Naked ambition for winemakers’ bond

Sep 2, 2013

(Telegraph) - Wine lovers can raise a glass as boutique retailer Naked Wines uncorks its latest fundraising scheme. The company, which acts as a venture capitalist for independent vineyards, aims to raise £3m by issuing its Naked Fine Wine Bond.

With a shorter maturation period than a vintage bottle, the bond lasts three years. At this point, bondholders can opt to receive annual gross interest of 7pc in cash, or 10pc in drinks credits to buy wine.

A third option allows investors to continue to earn the same interest with future redemption options at each subsequent anniversary of the bond’s maturity date.

Naked Wines now has more than 120,000 customers who pay £20 a month to provide the funds to invest in winemakers, in return for discounts.

Founder and chief executive Rowan Gormley said: “The great thing about the bond from an investor’s point of view is that not only does it provide a market- beating return and the choice to earn a coupon in the form of more than one asset class, but it also allows them to help small winemakers demonstrate they can compete with the big boys when it comes to fine wine.”

The bond is part of a greater fundraising exercise to expand into the US and Australia.


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