Business

Brazil's e-commerce firm Wine applies again for public listing

The company earned BRL 450 million, a growth of almost 40% compared to 2019, with 40% of its revenue from the wine's subscription club

Photo: REUTERS/Regis Duvignau
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  • The company had filed for an order last year, but decided to suspend it citing “instabilities in the financial market and the company’s fast and steady pace of growth”;
  • Besides to its online presence, Wine has recently opened brick-and-mortar stores in different regions in Brazil.

Brazilian wine subscription club Wine has applied for registration as a publicly-held company, resuming plans to explore financing tools in the capital market, including an eventual offering of shares (IPO), to support the accelerated pace of growth of the plan of the business.

The company had filed for an order last year, but decided to suspend it citing “instabilities in the financial market and the company’s fast and steady pace of growth”.

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Last year, the company earned BRL 450 million, a growth of almost 40% compared to 2019, with 40% of its revenue from the subscription club, while 60% of e-commerce sales are already originated in the app.

Founded in 2008 and currently with more than 240,000 partners in Clube Wine, the company claims that it has been developing new fronts, such as its B2B and direct sales unit, “which are in a fast growth rate”.

Besides to its online presence, Wine has recently opened brick-and-mortar stores in different regions and today has eight units – three in São Paulo and others in Campinas, Recife, Belo Horizonte, Curitiba, and Porto Alegre. The forecast is to open five more physical stores in the first half.

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“To maintain its expansion and continue to consolidate the market, the company will seek funding sources for organic and inorganic movements,” said Wine, which presents itself as the largest wine subscription club in the world.

(Translated by LABS)

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