Billionaire ex-Tory treasurer ups Chapel Down stake after shares collapse Retail The billionaire founder of city brokerage ICAP, Lord Michael Spencer, has upped his stake in English wine maker Chapel Down. The former treasurer of the Conservative party serves as a non-executive director of the Kent-headquartered company and now holds a 27.3 per cent stake. The increase comes after Lord Spencer bought 50,000 ordinary shares at [...]
Virgin Wines: ‘A decent Christmas was needed and delivered’ Retail Virgin Wines delivered a strong Christmas trading performance and outperformed the wider market, although revenue remained flat year on year. Revenue increased by 6.7 per cent year-on year during the six weeks to 27 December, 2024, the company told markets this morning. Sales rose nine per cent in December 2024 versus December 2023, reaching the highest level since the Covid-19 lockdowns, [...]
Naked Wines: Losses shrink but wine seller still has a way to go Retail Naked Wines has begun to stem its losses after a tough few years for the wine merchant, although the firm’s sales continues to shrink. The company told the London Stock Exchange this morning that its revenue fell by 10.2 per cent year on year in the 13 weeks ended 30 December, or 8.9 per cent [...]
British wine industry calls on Eurostar to bring back Kent services January 22, 2025 Britain’s wine industry has called for Eurostar to restart services from two Kent stations to boost the South East of England’s vineyards. The high-speed operator suspended operations from Ashford International and Ebbsfleet in the early stages of the pandemic. But it has faced mounting pressure to bring back the popular routes over the last year [...]
Naked Wines CEO: How to choose the right bottle of wine January 14, 2025 Meet the chief executive "fighting" to turn around Naked Wines, which enjoyed huge success during the pandemic but has been struggling since.
Naked Wines toasts progress as losses are slashed December 10, 2024 The boss of Naked Wines has said the brand is “in a better position, both financially and strategically” after slashing its losses during the first half of its financial year. The Norwich-headquartered company has reported a pre-tax loss of £5.6m for the six months to 30 September, 2024, down from the £9.7m loss it posted [...]
Hallgarten and Novum Wines gearing up for hiring spree following buyout September 3, 2024 Hallgarten and Novum Wines is gearing up for a hiring spree after the family that owned the business for more than 50 years sold up to the fine wine trader Coterie. The Luton-headquartered wine importer, which had been owned by the Pieroth family since 1972, said it would launch a recruitment drive later this year [...]
Happy hour: Green shoots for fine wine with ‘normalisation of demand’ after Covid April 14, 2024 The industry benchmark, the Liv-ex Fine Wine 100, rose by 0.4 per cent in March, the first rise in 12 months.