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Majestic Wines acquires Naked Wines and names Rowan Gormley chief executive


Looks a much better deal for NW than for Majestic. £70 million for a company losing money where the original investor wants out is a coup for Mr Gormley. Everyone in wine should congratulate him. He did anyone genuinely innovative in wine, which is almost an oxymoron! He deserves his pay-off. But Majestic is in a difficult spot. They remind me of Tesco's. Under Mr Lewis (a Majestic 'lifer') they followed a strategy (if you can call it that) of just opening 3-5 new high street shops a year. It might have provided a modicum of top line growth but as customer habits evolved it was exposed as the non-strategy that is has been for years. I would expect new CEO Gromley to reverse course immediately (as Tesco has done) and start shutting shops. Most independent wine merchants cannot think beyond the shop floor and hence it is refreshing to see a Chairman actually accepting that things have changed. But let's not kid ourselves, Naked isn't going to save Majestic .... nothing is - in its current form.

Posted date

11 Apr 2015

Posted time

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