- Digital Wine Ventures has shared its first quarterly report since appointing new CEO Dean Taylor
- The past five months have seen a rebranding, renaming, and relocation of the business, along with a major purchase and two big deals with distributors
- The company's core focus is rolling out its same-day-delivery service, WINEDEPOT
- Following the local WINEDEPOT roll-out, Digital Wine Ventures plans to capitalise on a partnership with Wine Storage and Logistics to expand into the Chinese market
- Shares in Digital Wine Ventures have spiked 14.29 per cent today following the report, now trading for 0.8 cents each in a $7.15 million market cap.
Digital Wine Ventures' new CEO Dean Taylor has officially completed his first full quarter with the company, and he has wasted no time getting things done.
In the company's most recent quarterly report, Digital Wine Ventures has revealed some of the company highlights since Dean's appointment.
In just over five months, the company has been rebranded, relocated, and redefined. Dean has used his veteran experience in wine start-up ventures to press and crush the company into a strong place in the wine industry.
Kickstarting the company's recent achievements was the purchase of Wine Depot Holdings, referred to as WINEDEPOT, which the company finalised in May 2019. WINEDEPOT gives Digital Wine Ventures the opportunity to provide end-to-end supply chain solutions in the wine market across the country.
WINEDEPOT's cloud-based technology platform — combined with a network of physical depots — will be used to reduce freight costs and shipping times for customers ordering wine online.
As such, it was even sweeter when Digital Wine Ventures signed a contract with Australia Post to establish the first four of these wine depots within Australia Post distribution centred in Sydney, Melbourne, Brisbane and Perth.
This means WINEDEPOT can give customers same-day-delivery, and makes Digital Wine Ventures the first company to begin digitally connecting Australia's $40 billion wine industry.
Dean said this partnership will be beneficial to both suppliers and consumers of Australian wine products.
"Our partnership with WINEDEPOT provides the wine industry with a specialised distribution service that will not only save money but also improve the consumer delivery experience," Dean said.
Digital Wine Ventures successfully took up an over-subscribed $600,000 share placement in May to help support its sudden growth.
On top of this, Digital Wine Ventures also teamed up with Wine Storage and Logistics (WSL) in July to establish a central storage and distribution facility for WINEDEPOT.
According to Dean, Artificial Intelligence and other predictive software will be used in each depot to keep track of supplies. When stocks are running low, they will be replenished from the WSL facility.
Moving forward, Digital Wine Ventures has China in its sights. WSL already sends 500 containers every year to China. As such, Digital Wine Venture believes that an expansion into the Chinese market will become the company's primary focus once the WINEDEPOT business has been fully rolled out in Australia.
Shares in Digital Wine Ventures have spiked 14.29 per cent today following the report, now trading for 0.8 cents each in a $7.15 million market cap.