The investment in Vinomofo is expected to rapidly accelerate CatchOfTheDay’s position in the online wine space. It forms part of the company’s strategy of building a portfolio of leading eCommerce brands across niche categories.
According to CatchOfTheDay co-founder Gabby Leibovich, the need for specialised knowledge and expertise led the retail group to pursue the investment.
“We wanted to shake up the wine category with something fresh and exciting and were very impressed with Vinomofo’s take on the space,” Leibovich said.
Vinomofo, founded by online wine entrepreneurs Andre Eikmeier and Justin Dry, is renowned for its expert recommendations and carefully curated wine deals.
“Andre and Justin not only have an incredible understanding of wine and the sector, they also understand the online world and what it takes to build a successful business in this space,” he added.
The investment is expected to give CatchOfTheDay a competitive edge in the online wine market by providing the company with an established supplier network and an engaged customer base. Since it was founded 12 months ago, Vinomofo has attracted 30,000 subscribers and currently boasts Australia’s largest social media community of wine enthusiasts.
The company has also established supply relationships with over 200 of Australia’s leading producers, ensuring a broad range of quality wines.
Leibovich said the investment made sense for both companies, as it will link CatchOfTheDay to an established and credible brand and provide Vinomofo with a platform to take its rapidly growing business to the next level.
“Through the deal Vinomofo can enjoy access to best in class systems as well as warehousing and logistics capabilities to support its growth, not to mention opening the door to over 2 million potential new subscribers through CatchOfTheDay’s database,” he said.
Eikmeier and Dry are similarly optimistic about the partnership.
“We wanted to ensure we found a partner that could not only help us achieve our growth aspirations, but also stood for the same principles that we do – quality product, genuine value, personalised service, and a little bit of fun,” the paid said.
“We’re looking forward to working with the Catch team to grow Vinomofo into the number one online wine destination in the country.”