Just fifteen months after being acquired by Majestic Wines for £70 million, NakedWines announced the acquisition has fueled its crowdfunding platform’s growth over the past year. Majestic Wines revealed its year-end results in June and reported its annual results and showed strong growth thanks to Naked Wines, with sales exceeding $130 million and a maiden profit of $1.29 million.
Naked Wines CEO, Luke Jecks, commented that these results were not only achieved because of the investment from Majestic Wine but also because Naked notably stayed true to its core values and its original purpose:
“It has been an incredible year for Naked Wines. We have reached the £100 million in sales milestone and made our first ever profit but more importantly we have stuck to what makes us special. We started Naked Wines to make the wine industry a better place for everyone and we can now say we are making a difference to our winemakers and giving our customers an experience they can’t get anywhere else. Contrary to popular opinion being part of a PLC does not mean a business has to sacrifice its principles to drive shareholder growth.”
Jecks then added:
“I’m very proud of what has been achieved and very excited about our future now we have the backing of a brilliant Company like Majestic behind us.”