Online retailer Virgin Wines has announced plans to float on London’s Alternative Investment Market after enjoying bumper sales during the pandemic.
The admission is expected to take place on or around 2 March and value the group at around £100m.
As of 31 December, Virgin Wines had 169,000 active customers. It delivered over one million cases of wine to consumer’s homes during 2020 after pubs and restaurants were closed for much of the year.
Virgin Wines also operates B2B and gift sales channels and recently expanded its product range to include spirits and craft beers.
Jay Wright, Chief Executive of Virgin Wines, said: “Virgin Wines is a distinctive, fast-growing direct-to-consumer retail business with a unique wine sourcing model and a loyal customer base. We are delighted to announce our intention to list on AIM signifying an exciting new chapter in the group’s long-term development.”
He added: “Underpinned by the strength of our customer proposition as well as the benefit of many positive consumer trends, we have a clear strategy to continue this growth over the coming years.”
