The Wine Collective has completed a successful $8.3million capital raising to fund its growth strategy.
The digital wine marketplace is the result of the merger of From the Producer, The Wine Society, Online Liquor Group Australia (which included Cracka Wines), Wine Growers Direct and My Wine Guy.
The start-up now has a database of more than 500,000 people, with sales surging more than 75% during COVID-19.
CEO Lloyd Heinrich (above) told The Australian Financial Review the focus for the business moving forward was on promoting its brand, investing in its back-end technology and building out its physical infrastructure.
“We have a vision for our business and the brand that part of our purpose is to bring to life those hidden gems people can’t find elsewhere,”
“We want to offer more support to those small and medium-sized producers that can’t get coverage in traditional retail.”
The Wine Collective also recently announced a partnership with French wine merchant CVBG Bordeaux, which will give Australians access to a new range of premium wines.
“We are proud to partner with the Wine Collective to bring some of the world’s best rare and premium wines to Australia,” CBVG CEO Mathieu Chadronnier said.
“The world-first partnership has been forged based on a mutual appreciation and understanding of fine wine. Our global connections with the best international winemakers will provide discerning Australian wine lovers unprecedented access to the world’s leading premium wines.”
The Wine Collective currently has 7000 wines on its marketplace, with the CVBG deal anticipated to raise that to 10,000 by the end of the year. Heinrich aims to have more than 50,000 wines on the marketplace within the next three years.