Wizz Air CEO launches wine webshop

Drinks

József Váradi, the CEO of low-fare Hungarian carrier Wizz Air, on Monday announced the launch of a wine webshop called Bar:24, according to a report by state news wire MTI.

József Váradi

Váradi is the majority owner of Bar:24 which he is launching with a group of private investors who are plowing close to half a billion forints into the venture. The company could go public eventually, he said.

Bar:24 will start sales in Hungary on Wednesday but could add foreign sales in time, Váradi said.

He said conventional wine sales channels are "inefficient" as the gap between producer and consumer is still too wide.

He noted that online sales account for under 1% of wine sales in Hungary, and even in countries in the West, the rate is less than 10%.

Váradi owns a winery in Mád, in Hungaryʼs Tokaj wine region.

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