Thomas HEBRARD, U’Wine, a new wine experience. Portrait

Thomas HEBRARD is the founder of U’Wine, a new generation trading house in wine. Born in Arcachon, Thomas grew up on the water’s edge and in the vineyards of the largest castles in the Bordeaux region. No wonder then that he then found his way in line with his family heritage. Yet this is not where his studies were supposed to take him. And for good reason, as a child, he wanted to build planes. So he began his consulting career in 2009 with a degree in aeronautical engineering and a stint at HEC. His education on wines and grand crus, however, reminds him personally to imagine a new concept, long before he considered making it the project of a lifetime…

thomas hebrard founder uwine investment wine cellar
Thomas HEBRARD, founder of U’Wine, a Bordeaux-based company – Photography Manon LEPREVOST

Thomas HEBRARD, a journey driven by his passions

Born at the water’s edge in a family of winemakers, Thomas HEBRARD is bottled in the great outdoors and vintages. Hyperactive in nature, he follows in his father’s footsteps and spends his free time playing sports and racing. Thus, a great competitor since childhood, the taste of challenge meets him very early and sculpts his vision of work. When he is not on the water, Thomas is in the vineyards. Making wine has been in his family since 1832, on the side of his paternal grandmother.

Like any child, I used to go to my grandparents’ house for lunch on Wednesdays. It turned out that their home was the Château Cheval-Blanc. For me, a simple and pretty house where we collected and ate pine nuts.”

Thomas HEBRARD, founder of U’Wine

A family heritage that young Thomas does not yet realize, but which will allow him to discover the greatest vintages and the most confidential small vintages. Despite a palate educated from an early age, it is not the castles and wines that Thomas dreams of. His mathematical and Cartesian spirit quickly led him to go to an engineering school in aeronautics. At the end of ESTACA Paris, he perfected his career at SUPAERO and HEC to complement his technical skills in managerial know-how. Thomas then completed his studies at the end of 2008. He joins Algoé, a management consulting firm based in Lyon and Paris. In the Paris office, he is an assistant to the project on infrastructure projects such as the Notre Dame des Landes airport, projects related to the football World Cup in South Africa, or the organization of public services.

“In February 2009, I received my first salary. I realize at this moment that if I want to create a cellar, I have to start saving now.

Building your own cellar, complicated even for a child of the vines

Thomas then set out to buy Bordeaux wines in Primeurs, in order to get the best purchase prices. He discovers with amazement that Grands Crus are put on the market at a very high price. A reality that he had not known until then, accustomed to family tastings.

U’Wine is your winery – The tasting is yours. Alcohol abuse is dangerous to health – To be consumed in moderation

My taste being already built around brands, I did not want to buy anything else. I wanted to buy what I wanted to eat. As long as you don’t buy your first bottle, you don’t realize their value.

After analysing the prices and the long-term valuation of bottles, the concept of U’Wine begins to germinate… Some wines can increase in value within 5 to 10 years after the harvest, Thomas decides to build his own cellar in an investment logic. He therefore buys more than he plans to consume, with the aim of reselling the surplus in the following years. The profits then allow it to finance the purchase of new bottles. Sharing this idea with his relatives, he convinces 5 people around him to buy the 2008 vintage.

The concept of U’Wine was born in 2009, when Thomas started at Algoé. Aware of the potential of the idea, he continues his reflection by structuring his investment and resale strategy, and thus professionalizing the project. So much so that in the second year, 15 people are already following him to buy Primeurs wines.

thomas hebrard quais garonne bordeaux
U’Wine, a unique wine cellar concept based on the personal experience of Thomas HEBRARD – Photography Manon LEPREVOST

U’Wine, a long preparatory work

Thomas HEBRARD is transparent in nature and prefers to play fair with his employer. He then tells her about his project in wine and then obtains Algoé’s permission to start his business in parallel with his job. U’Wine was created in 2010. In order not to embark on the entrepreneurial adventure alone, Thomas chooses to partner with friend with the more financial profile to share this adventure. A choice that was a failure, their respective visions ultimately proved not compatible.

We did not have the same values. I’m not saying that his values are bad, just that they are not mine. I was questioning myself so that our relationship would get better, but every time, it didn’t work… It was my project and I didn’t want to distort it. I didn’t follow my instincts, that was my first lesson. We separated by mutual agreement and everyone went back on their way. What is surprising is that deep down, I knew from the beginning that it would not work.

In 2011, the concept of U’Wine was refined. Thomas considers that wine requires a “trusting binder” to be sold. Also, he wants to intermed his model and not sell in B2C on the web. He also observes, post financial crisis, that companies now offer investments in wine via the Internet on business models that he deems far-fetched. To ensure that everything is done according to the rules of the art, to bring security to its customers and credibility to its concept, Thomas makes arrangements with the AMF. The aim is to differentiate yourself, to protect your clients factually and to open the doors of wealth management. And why not one day private banks and institutions…

Thus, after more than 4 years of construction of the model, he obtained his AMF registration in the summer of 2014 as Intermediate in Miscellaneous Goods. A first in France in terms of the regulation of alternative investments. Finding himself with a valuable asset, Thomas was finally unable to embark on the development of U’Wine.

The development of U’Wine, the time of life choices

To launch U’Wine, Thomas chooses to surround himself with people he trusts, sharing his vision. His father-in-law, Antoine JEANSON, administrative and financial director in large groups, accompanied him from the infancy of the adventure to structure the model and the business plan.

As much as U’Wine is my project, my vision, my challenge, as Antoine knew how to be my safeguard. It has been crucial in managing and anticipating cash which has allowed us to always be in a favourable position to raise capital.

Quickly in 2013, the team is complemented by Quentin CHAPERON, also considered a member of the family, champion of France and vice-champion of the world tasting. Without a penny at the time, all three volunteered to develop the company. The actual start-up will not take place until 2015.

Thomas finds himself with two full-time jobs, a baby, a social life to maintain with his wife and loved ones. Nights are short, weekends abbreviated and holidays almost non-existent. Having moved part-time and left Algoé in 2014 to focus on U’Wine, Thomas returned to Bordeaux in March 2015. It then has a business with a structured model, tested and approved. The challenge now is to sell it. To do this, he develops relations with the Castles. As winemakers are seduced by a model that enhances their wine, U’Wine quickly obtains allowances to sell great vintages. Bordeaux, Saint Emilion, Burgundy, Rhône Valley… In two years, the company’s catalogue has expanded into the finest appellations.

U’Wine is thus able to offer a complete customer experience around wine. The company allows to buy in the right conditions, to manage the cellars for buyers without storage space, to deliver the bottles for their personal consumption… But they also incorporate remarkable services such as visiting the Châteaux, tastings. A global, readable offer that puts the love of wine at the heart of the process.

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U’Wine, a project quickly carried out by Thomas and his family – Photography Manon LEPREVOST – Décor BORDEAUX Business

Digital and export, open the field of possibilities

Thomas HEBRARD wants to make U’Wine a major and innovative player. To distinguish itself from traditional wine merchants or pure investment models, it provides its customers with various tools. Starting with a mobile personal cellar management application. Thus, U’Wine uses digital to offer more experience and eliminate friction in the customer journey. It establishes a global ecosystem to meet all requests. Concierge, shop, mobile app, high-end wooden crates, certificates…

To ensure the resale of its customers’ wines, Thomas continues to structure its distribution model. In 2018, it is expanding its trade relations with China. The Shanghai subsidiary has been operational since January 2020. In addition to e-commerce, U’Wine is present in 5 physical stores and a dozen new partnerships are underway. The brand is now looking to join luxury boutiques to attract new customers.

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Since 2015, U’Wine has been growing rapidly. 2020 even has a turnover of 70-80% compared to 2019 – Photography Manon LEPREVOST

U’Wine, the result of trust and teamwork

The success of U’Wine, Thomas HEBRARD owes it in particular to the people who believed in his project and we choose to devote themselves to it. Also, it is with great pride and gratitude that Thomas makes Quentin, in June 2015, the first employee of U’Wine. Antoine also became an employee of the company, as Chief Financial Officer.

How lucky to have a CFO of this caliber with me. He left an important position in a large company to join the start-up U’Wine, it is a great brand of trust.

U’Wine also recruits Jean-Marc to take charge of business development. Dorothea is also invited into the adventure to develop marketing. Then, in July 2017, the company opened a new position. Two talents caught Thomas’ attention, so he hired them both. Celine is Anne-Sophie then join the adventure.

I refuse to let talent slip away. We’re hiring both of us. There is always work for anyone who wants to join the U’Wine adventure.

Since then, the team has continued to grow. New arrivals that allow Thomas to see his company structuring itself, to appreciate the fruits of so much work.

A hybrid business model for an innovative U’Wine concept

Through the prism of the full customer experience, U’Wine has different levers to run its business model. Margin on primeurs, management and storage costs, delivery costs, commission on the performance achieved on resale, business model of investment funds… In 2020, U’Wine’s investment offers have been profitable for 3 years but the investments are substantial. The company enjoyed hyper growth quickly after the effective launch of 2015.

The company’s success is based on a balance between an investment model and a distribution model. Also, to date, all the investments made are on distribution to be able to sell the wines in 7 or 10 years. And for good reason, the risk to investors remains resale. U’Wine is therefore strengthening its investments to guarantee distribution. This part of development accounts for 55% of expenditure, more than one million euros this year. In 2021, Thomas HEBRARD plans to double and then triple these investments.

The opening to the Chinese market allows it to develop the resale part serenely. He is then able to assure his investor clients that they will quickly find a buyer when they wish to offload a few good bottles.

