Lot18 Expands Wine Flash-Sale Dominance To Europe, Acquires Paris-based Vinobest
Lot18 Expands Wine Flash-Sale Dominance To Europe, Acquires Paris-based Vinobest
Dec 9, 2011 6
(Fastcompany) - New York-based startup Lot18 is bringing its online wine business to Europe, acquiring Paris-based Vinobest for an undisclosed sum. The two-year-old company, often referred to as a sort of epicurean Gilt Groupe because it sells wine and gourmet food via online flash sales, now looks to tap into Europe's $100 billion market.
"Europe is the world's biggest wine market," says Philip James, cofounder of the invite-only service. "A lot of really good wine is made in Europe. Not only can we access consumers based there, but we can look for more wine that can be drank in Europe or shipped over here for the American market--a double benefit."
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