The ‘Naked Fine Wine Bond’ will pay out gross interest of 7% per annum in cash or 10% p.a. in wine credits, with the option for investors to pull out their money after three years. The company hopes to raise £3m in its latest fundraising programme, which comes shortly after announcing a thirst-quenching $10m cash injection from WIV Wein International AG, an international group of direct wine selling companies.
The minimum investment for the bond is £500 and the maximum is £10,000. The cash will be used to support wine-makers as they ‘develop new fine wines’, the company said.
Naked Wines, founded by ex-Virgin executive Rowan Gormley in 2008, has more than 120,000 subscribers paying £20 a month in return for fine wines at discount prices. The business became profitable this year, making an annual operating profit of more than £1m following a 57% rise in sales to £34.9m.
'Winemakers don’t get the recognition or the rewards they deserve, and we want to see that change,’ CEO Rowan Gormley said last month. ‘In the restaurant industry, individual chefs have become much more famous than the restaurant. We’re helping to do the same thing for the wine business.’
We’ll raise a glass to that.