Naked Wines continues strong sales performance as chairman steps down

Naked Wines has continued its strong trading during the Covid-19 pandemic, with sales growing 67% year-on-year in June. This means total sales for Q1 of 2021 is up 77%, highlighting the ongoing consumer shift to eCommerce during the crisis.

The group added: “The board continues to believe that Naked is ideally positioned to be a long-term winner from the inflection in consumer demand for online wine as a result of the Covid-19 pandemic.”

In its trading update published today, the online wine retailer also revealed its chairman, John Walden, will be stepping down from the role due to personal reasons following the company’s annual general meeting on 6 August. He will be replaced as chairman by Ian Harding, who is currently senior independent director until the summer of 2021 when Harding is scheduled to retire. Harding played a vital role in the acquisition of Naked Wines by Majestic Wine plc in 2015.

The process will soon begin to recruit a long-term replacement chairman.

Walden said: "It has been a privilege to lead Naked through its transformation to a pure-play online business, its continued growth and recent successful response to the Covid-19 pandemic. It was a difficult personal decision to step down at this juncture however, it is the right decision for myself and Naked Wines. I leave the business in a strong position to grow and to realise its promise for an extraordinary future. I wish the team every success in the years to come."

Last month the online wine retailer revealed its revenue grew 14% year-on-year to £203 million in the 12 months to 30 March 2020 as it transitioned to an online-only model.