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Wiseoldmano

41 Posts.

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12/04/23

15:50

Post #: 67239256
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Originally posted by LD99: ↑

The Wine Society and Cracka Wines have merged businesses. Cracka Wines, which is owned by the Online Liquor Group, have combined business with Australia's first wine club, The Wine Society, in hopes the merger will place the businesses in a strong position to become the sector's number one independent online trader.

Online Liquor Group's Cracka Wines, My Wine Guy and Winegrowers direct is set to join forces with TWS Wholesale's The Wine Society, in a move that will grow both companies' foothold in the direct-to-consumer wine sector.

The new business will have a combined customer base of more than 400,000 customers nationwide, and existing leaders Lloyd Heinrich and Dean Taylor will run the new enterprise as joint CEOs. According to Heinrich, online sales are a strong growing market, one that the new business will be strongly focused on.

"With total revenue of $400.5 million in 2016-17, online sales represent just 4 per cent of the overall liquor market in Australia," says Heinrich.

Yep - seems like a bust!

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I miss bullish LD

KDY Price at posting: 2.7¢ Sentiment: Buy Disclosure: Held
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