Naked Wines plc
("Naked" or the "Group")
13th April 2021
Naked Wines is pleased to announce that Darryl Rawlings will join the Board with immediate effect as an Independent Non-Executive Director. Darryl will also succeed Ian Harding as Chairman at the forthcoming annual general meeting in August 2021, following Ian's previously announced intentions to retire this summer after serving on the Board for eight years.
Darryl is founder and CEO of Trupanion Inc, an industry-leading, direct-to-consumer (DtC), monthly subscription business that provides medical insurance for cats and dogs throughout the United States (US) and Canada. It is headquartered in Seattle, WA and is listed on NASDAQ ("TRUP").
Since founding the business in 2000, Darryl has led the Company's consistent growth, which generated $500 million in revenue in 2020 and now serves more than 860,000 enrolled pets. He brings extensive experience in operating and scaling a subscription DtC business in the US over the last 20 years. His insights and mentorship for the Naked executive team will be invaluable as the Group continues its expansion.
Ian Harding, Chairman, commented:
"We have conducted an extensive search process and I am delighted that Darryl has agreed to join Naked Wines at such an important moment in our growth journey. The Group has evolved beyond all recognition over the last five years - from a UK-orientated store-based retailer, into a fast growing and agile DtC subscription business with an entrepreneurial culture and strong focus on its huge US growth opportunity. Darryl's appointment adds valuable skills and experience, and a further US focus to the team."
Darryl Rawlings, Chairman-elect, commented:
"Naked is disrupting the wine industry through its unique business model and superior offering to both customers and winemakers. Nick and the team have created a compelling consumer proposition with attractive economics and high retention. I'm excited to join the Board as the business scales and leverages its position as a leader in the direct-to-consumer wine market."
Darry Graham Andrew Rawlings (51), holds or has held the following directorships in the past five years, all of which are current:
- Trupanion, Inc.
- Trupanion Australia, Inc.
- Trupanion Brokers Ontario, Inc.
- Gallant Pet, Inc.
- Baystride, Inc.
- Seattle Academy of Arts and Sciences
- Monte Cristo Marine LLC
- 2014 Nob Hill LLC
- KC McGraw LLC
- Kuyashii LLC
- Kuyashii Primary Equities LLC
- Kuyashii Secondary Equities LLC
- Cape Ross LLC
Mr. Rawlings does not hold any shares in the Group. There are no other matters which are required to be disclosed in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.
For further information, please contact:
Naked Wines plc
Nick Devlin, Chief Executive Officer
Shawn Tabak, Chief Financial Officer
David Flin / Carlton Nelson
Tel: 0207 597 5970
Jefferies International Limited
Ed Matthews / David Genis / Harry Clements
Tel: 0207 029 8000
Instinctif Partners (PR Agency)
Damian Reece / Guy Scarborough / Sarah Hourahane
Tel: 0207 457 2020 or 07931 598 593
About Naked Wines plc
Naked Wines connects everyday wine drinkers with the world's best independent winemakers.
Why? Because we think it's a better deal for everyone. Talented winemakers get the support, funding and freedom they need to make the best wine they've ever made. The wine drinkers who support them get much better wine at much better prices than traditional retail.
It's a unique business model. Naked Wines customers commit to a fixed prepayment each month which goes towards their next purchase. Naked in turn funds the production costs for winemakers, generating savings that are passed back to its customers. It creates a virtuous circle that benefits both wine drinker and winemaker.
Our mission is to change the way the whole wine industry works for the better. In the last year, we have served nearly 750,000 individual customers in the US, UK and Australia, making us a leading player in the fast growing direct-to-consumer wine market.
Our customers (who we call Angels) have direct access to over 230 of the world's best independent winemakers making over 1,000 quality wines in 21 different countries. We collaborate with some of the world's best independent winemakers like Matt Parish (Beringer, Stags' Leap) and 8-time Winemaker of the Year Daryl Groom (Penfolds Grange).