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 16 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
- Will Coca-Cola Co’s Dunkin’ Donuts move pay off?
- Five ways small brands can beat big players
- Heineken's Q3 2016 results - Preview
- Alcohol brands and the 'better-for-you' trend
- Ten ways to successfully target older consumers
- Diageo weathers Thailand alcohol ban
- Heineken's YTD performance by region - Focus
- SWA's David Frost to leave for foreign office role
- Stock Spirits appointments provoke investor unrest
- Anheuser-Busch InBev's Q3 & YTD results - Preview
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends