Last month, wine writer Anne Krebiehl MW interviewed Liv-ex MD James Miles for Wine Enthusiast. In the interview, published yesterday, he discusses the ideas behind Liv-ex, the importance of its data and what his normal day consists of.
Miles explains how he co-founded Liv-ex back in 2000 with Justin Gibbs. Their vision was to make “the wine market more transparent, efficient and safe” because “opacity, inefficiency and risk are the three things that stop people from dealing with each other”.
Miles goes on to discuss how the company has evolved since then: “In the past about 75% of our business was commission-driven. Now that is less than half and we’ve built up a big logistics and data business.” Miles adds that he “spend[s] a lot of time looking at data [and] customer activity” in order to making pricing “simpler, more transparent, and reflect more closely what people are actually consuming on our platform”.
Miles concludes that “over the past years we’ve built a very solid team around us of people who know what they’re doing”. He adds that “the challenge of being an entrepreneur in a small business … is trying to scale it up into a big business”.
You can read the full interview on Wine Enthusiast here.