Splash Wines Announces Record November Revenue
EAGLE, Idaho--(BUSINESS WIRE)--Dec 3, 2018--Splash Wines, the innovative, direct-to-consumer, wine marketing company, today announced that revenues for November 2018 exceeded $1.44m; a record month more than double revenue for the same period one year ago. The company, founded in December 2014, reached breakeven in only 10 months (October 2015) and has now been profitable for over three years running.
The direct-to-consumer wine market in the USA is significant, accounting for almost 10% of total wine sales, last year reaching over $2.5 billion. Millennials are now the largest consumers of wine, which bodes well for the segment since they will be around a long time and are very comfortable making online purchases. The Splash model features transparent pricing, free shipping and economic 15 bottle cases.
Splash attributes its success to date to a number of factors. “The concept resonates with consumers that are looking for transparency in terms of pricing and quality. At the same time, they want to be assured that there is a knowledgeable customer service team that will take care of them should they ever have an issue and Splash makes that guarantee,” stated Robert Imeson, Splash Founder and CEO. “We are excited to be disrupting the market in such a profound way and look forward to continued growth in 2019.”
One of the initiatives that is fueling optimism at Splash is the B2B partnership executed with Staples Business Advantage. In an agreement that the company calls groundbreaking, Splash Wines will be available to over 80,000 Staples business customers. The roll-out is scheduled to commence later this month in 20 states, and then expand in 2019.
To help manage the ongoing growth, Splash Wines is in the process of finalizing a $500k Reg D equity offering which is closing this Friday, December 7. Investors can invest a minimum of $2,500 to participate. SeedInvest, a leading US crowdfunding platform, is managing the offering which is open to accredited investors only. Splash will use these funds to expand the customer acquisition program heading into 2019. To learn more about how to be a part of this growing company click on https://www.seedinvest.com/splash.wines/series.a2.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181203005930/en/
CONTACT: Robert Imeson
KEYWORD: UNITED STATES NORTH AMERICA IDAHO
INDUSTRY KEYWORD: ONLINE RETAIL RETAIL FOOD/BEVERAGE WINE & SPIRITS
SOURCE: Splash Wines
Copyright Business Wire 2018.
PUB: 12/03/2018 03:23 PM/DISC: 12/03/2018 03:23 PM