Crurated, an online wine retailer, is expanding its presence in Asia, with founder Alfonso de Gaetano set to host in-person events in November. The company, which launched in London in 2021, is now operating in Hong Kong, Singapore, and Thailand, and has around 60 employees.
Crurated, an online wine retailer, is expanding its presence in Asia, with founder Alfonso de Gaetano set to host in-person events in November. The company, which launched in London in 2021, is now operating in Hong Kong, Singapore, and Thailand, and has around 60 employees.
Crurated is using a unique blockchain-based verification model to guarantee the authenticity and provenance of their purchases. De Gaetano told Inside Retail, “From day one, we wanted to establish a global distribution base. We are based in the UK, our warehouse is in Burgundy, and from there we ship our wines to all our clients. Around 40 per cent of our business comes from Asia.”
The company has strong relationships with producers in Burgundy, which has been the main driver of the fine wine market in Asia for the past seven years. De Gaetano said, “We are going to be ramping up events in Asia soon, so that our clients can meet the producers, learn about each wine philosophy and try some wines directly from the source. It’s important for us to make this next move in establishing this relationship in Asia.”
One of the company’s key differentiators is its use of blockchain, which has always been part of the business model. De Gaetono said, “This is true, not only for consumers, but also for restaurants. We launched a pilot program with only the best restaurants in Italy, most of them two or three Michelin starred ones. Our platform and curation made an instant impact.” He went on to say that the company only buys bottles of wine directly from producers.
De Gaetano, who spent more than a decade working at Google, started Crurated out of a sense of frustration at not being able to access some of the world’s top producers, and disappointment in the poor quality of wines bought at auction. He said, “One of the key principles I learnt at Google was – don’t just create technology just for the sake of building technology.
Sources: https://insideretail.com.au/business/crurated-reimagining-the-wine-industry-with-blockchain-and-live-auctions-202306
