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Vagabond set sights on expansion as it secures £3.5m investment

Published:  12 August, 2018

Vagabond has secured a £3.5 million investment from UK leisure and hospitality investor Imbiba.

The investment will be used to open new Vagabond venues across the UK, said the business, which has since its beginnings in 2010 grown to comprise five wine bars situated across London - with a sixth poised to open in October this year.

In addition, it owns a winery in Battersea Power Station, which it opened at the backend of last year.

Imbiba was “the obvious ideal partner” to help Vagabond fulfil its ambitions, said founder and MD Stephen Finch.

“Imbiba has unparalleled sector experience, a ridiculously strong track record and, perhaps most compellingly, an investment team that genuinely understands the operational intricacies of a leisure business,” he said, adding the investment came on the back of “impressive financial returns and customer loyalty,” he said.

With the growing millennial market viewing wine as a social drink and the most likely age group to buy wine in the on-trade - accounting for 29% of its volume and 40% of its value (UK Alcohol Industry Report 2017), Vagabond was, with the support and backing of Imbiba, in a strong position to develop and grow its share of the market, added Finch. 

Imbiba said it was “delighted” to be working with Vagabond.

“Within the UK hospitality market, Vagabond is seen as a differentiated and focused business model that provides consumers with a high-quality, superior range at an accessible price point,” said chairman John Connell.

Vagabond was a highly scalable business with industry leading site performance metrics, he added.

“We look forward to supporting Stephen and the management team with their growth plans across all elements of the business.”

Launched to bring “quality wines at accessible prices” to Londoners, Vagabond’s wine bars are situated in Fulham, Spitalfields, Clapham, Victoria and Charlotte Street.