UK: Virgin Wine prepares float with £10m investment
Virgin Wine, the UK home delivery internet wine business, has announced a £10m investment scheme that will fund preparations for a possible flotation in 2002. Furthermore, it is believed that Anderson Consulting, the global management consultant, is taking a 10% stake in the company.The initiatives come only four months after the launch of the company in June. Since then Virgin Wine needed to prove it was attracting the right kind of customer as well as delivering wines on time.Although the average wine drinker spends £3.30 on a bottle of wine, Virgin claims that its customers are already spending double that amount. The company hopes to break even by 2002 and plans to have sold 50,000 cases of wine by the ned of this year.The UK's Financial Times also reported that Virgin Wine is thought to be considering a bid for Oddbins, the off-licence chain, however Virgin would not comment on the rumour.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Whatever happened to binge Britain? - comment
- How to turn a domestic spirit into a global brand
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- This week in spirits & wine
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Sazerac sues Brown-Forman over Tennessee Fire
- Craft, imports near 50% share in US on-trade
- Beam Suntory's Laphroaig Brodir - NPD
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts