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Cru World Wine Trading and Investment Platform: Bringing Digital to Fine Wine
When Jeremy Howard took over a small retail wine business in 2008, he thought he could do a better job of running it than the original owners. Five years later, he had helped transform it into an online wine retailer – Cru World Wine. From there, it went on to become a highly successful online platform for managing fine wines and spirits, achieving revenues of US$60 million in 2021, a five-fold increase over its first full year of operations in 2014. Learn with Jeremy when and how to pivot and scale a traditional business into a highly successful platform. The discussion is hosted by Henrich Greve, INSEAD Professor of Entrepreneurship and Family Enterprise.

Why attend:
• Understand the underlying principles of online (web-based) platforms that connect two sides of a market – in this case winemakers with traders, investors, wine collectors and drinkers.
• Hear first-hand advice from an entrepreneur when and how to pivot business models.
• Learn about different forms of expansion – here diversification vs. market expansion – and how platform businesses may have different considerations from manufacturing, brick-and-mortar retail, and even web-based businesses that do not serve two-sided markets.

For more information please visit: https://digital.insead.edu/

Oct 20, 2022 05:00 PM in Singapore

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Speakers

Jeremy Howard
CEO @Cru World Wine Trading
Dr Jeremy Howard is a British citizen with a background in politics, finance, and fine wine. Jeremy gained a Ph.D. from Oxford University in Political Science and joined Goldman Sachs in London in 1995. He then moved to Deutsche Bank in 1996 where he rose to be a Managing Director, first as a research analyst and then as Head of Trading in convertible bonds in New York. Jeremy left banking in 2006 and moved back to London to devote his time to angel investing and entrepreneurship. He first seeded, and then purchased fully, an online fine wine retailer which flourished in Asia in the late 2000s. Jeremy became CEO in 2008. In 2013, he merged his online fine wine retailer with a UK-based entity to create Cru World Wine, a digitally focused fine wine platform. Cru has grown rapidly to become (today) one of the world’s leading fine wine trading and asset management companies. Jeremy lives in Dubai and is married with two daughters.
Henrich Greve
Professor of Entrepreneurship @INSEAD
Henrich R. Greve is a Professor of Entrepreneurship and the Rudolf and Valeria Maag Chaired Professor in Entrepreneurship at INSEAD and is the Academic Director of the Rudolf and Valeria Maag INSEAD Centre for Entrepreneurship. He holds a PhD in Organisational Behaviour and MA in Sociology from the Graduate School of Business, Stanford University. Henrich's research focuses on the causes and consequences of strategic change in organisations, and he also studies organisational innovations and founding and growth of organisations in young industries. He has published over 80 articles in leading journals and is the editor of Administrative Science Quarterly. His business and policy presentations include the World Knowledge Forum in Seoul, Korea, and the World Economic Forum Annual Meeting of New Champions in Tianjin, China.