We have never disinvested as much as in 2020 while maintaining the level of performance for our investor clients of 62% gross while the market has been stable for 5 years.

In addition to the well-known appeal of Chinese customers for French wine in particular, the Chinese market represents hundreds of millions of euros, justifying the substantial investments currently being made.

portrait thomas hebrard uwine
Photography Manon LEPREVOST – Décor BORDEAUX Business

Difficulties, opportunities and prospects, a bright future for Thomas HEBRARD

For U’Wine, the hardest part will have been the period 2018-2019. U’Wine was growing well beyond the Business Plan. This success is driven in particular by its U’Wine Grands Crus challenges offer. Except that at the end of 2017, the regulations are changing and the EWB challenge is abolished. U’Wine then lost two-thirds of its business. Thomas and its Strategic Committee still decided to maintain the planned investments to launch the distribution offer in China and to cope. This allows the offer to start again from July 2019 with a new partner, Societe Generale Private Banking.

In the year ended September 30, 2020, U’Wine recorded more than 11 million euros in orders and billed its customers for 8 million euros, representing more than 70% growth. Currently, it is the investment activity that boosts the figures. Within 2 years, Thomas expects e-commerce to be on the front for as much, if not more.

In the meantime, he’s preparing the ground. The company now has 23 employees, including 2 in Shanghai. To manage this hyper-growth, U’Wine seeks to recruit to expand its team. After raising exclusively funds in love money and business angels since the beginning of the company, Thomas HEBRARD has just launched a fundraising in Serie A, with investment funds.

We need to be constantly challenged. The new fundraiser will allow for a different approach. It is also a way to recruit cadors, such as a COO responsible for operations to take care of the China project in particular.

In this flourishing environment, U’Wine aims for 100 million sales by 2026. In an estimated annual global market of 93 billion euros, nothing now seems to be able to stop the start-up.

New ambitions for 2022: building the world of wine in a rewarding, sustainable and emotional way

U’Wine wants to accentuate its rewarding dimension for wine. For good reason, with an investment offer coupled with a consumption offer, the concept allows each wine to be bought in Primeur/allocation at the right time by an investor. Then to be drunk by a consumer at its peak, 5 to 10 years later. The protection provided by U’Wine on its offers and on the purchase as a merchant brings additional value in the world of wine.

In addition, U’Wine makes every effort to protect the quality of the wine and therefore the investment. Thus, each bottle is highlighted in its Bois d’Origine box surrounded by patented chips to ensure its protection against breakage. Or temperature variations during transport or storage in the cellar. Finally, the U’Wine Tag affixed to the bottles makes it easy to manage the entry and exit of wines. Enough to know at all times the contents of your cellar to consume your wines at the best time.

Then, the U’Wine concept is intended to be sustainable with its heritage cellar offer targeted by the AMF in 2014. Today referenced by private banks, wealth management advisors and family offices, it has become the reference in the field of wine investment. With an outstanding assets under management of up to 24.5 million euros and a stock of 552,000 bottles, U’Wine manages the cellar of more than 1000 customers.

Finally, U’Wine wants to put its emotional dimension back at the heart of wine consumption. To better understand wine, you have to live it: visit the Châteaux, meet the owners and share a dinner with them or discover a vintage during a tasting at the U’Wine Apartment… In addition to these sensory experiences and memories, the Mobile Application and the connected bottle add a strong digital dimension. The world of wine of tomorrow will not be able to do without emotions. U’Wine is therefore constantly looking to offer new tactile and digital experiences.

Bordeaux, the place to be but not only

Everything I put together at U’wine was primarily for me. It was above all selfish. The wines we select are the ones we wanted for our cellar, the ones we love. We are drinkers of local wines with their typicalities and their stories.

After obtaining allocations in renowned French appellations in Bordeaux and Burgundy, U’Wine now has more than 135 granted estates, representing almost 500 different wines from the Rhône Valley, Loire, wines from Italy, California and South Africa. Thomas came out of Bordeaux with the goal of having for him and his customers the 1% of the best bottles of the world’s greatest terroirs.

The choice of Bordeaux was not complicated. This is first and foremost the place where Thomas grew up. On the wine side, the square also has all the arguments. To develop U’Wine, the Bordeaux region was therefore a no-brainer. The value of Bordeaux and the offer allows us to develop a clientele far beyond the region. Currently, 80% of the clientele is spread over France. 12% is in Asia. The rest are in Switzerland, the United Kingdom, Belgium, Luxembourg, Lebanon, Australia, Japan… For now, Thomas confides that they only need Latin America.

America, a market that he could well attack very soon since he plans to settle in this market. U’Wine could very soon put his suitcases in the United States on the same model as in China …

Contact U’Wine

Alcohol abuse is dangerous to health – To consume in moderation.

Additional source: Press release of 14 October 2021, “U’Wine is building the world of wine of tomorrow”

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