Naked Wines PLC, formerly Majestic Wine PLC, is a United Kingdom-based company that operates in the wine industry. The Company funds independent winemakers, who make exclusive wines. It operates through its Naked Wines segment. The Naked Wines segment is a customer funded international online wine retailer. Its subsidiaries include Naked Wines International and Nakedwines.com Inc.
Naked Wines was founded by Rowan Gormley on 1 December 2008.In March 2010, Naked Wines rolled out a pricing model called Advance Bookings at the London International Wine Fair. The model offers customers savings by ordering their wine in advance, with greater discounts the sooner the wine is ordered.
In May 2011, Advance Bookings was changed to a more direct approach titled Naked MarketPlace. MarketPlace allows prospective and established Naked Winemakers to promote their wines at a discounted price to Naked Wines' customer base. Customers can bid on a proposed case if they want it, and once the market exceeds a minimum volume then the deal goes into effect and the wines are shipped and delivered at pre-determined future dates.
On 10 April 2015, Naked Wines was acquired by Majestic Wine and Rowan Gormley was appointed CEO of the enlarged group.
Naked Wines' customers (called Angels) fund independent winemakers from around the world, in return for wines at self-described "wholesale prices". However, the Financial Times notes that most wines sold by Naked Wines are not available on the retail market, "making direct price comparisons virtually impossible", and most wines are priced "close to usual retail price". They currently ship wine throughout the United Kingdom, United States, and Australia.Customers review their wines and interact with other customers while online; reviewers give the wines Likert-scale style scores out of five, a Yes/No to whether they would buy the wine again and a textual description. When prospective buyers look at a wine's page they will see previous costumers' reviews.
Source: Reuters
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