Digital Wine Ventures partners with world’s biggest wine marketplace, Vivino
Food & Agriculture
Food & Agriculture
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Digital Wine Ventures (ASDX:DW8) announced today that its wine ordering platform, WINEDEPOT, has entered into a partnership with “the world’s largest wine app and marketplace”, Vivino.
The Digital Wines share price increased by almost 7% after the announcement.
Under the partnership, wineries in Australia will be able to list their products on the Vivino platform – potentially tapping into Vivino’s 50 million user base worldwide.
The wineries will not be required to set up a new account with Vivino, instead their products will be listed on the newly integrated WINEDEPOT DIRECT platform that allows suppliers access to a broad range of direct-to-consumer sales channels, which the company says will be ready by Q2 2021.
The order fulfilment process will also be seamless for the suppliers, with WINEDEPOT picking up, packing up and delivering orders generated from Vivino.
Digital Wines CEO Dean Taylor is excited about the potential of the partnership, which he said will help Australian wine producers generate direct-to-consumer sales worldwide.
“If you want to understand what the future of online wine sales looks like, then Vivino is without a doubt the one to watch. Their mobile first approach is a key differentiator, which combined with 10 years of accumulated user generated content, including over 1.5 billion wine label scans, puts them in an enviable position.”
“For us, it provides us access to a powerful direct-to-consumer sales channel that allows the wineries we work with to generate incremental and high margin sales.”
The company was launched in 2010 by Danish founders, Heini Zachariassen and Theis Søndergaard – and is headquartered in San Francisco.
According to its website, Vivino has more than 1.5 billion labels on its platform, catering to more than 230,000 wineries across 17 countries.
Last year alone, the company helped 700 independent wineries sell over US$265 million worth of wines.
The Digital Wines Ventures share price, meanwhile, has risen by almost 600% over the last year. Unlike the large cap producer Treasury Wines Estates (ASX:TWE), the company is not highly exposed to China and has largely been untouched by the current political spat.