The success story of Wine21.com




After the rise and fall of dotcoms around the world, a few viable business models remain. Especially those that that tie internet users with real-world events.

Korea''s www.Wine21.com is among Asia''s most successful wine web portals. Their offering includes diversified channels such as an active Consumer Wine Club, B2B corporate sales channels, and expert wine advice.

In a recent interview during Korea''s Wine Expo, Moet Hennessy was able to ask Ms. Micky Choi, CEO of Wine21.com a few questions:

MH: Tell us how you started Wine21.com? How has it evolved over the years?

MC: Wine21.com started back in 1998, when the Internet was just beginning to take off in Asia. We had a staff of 6 at the time. We did everything from planning events, to PR, writing content for the websites, answering consumer''s questions and more!

Today, we make about KW30, 000 per month in subscription fees alone. We also have a corporate sales channel, which includes delivery and logistics. We put online consumers and corporate customers together with world famous brand names.

We also sell wine accessories, inform our viewers about Where-To-Buy, offer information & content about Featured Wines of the Month. Occasionally, we provide web hosting and web consulting for retailers and individuals that want to take their business online.

MH: What else do you offer?

MC: In addition to www.Wine21.com, we have other businesses within the group, for example www.Wineshop.co.kr, a Wine School & Education Online, Wine Travel, Best Wine Club, Corporate Channels, organizing WineMaker''s Dinners and more.

MH: Your business is thriving! May we ask about your revenue model?

MC: Presently 70% of our revenues are via paid online subscriptions (which include corporate sales) and 30% of the revenue comes from Online Advertising with various name brands.?

We see a lot of promise in the online advertising area, as our database is very high quality and targeted. Our website has over 300,000 pageviews per month, and over 13,000 registered members, all our members are keen about wine.

Internet use is also increasing in Korea. Most Koreans use broadband connection, which means that we can see interesting content in different formats. People will only come to our websites if they are genuinely interested in fine foods, wines & spirits.

Source : Moet Henessy Asia Pacific News