London Stock Exchange welcomes Virgin Wines to AIM
The Norwich-based company’s Ordinary Shares were admitted to trading at 8.00am on Tuesday 2nd March 2021, under the stock market ticker VINO. The Admission price was 197p, resulting in a market capitalisation of £110 million.
Virgin Wines is one of the UK’s largest direct-to-consumer wine retailers which has a reputation for supplying and curating high quality products, excellent levels of customer service and innovative ways of retailing. Working with a network of trusted winemakers, Virgin Wines aims to source, create and curate collections of award-winning and exclusive wines. The wine is sold alongside a growing range of beers and spirits, to its customers through its online subscription and pay as you go models.
The Company’s strategic focus is in the following areas:
• Investment in customer acquisition channels and digital marketing capabilities to drive revenue growth
• Take advantage of the trends in online/home delivery, subscription schemes and drive towards premiumisation
• Expansion of the Group’s beers and spirits offering
• Further developing the corporate offering and gift channel
• Progression of its warehouse efficiency programme
Jay Wright, CEO, commented: “We are delighted to be admitted to AIM today, signifying an exciting new chapter in the Group’s long-term development. We have enjoyed strong, consistent growth recently resulting in the Group delivering more than one million cases of wine to consumers during 2020. Underpinned by the strength of our customer proposition as well as the benefit of many positive consumer trends, we have a clear strategy to continue this growth over the coming years.”