Entrepreneur launches e-commerce wine retailer on Crowdcube with £525k target
E-commerce service Winebuyers.com has been launched on crowdfunding investment platform, Crowdcube, with a target of raising £525k.
Established in 2016 by Ben Revell, Winebuyers is based on Oxford Street in central London and has a team of 10.
Winebuyers does not mark up prices or charge commission on any item sold, enabling customer to buy wines at exactly the same price as they would from the supplier.
Winebuyers.com currently lists 27,000 bottles from 38 countries worth £10.5m. Prices range from £5 to a £48k Rose Gold 1996 Dom Perignon.
The business makes revenue from charging suppliers a small monthly subscription fee to be listed on the site. Custom built API’s automate the entire process.
Ben Revell, founder and managing director, said: “Our aim at Winebuyers is simple: we’re using technology to bring the wine industry into the 21st century. We cut out the middleman and connect wine lovers directly to the best vineyards and merchants in the world.
“We bridge the gap between supplier and end consumer, enabling customers to purchase exceptional wine direct from the source, for no extra cost.”
Commenting on the UK wine industry, Ben added: “Wine is no longer just for the connoisseur. The UK has over 30 million regular wine consumers across all regions, ages and social classes, with 77% of UK adults buying goods or services online in the last 12 months.
“The future of the wine market is online and smaller wineries and merchants are looking to e-commerce to maximise their margins.”
Ben is a serial entrepreneur, and Winebuyers is his third business venture. Ben’s background is in watches, diamonds and high end luxury goods. In 2013, Ben set up a company buying and selling wines which gave him the idea for Winebuyers.
Ben added: “I set up a company to satisfy my own interest in investing in fine wines and champagnes.
“It was as a result of this particular venture that I identified a gap in the market which led me to establish Winebuyers.”
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