Majestic Wine reports "record-breaking" 18 months of sales
Majestic Wine said it had a record-breaking trading period over the last 18 months, with some key trends expected to continue.
The retailer has been investing in growth across its bricks and mortar stores. Four branches have opened and the stores have improved range and a large investment in infrastructure.
The retailer is also bracing itself for its “biggest ever summer” due to a return to growth of its on-trade arm and more people holidaying in the UK.
Over the last 18 months it has identified a number of trends which have begun to emerge “at an accelerated page” including growth in key categories such as New World rose, English Wine and regions hard hit by the virus including Italy and South Africa. Alongside this it saw record online sales growth of more than 300% and an increase in the average price paid per bottle.
Wine fans have also been warned to look out for potential shortages in some of Majestic’s biggest sellers across the country - including New Zealand Sauvignon Blanc and some key French lines - due to extremely challenging harvests and frosts in these areas.
Majestic chief executive John Colley said: “The last year has been unbelievably tough for all of us, but I am proud of the role our stores and colleagues have played in supporting our customers and suppliers throughout Covid. Our shareholder, Fortress Investment Group, believes in the future of this 40-year-old institution and has invested millions since the acquisition in December 2019. This has saved jobs and fuelled long term growth at a time when many were reluctant to invest in traditional UK retail. They have enabled us to not just turn the business around, but also begin building a strong company that will employ colleagues and serve even more customers in the decades to come.”
A key part of Majestic’s current success is the revival of its bricks and mortar channel- particularly as prior to acquisition, the business came perilously near closing its doors for the final time.
“With a pipeline of store openings set for the coming years, and so much genuine affection across the UK for the Majestic brand - we believe this is set to be an exciting next chapter. I’d like to say a huge thank you to all our colleagues at Majestic for their hard work, support and approach to the last year. For doing it safely, and with amazing energy and expertise. And I’m sure we can continue this story for many years to come.”