The world’s first fine wine investment app Vindome sets investors’ palates tingling with UAE launch
Monaco-based wine investment company Vindome is ushering in a new era in the centuries-old tradition of fine wine connoisseurship, thanks to smart technologies that allow investors – both beginners and veterans – to combine their passion for fine and rare wines with proven return on investment
UAE, May 29, 2023
Vindome, the world’s first fine wine investment and trading app, has finally become available for download in the UAE.
The Monaco-based wine investment company is much sought after by wine traders, collectors and connoisseurs alike. The app uses cutting-edge digital technology that makes it easy and safe to invest in collectable wines. Wine investment was an estimated $5.1 Billion market in 2018, and is projected to grow by an incredible 54% by 2024. The industry has been ranked by Knight Frank as the second best-performing passion asset after art, showing double-digit growth over the past five years.
“We are very proud to be able to launch Vindome in Dubai following a huge success in Italy, France, Monaco, the UK and Sweden last year,” says Ingrid Brodin, CEO and Co-Founder of Vindome. “The wine trading market is booming, generating higher returns than other assets, and is less volatile than traditional financial markets. For this reason, we are convinced that Vindome can offer a new approach to investments. We want to democratise the wine investment market, making it accessible to first-time investors, while also offering an effective and functional tool for those who are more experienced. Through our app, we provide the opportunity to create and manage your portfolio in a modern, secure and transparent way. From start to finish, the experience is intuitive and user-friendly.”
Vindome allows users to approach wine investment in two ways. The first, ‘Collections,’ refers to wine assortments specifically curated to get new investors started on their wine investment journey. Wine Collections are presented in an intuitive manner to suit varying budgets and investment timelines, so users can start building their portfolio with minimal assistance. The second, the Vindome Live Market – a digital marketplace where investors can browse through hundreds of buy and sell offers with no minimum investment required.
Moreover, every single case of wine traded on the Vindome platform is inspected and approved, then labelled and sealed with an NFC (Near Field Communication) tag to ensure total security. Additionally, all transactions are recorded using blockchain to guarantee authenticity.
Vindom’s UAE launch is timed fortuitously for investors looking to start or enhance their wine portfolio. The May-June period is when the French châteaux – which constitute the epicentre of the collectable wine trade – release their En Primeur wines. Also called ‘wine futures,’ En Primeur allows buyers to invest in fine wines when they are still in the barrel, allowing for a far cheaper price than post-release and providing a challenging but rewarding opportunity for investors. Vindome has a range of En Primeur exclusive offers, backed by safe, secure and VAT-suspended storage at facilities located close to wine-producing centres. All Vindome wines are stored in a safe, secure manner at a bonded warehouse, except for the En Primeur wines, which stay in barrels at the chateaux until release.
As Vindome Co-Founder and investor Victoria Palatnik says, “Vindome has irrevocably changed the business – and the art – of fine wine investing. We are determined to change the perception that investment in wines is an investment method reserved for a privileged group of insiders. We want to make it accessible to all, and what’s better, the app has already demonstrated that it can bring impressive payback even for first-timers.”
