Purcari Wineries Plc has acquired a minority stake in the rapidly growing online wine retailer 8Wines.com, marking a strategic partnership aimed at expanding market presence and growth in the CEE wine industry.

Information on the Target

8Wines.com, founded in 2015 by entrepreneurs Vasily Dinkov and Sergey Nekipelov, is a rapidly expanding online retailer specializing in premium wines. Based in Prague, Czech Republic, the company has carved out a niche in the European Union and beyond, offering a diverse selection of high-quality wines. With a projected revenue increase to €4.5 million in 2021, representing a significant growth of 2.9 times year-over-year, 8Wines.com stands as a profitable entity within the competitive online wine market.

Industry Overview in the Czech Republic

The online wine retail industry in the Czech Republic is experiencing a robust growth trajectory, driven by increasing consumer interest in premium wines and the convenience of e-commerce. As consumers become more adventurous in their choices, there is a rising demand for quality wines, which has allowed retailers like 8Wines.com to thrive. Additionally, the COVID-19 pandemic significantly accelerated e-commerce adoption across sectors, including the beverage industry.

The Czech Republic's wine market benefits from both domestic production and imports, providing a diverse range of options for consumers. Traditional wine production in regions such as Moravia is complemented by