Majestic Wine to re-brand as Naked Wines
Majestic Wine is working on plans to shutter some of its 200 stores as part of a restructure of its business which will focus in future on development of Naked Wines which it acquired in 2015. Trading has been tough for the Majestic Wine stores due to a combination of increasing competition from supermarket chains, increased store operating costs and lower spending by consumers.
Naked Wines USP is its funding of independent winemakers who produce quality wines at pre-agreed preferential rates for customers. This provides it with exclusivity, is rather more difficult for other retailers to compete with, and has attracted a loyal following. Naked Wines delivered around a third of Majestic overall group sales in its most recent trading year.
The business is expected to fully announce its plans in June.