Naked Wines Australia raises $1 million via “angel” network
Naked Wines Australia raises $1 million via “angel” network
Nov 14, 2012 6
(StartUpSmart) - Wine retailer Naked Wines has recruited more than 2,000 “angels”, who have raised $1 million to fund wine made by up-and-coming independent winemakers.
Naked Wines, founded in 2008 by former Virgin executive Rowan Gormley, has sought to reverse the traditional wine business model by using “angel investors” to finance winemakers.
The business says this enables the winemakers to focus on quality and reduces the overall cost of wine production. Naked Wines then passes the savings back to the angels, typically generating discounts of 25-50%.
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