Paris, February 4th, 2021 – Following a year of double-digit growth, France’s favourite wine auctioneer* and global leader in online wine auctions, iDealwine is delighted to welcome new investor Capital Croissance. The deal was signed January 26th 2021, and marks a new chapter for the 20-year old online auction platform, which now boasts offices in Paris, Bordeaux, and Hong Kong, and ships fine wine to 60+ countries worldwide.
2020 was a record-breaking year for iDealwine, with 41 auctions taking place, meaning an auction catalogue launching roughly every 8 days full of the world’s most sought-after wines. Also selling at fixed price, iDealwine lists over 700 for partner properties for the first time. Despite the challenges posed by the global pandemic, total sales volume was over €33 million, up 15%. Sales growth was driven by a sharp increase in new customers, especially from younger buyers (under 40), the growth in direct purchases from wineries during lockdown, and the strengthening of the European market.
Capital Croissance, iDealwine’s new investor
With Capital Croissance’s investment, iDealwine’s focus will be on its international development and providing new personalised services to clients. LM Holding, which has supported iDealwine since 2014 has sold its stake in the business. “We wish to thank LM Holding for its support over the years, and its significant contribution to our double-digit growth year on year since 2015” says CEO Cyrille Jomand. The company’s three founders, Cyrille Jomand (CEO), Angélique de Lencquesaing and Lionel Cuenca (Deputy Managing Directors) remain the directors and retain their majority stake in iDealwine.
Doubling sales in five years
Capital Croissance, a French investment management firm specialised in funding fast-growing SMEs, joins iDealwine in its ambition to double sales in five years. This growth will stem both from France and internationally, particularly in Asia where iDealwine has an office (Hong Kong), and in the United States where the company plans to set up operations. In addition, iDealwine intends to strengthen its sourcing network; further expand the number of partner wine producers with a special focus on natural and biodynamic wines, which already represent 37% of sales.
Due to Covid-19 and exacerbated by lockdowns, curfew, and the closure of restaurants and bars; wine producers have had to look beyond traditional distribution. iDealwine has proved to be a platform that winemakers can trust and a fair channel from which they can sell their wines.
New services for wine lovers
Personal cellar consulting and cellar management services are on the cards for iDealwine. Now the world’s leading website for fine wine auctions, iDealwine is concentrating on providing new and improved services for wine enthusiasts. Services will be underpinned by a revamped app and new digital tools to support wine lovers in building and monitoring their cellar. Already available in French and English, iDealwine.com will soon be available to Italian and German clients in their own language.
CEO of iDealwine Cyrille Jomand says “We are delighted to announce our funding from Capital Croissance, which allows us to plan for iDealwine’s future growth with confidence. Driven by our values of “excellence in service of wine, those who make it, and those who share it”, I look forward to bringing iDealwine’s new projects to life with the support of our talented and passionate team.”
About iDealwine | Find the unfindable
With offices in Europe and Asia (Hong Kong), iDealwine is an online platform for buying, selling, and estimating fine wines. In 2020, iDealwine wine sales (auctions and fixed price) totaled €33 million. Specialist wine auctioneer and no1 in France*, iDealwine is now the world’s leading online platform for fine wine auctions.
In addition to the rare wines for sale, iDealwine also offers a vast selection of wines available at fixed price. This selection is continuously growing, with wines sourced directly from a network of over 700 partner domains and a range of old vintages bought from private cellars.
With its headquarters in Paris, iDealwine is trusted by 650,000 wine lovers all over the world, in 60+ countries for buying and selling wine. In addition to auctions and fixed-price sales, iDealwine has established a reputation for excellence in wine market analysis, through its annual Barometer publication, an exhaustive guide to the most sought-after wines and top bids – all broken down by major French wine regions.
*Source : Report of Conseil des Ventes Volontaires 2019
About Capital Croissance
Capital Croissance is an AMF-approved (Autorité des Marchés Financiers) investment firm with funds of over €500 million. Described as France’s biggest “entrepreneurs’ club”, it specialises in the management of members’ funds who want to invest, particularly during capital restructuring (MBO, OBO, etc.) and development capital of €1-50m in fast-growing French SMEs generating up to €250m in turnover.
Funded by a community of more than 200 private investors (entrepreneurs, families, business leaders, etc.) as well as by Bpifrance and AXA France, Capital Croissance is a value-added partner for entrepreneurs to help them grow faster and go further in their ambitions, in France and internationally. The funds managed by Capital Croissance have invested in around twenty SMEs including BIOBank (bone grafts), Altima ° (digital agency specializing in e-commerce), Babyzen (strollers for infants), SPAS Organization (trade fairs for the organic and wellness sectors). SNAL / Albus (software for district nurses), Teaminside (consulting in digital transformation) or Onatera (e-commerce of natural health products).