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Forbes Topline

Inside The Wine Club You've Never Heard Of That's Projected To Bring In $125 Million This Year

Forbes Topline

Forbes

Business News, News, Entrepreneurship, Business

4.86 Ratings

🗓️ 20 September 2024

⏱️ 20 minutes

🧾️ Download transcript

Summary

Neha Kumar is the cofounder and COO of Full Glass Wine Co., a direct-to-consumer wine retailer that owns brands like Winc and Splash Wines. In an interview with ForbesWomen editor Maggie McGrath, Kumar talks about her company's two newest acquisitions and how--despite not having a background in wine--she came to run a digital wine seller. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi everyone. I'm Maggie McGrath, editor of Forbes Women here at Nasdek

0:06.7

market site. The global wine industry is estimated at 330 billion dollars and sitting at the center of it is

0:15.0

Neha Kumar. She's a co-founder and CEO of full glass wine and they

0:20.0

have some news that they are sharing exclusively with Forbes right now.

0:23.2

Naha, thank you so much for being here.

0:25.4

Thank you for having me.

0:26.6

Before we get to the news, just to set the stage for someone who hasn't heard of

0:30.2

full-glass wine, what is it?

0:32.0

So we're a direct to consumer brand acquisition

0:35.3

management firm and so we started this business about a year and a half or so

0:39.6

ago and we ended up acquiring a series of businesses under one roof all direct to consumer

0:45.1

wine.

0:46.1

What are the businesses that existed before what you're about to announce?

0:51.0

So we had Wink which we acquired in June of last year. The second one was

0:55.0

Wine Insiders, which we acquired in October of last year. Then after that we got a

0:59.4

company called Splash and Bright Sellers.

1:02.9

And what is the news you're announcing today?

1:04.9

So the news that we're announcing today

1:06.6

is we obviously brought on Splash

1:08.5

and then also Scout and Seller, which we're very excited about.

1:12.2

And what is the difference between all of these brands and how does it create a cohesive company for you?

1:17.0

So the difference between the brands is essentially each one of these has a very specific type of consumer demographic. And so for us what we

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