Naked Wines mulls Nasdaq listing

Naked Wines H1 revenue up 80%
Naked Wines CEO: "“Ultimately the most significant impact of COVID-19 on Naked Wines is not found in these interim results, but in the way it has accelerated the growth of the online wine category."
// Naked Wines aims for Nasdaq stock exchange listing
// Follows £95m sale of Majestic Wine’s 200-strong store estate
// Majestic Wine had changed its company name to Naked Wines in a push to become online-focused

Naked Wines is reportedly mulling a listing New York’s Nasdaq stock exchange after the sale of its Majestic Wine store estate last week.

According to The Sunday Times, Naked Wines chief executive Rowan Gormley told investors that a Nasdaq listing was on the cards after its 200-strong Majestic Wine store estate was sold in £95 million deal to CF Bacchus Holding Ltd, a vehicle controlled by US-based Fortress Investment Group.

In its US market, Naked Wines’ sales enjoyed a 21 per cent uptick in sales to £75.6 million last year, compared to the £71.8 million it recorded at home in the UK.

Although Gormley has reportedly attracted an growing number of US shareholders, a source speaking to The Sunday Times said Naked Wines would still retain its UK listing.

Naked Wines, which boasts over a million customers in the UK, US, and Australia, first revealed its plans to become online-focused earlier this year.

The alcohol retailer was initially acquired by Majestic Wine in 2015, but in March the latter said it would offload its store estate and rebrand itself to Naked Wines to reflect its rapid growth.

Gormley, who founded Naked Wines in 2009, was eventually appointed chief executive of Majestic Wine and went on lead the sale of its store estate to CF Bacchus.

Proceeds from that sale will be used to invest in Naked Wines.

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