logo-loader
Dawine Ltd

Dawine acquires smart logistics platform, appoints new CEO to drive wine sales into China

The company's shares closed about 14% higher intra-day, at 0.8 cents.

wine glasses
Driving a change in the way that consumers buy wine

Dawine Ltd (ASX:DW8) has entered into an agreement to acquire Wine Depot, a business-to-business electronic marketplace for the wine industry.

As part of the acquisition, Dawine will appoint Dean Taylor, founder and owner of Wine Depot, as chief executive officer and executive director of the company.

In conjunction, Dawine is proposing to undertake a capital raising of $1.06 million.

Wine Depot

Wine Depot is a Sydney based company that plans to launch an integrated trading and logistics platform later this year that will allow sellers to source inventory from multiple suppliers and deliver their products directly to the consumer.

Leveraging a network of existing distributors warehouses and new ‘depots’ the technology platform aims to provide end-to-end distribution faster and cheaper than traditional delivery methods, with more choice and the ability to buy by the bottle.

Dean Taylor, founder and owner of Wine Depot

Dean Taylor says that over the last 10 years there has been an enormous shift in the way that consumers buy wine.

He added: ““With 50% annual growth last year taking it to $1 billion in trade for Australian wineries, China is a logical starting point for one of the first depots. 

“It’s an emerging market with no legacy wine distribution infrastructure, dominated by just a handful of well-known wine brands.

“Providing a platform that allows thousands of other Australian and New Zealand wine brands to access and develop a presence in that market is exciting.

“My vision is to help digitally transform the wine supply chain with a ‘smart logistics’ platform that allows sellers to expand their reach internationally and domestically, by providing access to inventory from thousands of suppliers and drop ship orders directly to consumers from strategically placed depots.”

Quick facts: Dawine Ltd

Price: $0.01

Market: ASX
Market Cap: $6.26 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Musgrave Minerals signs $18 million earn-in JV with...

Musgrave Minerals Ltd (ASX:MGV) managing director Robert Waugh updates Proactive on the signing of an $18 million earn-in joint venture agreement with Evolution Mining centred on the Lake Area of the Cue Project in W.A.  Evolution can earn 75% in the area by sole funding $18 million in...

30 minutes ago

2 min read