Virgin Wines has succeeded in attracting more customers to the at-home delivery wine service over Christmas, boosting sales over the festive trading period by 5% year on year.
There was a 40% increase in customers over the seven weeks to 26 December, the group said in a first-half trading update this morning.
Its growth strategy is also gaining momentum as revenues in the six months to 2 January rose 2% year on year to £34.7m, which the group said was a significant outperformance against the declining wider online drinks markets.
The board was “encouraged” by the progress made against the four pillars of the growth strategy and remained confident the full-year results would be in line with current market expectations.
“We are delighted to report a positive first-half performance in which we have delivered meaningful market share gains enabled by our growth strategy,” CEO Jay Wright said.
“It was particularly encouraging to see 5% year-on-year growth over the key Christmas trading period, driven by a 40% increase in customer acquisition, the continued growth of our commercial channel and a 92% increase in revenue year-on-year from our Warehouse Wines brand.
“With a strong balance sheet, agile sourcing model, a loyal customer base, and the imminent launch of our mobile app which we believe will drive further customer engagement, we remain confident in a full-year performance in-line with our growth expectations.”
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