A Bigger and Better Business

FY21 has been a breakthrough movement for Naked Wines. The year has accelerated growth in both our business and the markets in which we operate. We end the year a larger, stronger business, as we: 

  1. Have seen an unprecedented channel shift to online, transforming the online wine market, and marking an inflection point in Naked’s history
  2. Enhanced our economics, underpinning our medium term ambition to grow sales at c.20% p.a.
  3. Grew our base of active Angels by 53% to a total of 886,000, with improved retention rates
  4. Magnified our appeal to winemakers, we have worked with over 60 new winemakers in the year and have supported independent producers through this year’s challenges by campaigns such as the COVID Relief Fund and Stop the Squeeze


We delivered strong growth in FY21. Growth accelerated in all three of our geographies, particularly in the US, which is our largest market opportunity and where our offering is most differentiated. Key drivers of our performance in the year are:

  • Total sales growth of 68%, with 78% growth in the US. The US now represents 48% of total sales and is our largest market
  • Investment in New Customers up 113% to £50.0m (FY20: £23.5m) with a 5-year forecast payback of 3.0x
  • Repeat customer contribution growth of +83% to £84.9m, with an enhanced margin at 30%, up +320bps
  • Adjusted EBIT loss of £(1.5)m

Looking Ahead

We are increasing our focus on the US segment, which represents our largest market opportunity with a $20 billion total US addressable market and is expected to drive continued sales growth. We are well positioned to execute against our strategic initiatives designed to:

  • Enhance the customer proposition to improve Life Time Value
  • Leverage scale to enhance value creation
  • Broaden and enhance go-to-market strategy

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