in advance.
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.
On 10 April 2015, Naked Wines was acquired by
Majestic Wine
Majestic Wine is Great Britain’s largest specialist retailer of wine. The company employs over 1,400 staff nationwide, and operates more than 200 stores in the United Kingdom. The business is headquartered in Watford and has a distribution cen ...
, and
Rowan Gormley
Rowan Gormley (born 8 June 1962) is a South African-born entrepreneur. He was appointed Group CEO of Majestic Wine PLC after the acquisition of Naked Wines in April 2015.
Early life
Gormley studied at Selborne College, East London and the ...
was named CEO.
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
Fortress Investment Group is an American investment management firm based in New York City. Fortress was founded as a private equity firm in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone. When Fortress launched on the NYSE in February 200 ...
. Majestic Wines PLC was renamed to Naked Wines and retained the shares of the original company.
Naked Wines is a publicly listed company. As of 2022, the CEO was former COO Nick Devlin.
Business model
Naked Wines' customers (called Angels) fund independent
winemakers
A winemaker or vintner is a person engaged in winemaking. They are generally employed by wineries or wine companies, where their work includes:
*Cooperating with viticulturists
*Monitoring the maturity of grapes to ensure their quality and to dete ...
from around the world, in return for wines at self-described "
wholesale prices." However,
the ''
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
'' 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". They currently ship wine throughout the United Kingdom,
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
, and
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
.
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.
See also
*
Virgin Wines
Virgin Wines Online Limited, trading as Virgin Wines, is an online wine retailer based in the United Kingdom.
The company was established in 2000 by Richard Branson's Virgin Group
Virgin Group Ltd. is a British multinational venture capit ...
*
Majestic Wine
Majestic Wine is Great Britain’s largest specialist retailer of wine. The company employs over 1,400 staff nationwide, and operates more than 200 stores in the United Kingdom. The business is headquartered in Watford and has a distribution cen ...
References
External links
* {{Official website, http://www.nakedwines.com/
Companies based in Norwich
Wine retailers
Online retailers of the United Kingdom