Naked Wines sales up
For the first time Naked Wines have reached £100 million annual sales. The crowd funded wine seller was merged with Majestic Wine in April last year. News for the group as a whole has been more mixed however. Since the merger first half profits up to September 2015 showed profits were slashed from £8.5million to £4.3 million. Prior to the acquisition, Naked Wines had made a loss of £3.3m due to its cash heavy model and investments in acquiring new winemakers.