Naked Wines invests $150k in Randall Grahm
Online retailer Naked Wines has invested $150,000 to launch two wines with Randall Grahm.
The capital was raised by the company’s customers - or angels. Angels pay a monthly subscription for their wines, which is invested in winemakers, in return for discounts on the website.
Grahm is the man behind Bonny Doon winery in California, where he champions Rhone varieties.
Since Grahm‘s new wines are crowdfunded by his customers, there are no marketing or sales costs, according to Naked Wines.
The company said in a statement that the “cost of selling is so high that it can often double or triple the price of a bottle”.
Grahm added: “I honestly don’t understand the implications. I don’t know if I’m competing against myself, but the wine world is changing. There has been an enormous proliferation of brands and the consolidation of distribution. There is a finite limit to how much we can produce under Bonny Doon. With Nakedwines.com I have the freedom to experiment, the flexibility to blend, and the fact that they pay for the grapes helps me big time.”
Wines include Close But No Cigare and Syrah/Viognier which are available exclusively through NakedWines.com from this month.