It’s an exciting time for New Zealand wine with exports forecast to hit $2 billion by 2020, up from $1.33 billion in 2014. Invivo has become one of New Zealand’s fastest-growing wine brands, with 207% sales growth since 2011 and named in Deloitte’s Fast 50 companies in 2012. Invivo is making wine that’s winning fans (and medals) around the world.
Invivo, founded by Tim Lightbourne and Rob Cameron, expects turnover this year of more than NZ$5 million, with 75 per cent coming from export markets, including Canada, Japan, Australia and the UK.
Invivo is now raising funds to take their growth to the next level, and they’re doing it through kiwi equity crowdfunding platform Snowball Effect. Invivo’s offer to investors went live to the general public on 18 March 2015, and they are aiming to raise up to NZ$2 million.
Invivo will use the money for international growth and is gearing up for a possible IPO through the new NXT secondary market next year.
“We’ve been watching Snowball for a while and been really impressed with their approach,” Lightbourne said. “The Snowball team are thorough and professional, they have done their homework.”
“I like the fact that with crowdfunding you get potentially two or three hundred-odd ambassadors around the country, because the people who invest in your company really believe in it and will do what they can to help it succeed.”
Invivo products sells in 17 countries and Lightbourne said it would be completing its launch in the United States this year. Shares will be issued at $1 each with a minimum purchase of 1000.
Invivo’s approach to marketing has gained almost as much attention as their winemaking, and even UK TV star (and Invivo Sauvignon Blanc fan) Graham Norton has joined Invivo as a shareholder and hands-on winemaker. Invivo has diversified their business with Spritzers and are leading the charge with a new take on the 80s classic. Scarlett’s Spritzers combine delicious fruit flavours and quality wine to create a sparkling drink that’s flying off shelves.
“We’ve made the most of what we had but now it’s time to give it that extra kick,” Lightbourne says. “If we hit that $2 million cap we’ll be the largest crowdfunded company in New Zealand history.”
Invivo have also been innovative in their marketing of the offer on Snowball Effect, using billboards to attract investors, which is the first time the traditional medium has been used in this way.
Snowball Effect is New Zealand’s largest equity crowdfunding platform, having raised over $4 million in the last six months since its launch. In its most recent campaign, drone company Aeronavics far exceeded its $750,000 goal, closing at $1.5 million.
“We’re excited to be working with Invivo on its offer” says Josh Daniell from Snowball Effect. “This is the first wine company we’ve had raise, and it’s a company that has 108 medals and 4 trophies under its belt and ambitions for a turnover of $25 million by 2020”.
Invivo’s offer will close on 13 April or if the $2 million funding cap is reached, whichever comes first.
For more details, check out the offer on Snowball Effect.