The online wine retailer reported $56 million in revenue.
Nesli Karakus , Senior Editor, Research
Wine merchant Wine.com Inc. found the right blend for its e-commerce business in fiscal 2011. The web-only retailer reported that it reached $56 million in sales for the year ended March 31, a 25% increase from the prior year.
Wine.com, No. 239 in the Internet Retailer Top 500 Guide, also reported that it turned a profit for the first time, but did not disclose the amount.
The company didn’t disclose exact figures, but based on its growth Internet Retailer calculates 2010 sales to be about $45 million.
Wine.com, a privately held company, reported that it ended the year with 36% growth in the fourth quarter compared to the same quarter in fiscal 2010. The company didn’t disclose exact figures for the final quarters of 2011 or 2010.
“The Wine.com team has been totally focused on delivering a great experience to our customers,” says Rich Bergsund, CEO. “Our financial results are a byproduct of this focus, and we look forward to growing further by offering an increasingly compelling blend of selection, service, value and information that’s impossible to get in a store.”
It has been a busy year for Wine.com. In November, the company launched free mobile apps for the iPad and iPhone, which have generated 7% of sales from customers ordering through those devices, the company says.
The company also rolled out a flash-sale site, WineShopper.com, which offers daily discounts on wines to e-mail subscribers. The company has also expanded its inventory of high-end collectible wines priced more than $75 per bottle. Wines.com says that category’s sales grew by 60%.
The company also launched a flat-fee shipping program for which customers pay $49 annually to receive unlimited deliveries throughout the year.