It was a marriage of convenience. Naked Wines needed the cash injection. Majestic needed the online know-how in order to expand its digital footprint. After the pair’s relatively amicable breakup in 2019, Naked Wines is now very much looking to re-establish itself as a solo entity with a serious portfolio that can engage even the most sceptical wine lovers.
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Online retailer Naked Wines has lost nearly 40% of its market value after it admitted that lockdown-boosted sales and heightened customer acquisition is likely to see a significant drop in 2023.
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Naked Wines has reported an 80% jump in revenue to £157.1m for the half year ending 28 September 2020, boosted by lockdowns as customers stayed home and ordered delivery.
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Naked Wines has seen pre-sales of its Deluxe Christmas Collection sky-rocket, with 40,000 cases being snapped up in the first 24 hours.
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Naked Wines has announced it expects revenue for FY20 to be in excess of £200m, slightly ahead of current consensus.
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The matchmakers behind the Majestic and Naked Wines merger speak to Jo Gilbert about why the ‘experiment’ didn’t work, and why the demand for niche products is driving wine businesses to double down on their specialisms
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The matchmakers behind the Majestic and Naked Wines merger have said that the ‘experiment’ was doomed to fail because of the inherent differences between the two sets of customers, and because of increasing consumer preference towards companies that have a unique USP.
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The Majestic brand has taken a bullet and is soon to be haemorrhaging stores, handing an opportunity to independents to fill the gap. Jo Gilbert reports
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The Majestic brand has taken a bullet and is soon to be haemorrhaging stores – prompting businesses to reconsider their position on the high street.
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Wine critic, broadcaster, co-chair of the IWC
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The chief executive of the newly rebranded Naked Wines has defended the decision to trim down its 200-store estate while shifting investment focus to the online side of the business.
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The tie-up between Britain’s second and third largest supermarkets will have no detrimental impact on the diverse and “quick to adapt” supermarket sector, it has been suggested.
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Sauvignon Blanc still reigns supreme as Britain’s favourite grape, while Prosecco is on the wane according to the latest from Naked Wines.
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