Jane Imrie

Naked Wines toasts international success following 68% sales growth

Online wine retailer Naked Wines has experienced “significant growth” according to its latest trading update.

In its full year results for the 52 weeks ending March 29 2021, the company reported a 68 per cent increase in total sales to £340.2m, attributed to an accelerated channel shift to online wine purchasing.

The firm saw the largest growth in the US market, where sales grew by 78 per cent to £161.7m compared with the previous year.

Nick Devlin, group chief executive, commented: “Since inception, our mission at Naked has been simple - to disrupt the wine industry for the benefit of customers, our winemakers and our people. In FY21, we made significant progress towards this objective.

“It is clear to us that the pandemic has served to underscore the value of our business model in connecting winemakers and consumers directly and proven the opportunity before us.

“As we head into FY22, we are focussed on investing in the opportunity and executing against our strategic initiatives, which are i) to invest in New Customers at attractive payback, ii) to enhance the customer proposition to improve LTV, iii) to leverage our scale to enhance value creation, and iv) to broaden and enhance our go-to-market strategy, driving growth.”

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