Liverpool wine venture ThinK Wine Group starts to recover after an alleged investor fraud in the US and theft of stock in Italy left it in ‘financial difficulties’. Tony McDonough reports
ThinK Wine Group founder Katherine Jones says the Liverpool business is now starting to recover after being hit by international fraud and theft early in 2023.
Katherine, who founded ThinK in 2019, claims the business was targeted by a “fraudulent investor” in the US who promised cash but didn’t deliver. She also says she uncovered theft of her stock in Italy.
These led to the firm being hit by “financial difficulties”. But, after a strong third quarter, Katherine says the business is now getting back on track.
She said: “It has been a very challenging year so far, but I’m absolutely delighted to have managed to grow the business and the team. I’m very much looking forward to what 2024 will bring.”
Katherine saw a gap in the market for a “healthier wine option” which led her to create the ThinK Wine Group in the summer of 2019.
After multiple trips to Italy and a lot of fine tuning, a vegan, organic, reduced calorie Prosecco and Pinot Grigio Sparkling Rose were created and ready for sale. It now has a large number of online followers and is popular with wine connoisseurs in California, New York, New Jersey and Florida.
While Katherine continues to pursue the US investor via the legal route she has secured a number of new corporate contracts. She has also hired a new business development manager and has strengthened the board with a number of appointments.
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They include hospitality expert and entrepreneur Steven Hesketh, Andrea Edwards, who is an established and recognised business coach, mentor and strategist, and Jim Forshaw, who brings his wealth of financial and managerial expertise to the board.
Steven said: “Not only does ThinK Wine have a fantastic set of products, but I love the brand, its ethos and the team behind it.
“I’m looking forward to helping to grow the business and see ThinK wines stocked in more local, national and international venues over the next 12 months, through collaboration and the continuing hard work.”
Katherine added “With the recent appointment of our new BDM, Bella Lewis, the growth plans we have tried to move forward with are now becoming a reality, which is brilliant for the products and our brand.”