Venulum’s Retail Wine Business Enjoys 27% Sales Increase
Venulum has reported a 27% increase in sales figures during the last quarter for its wine retailer Cadman Fine Wines
Venulum set up the retail business in 2004 under the Cadman Fine Wines brand to compliment the wine investment side of the business.
Giles Cadman, Chairman of Venulum Group, said, “The increase we are experiencing is due to an expanding customer base, together with increased internet sales driven by unique promotional offers. We were also short listed by Decanter Magazine for the UK online wine merchant of the year which no doubt helped broaden our visibility”.
Giles Cadman believes that what really sets the business apart from other fine wine merchants is the ability of his clients to order fine and rare wines by the bottle. Clients are also able to make up their own cases and choose from themed mixed cases – offering a premium selection of wines. Giles shares a passion for fine wines with his clientele; from 1st growth Bordeaux, Grand Cru Burgundy and Super-Tuscans, to new wines from newcomers to wine production.
“Having a retail presence also benefits our investment clients who invest in forward purchase agreements, En Primeur and wine contracts,” explains Cadman. ‘When the wine contracts become physical we have the opportunity to sell back to the trade or to sell retail through Cadman Fine Wines and retain more of the margin for our investors” he adds.
A majority of Cadman Fine Wines’ clients come from the web and the site is continuously developed to take advantage of the latest technology. A lot of traffic has been driven by very good reviews from highly regarded independent wine websites
Mike King, Director of Venulum En-Primeur and Wine Limited, has also seen the benefits of having a retail business when dealing with negotiants in Bordeaux and Burgundy. King heads the team who make the annual pilgrimage to the French tastings to buy on behalf of Venulum Wine Limited, Venulum Wine LLC and Cadman Fine Wines. “Negotiants want profile for their product and so we are very attractive to them because we market their wines” he explains. “We get preferred status on most allocation lists now which gives us significant buying power” he adds.
The Venulum Group is a multinational private wealth management firm headquartered in the British Virgin Islands. The Group manages the wealth of high net worth individuals, and specialises in alternative investments often not available to the general public. Venulum helps high net worth individuals balance their portfolios.
The Venulum Group was formed in 2002, and has expanded to include offices in four countries, with service offices in a further two. Since 2002 Venulum’s client base has expanded rapidly, and now has a substantial number of United States based clients.
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