Naked Wines full-year sales rise as it retains pandemic customers

Naked Wines full-year sales rise
Repeat custom has help drive up sales at Naked Wines
// Naked Wines sales jumped 5% in its full year, and 77% on a two-year basis, driven by repeat customers
// Adjusted EBIT hit the “low-single digits”, according to the retailer

Naked Wines full year sales rose 5% year on year and 77% on a two-year basis as repeat customers boosted performance.

The online wine retailer said sales retention was 80%, which was stronger than expectations and sales from repeat customers increased 13% year on year.

Naked Wines is a direct-to-consumer (DTC) business and connects almost 1 million customers directly to winemakers. Customer, or angels as Naked terms them, numbers were up 9% to 964,000 over the year.

READ MORE: Naked Wines posts £159m revenue as it stockpiles booze ahead of Christmas

CEO Nick Devlin said: “Our unique model offers a win for both winemakers and consumers and is backed by attractive and well-proven unit economics. 

“I am especially pleased to see the improvements to our customer experience and product range reflected in sustained retention rates above our expectations.”

Profits were “low-single digits” on an adjusted EBIT basis in the year to March 28, which chief financial officer Shawn Tabak said was in-line with expectations.

Tabak added: “I’m pleased that Naked delivered growth following our step change in scale in FY21, and we are well positioned to take advantage of our long-term growth opportunity in the USA.”

Naked Wines revealed that its US sales were soaring last year and it was already the largest DTC wine company in the country.

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