2020 Year in Review

A year of change, challenge and opportunity

2020 was an eventful and positive one for Naked Wines as we:

  1. Sold Majestic Wine and Lay & Wheeler, enabling them to pursue their own growth strategies while raising funds for Naked Wines
  2. Began to focus our resources and investment in Naked Wines, which saw 13.7% revenue growth in the year
  3. Completed a transition in the senior leadership team
  4. Responded quickly to early stages of the COVID-19 pandemic to keep our staff, suppliers and customers safe, keep our supply chains open and serve the increased demand we saw across all of our markets


The Naked business responded to challenging conditions and performed well through the 2020 financial year, improving as the year progressed to deliver:

  • Key drivers of performance in 2020
  • Sales growth of 14%, with 20% growth in the US
  • Investment in customer acquisition up 20% to £22.9m (FY19: £19.1m) with forecast payback of 4.9x
  • Repeat customer contribution growth of £5.9m +14.7% to £45.7m
  • Loss before tax from continuing operations of £5.4m (FY19: £9.9m) from the Group’s continuing business driven by stronger trading and reduction in adjusted items

Looking ahead

We exit FY20 with the simplification of the business complete and Naked having delivered another year of healthy growth through a period of transition. Naked enters FY21 with good momentum and the perfect platform to prosper in an uncertain environment:

  • Differentiated proposition delivering superior value to customers
  • Clear and proven investment strategy
  • Large US market opportunity
  • Strong balance sheet