Naked Wines full-year sales rise as repeat customers boost performance

Naked Wines has reported a 5% increase on year-on-year sales, alongside a 77% rise on a two-year-basis as it retains repeat pandemic customers.

The online wine retailer revealed for the fiscal year ended 28 March 2020, sales retention was 80%, which was stronger than its expectations.

Sales from repeat customers also increased 13% year-on-year.

The number of customers, or angels as Naked brands, were also up 9% to 964,000 over the year, the direct-to-consumer (DTC) business revealed.

READ MORE: Naked Collective hits £5.3 million for US expansion

“Our unique model offers a win for both winemakers and consumers and is backed by attractive and well-proven unit economics,” CEO Nick Devlin said.

“Our results reflect the hard work and high-quality execution of our teams around the globe, and I am especially pleased to see the improvements to our customer experience and product range reflected in sustained retention rates above our expectations.”

According to Naked Wines CFO, Shawn Tabak, the figures were in line with expectations, despite profits hitting “low-single digits”.

He said: “I’m pleased that Naked delivered growth following our step change in scale in FY21, and we are well positioned to take advantage of our long-term growth opportunity in the USA.”

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