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For the first time Naked Wines have reached £100 million annual sales. The crowd funded wine seller was merged with Majestic Wine in April last year. News for the group as a whole has been more mixed however. Since the merger first half profits up to September 2015 showed profits were slashed from £8.5million to £4.3 million. Prior to the acquisition, Naked Wines had made a loss of £3.3m due to its cash heavy model and investments in acquiring new winemakers.
Majestic asks its suppliers to help with investment in their new distribution centre.
Retailers announce Christmas period wine, beer and spirit sales.
Steve Lewis the CEO of Majestic has stepped down from his role with immediate effect, after 29 years with the business.
Unprofitable Naked Wines bought out by Majestic Wine
New Chief Executive puts plans in place to help ailing profits at Majestic.
Deliveroo delivery firm team up with Majestic and BrewDog
New fulfilment centre enables more flexible delivery options for Majestic online orders
The hot weather and the Fifa World Cup has encouraged drinkers, while in the vineyard the weather has given a cracking start to the growing season.
This week Majestic disappointed the market which has seen its share price drop by nearly a third over the last year.
Majestic Wines, the high street darling of the UK wine drinker, has announced this week that it plans on shutting stores and selling its wine retail business.
Majestic’s board has appointed investment bank Rothschild to look for potential buyers for the company’s brand and 200 stores while it tries out new Naked branded showroom.
Majestic, the UK wine retailer, release their results with a loss of £8.5 million as more money is diverted into online retailer Naked Wines.
Lay & Wheeler, founded in 1854, sells fine wines, En Primeur and wines by subscription and has been sold for £11.3 million.
Majestic announces the closure of its Calais wine store with the loss of 20 staff.
Farr Vintners and Majestic continue to sell Russian owned French wines in the UK
Naked Wines' losses grow as sales slide a further 18% as the business re-finances and a new CEO takes control.
National Business Awards name Naked Wines UK Online Business of the Year.
Angels wine discovery sells out in 24 hours.
British winemaker suffers at hands of vandals but Naked Wines come to the rescue.
Unprofitable Naked Wines bought out by Majestic Wine
Majestic profits continue to fall as sales rise despite a move to more entry level wines from unusual regions.
Australia’s Northern Territory has instigated a minimum pricing on alcohol, with Naked Wines claiming it is too difficult to calculate the new minimum prices and says it will pull out of the region.
This week Majestic disappointed the market which has seen its share price drop by nearly a third over the last year.
Majestic Wines, the high street darling of the UK wine drinker, has announced this week that it plans on shutting stores and selling its wine retail business.
Majestic, the UK wine retailer, release their results with a loss of £8.5 million as more money is diverted into online retailer Naked Wines.
Lay & Wheeler, founded in 1854, sells fine wines, En Primeur and wines by subscription and has been sold for £11.3 million.
Rowan Gormley announced he is stepping down from Naked Wines, after Majestic paid for his takeover and listing of Naked Wines.
Naked Wines plan to reduce the weight of 3.5 million wine bottles, and ensure another 2.5 million do not get any heavier under its current contracts.
Naked Wines share price drops by 44% after they predicted falling sales in the coming year. The announcement has caused the shares to tumble in what has been typically classified as a fast growing but loss making business.
Naked Wines announce much delayed results and it’s a £15m loss.
Naked Wines' losses grow as sales slide a further 18% as the business re-finances and a new CEO takes control.