The basicsCompany name: Fine & Rare Wines
What they do: The supply of fine and rare wines
The Boss: Graham Sumeray
The financialsLatest turnover (£,000): 60,296
Four-year compound sales growth (%): 30
Latest Ebitda (£,000): 3,075
The detailsFine & Rare Wines is a specialist wine merchant that is taking the fine wines industry by storm. Unlike its “old world” competitors, Fine & Rare’s is turning the industry digital, selling 50,000 different wines through its website. Unlike other merchants, Fine and Rare does not bulk buy wine which it then tries to sell on to its customers, it operates a marketplace model, buying and selling a much larger selection of fine wines (Berry Bros, for example, only stocks around 3,000 wines). “Because we have a unique model where we don’t buy stock, we can scale substantially buy driving customer acquisitions online and look after them much better,” says CEO Graham Sumeray. Sixty-five per cent of users are private, high-net-worth customers and the rest are trade buyers. Business is very international, with the firm selling to customers in more than 60 countries. Driven by the rising price of wine and through bringing the market online, Fine & Rare Wines has doubled turnover to £60.3m in four years with an Ebitda of £3.1m.
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