22nd Mar 2016 09:12
LONDON (Alliance News) - Majestic Wine PLC on Tuesday said its Naked Wines division hit a record of GBP100 million in sales in its current financial year.
Naked Wines is an online wine retailer and is one of Majestic's four divisions, following the acquisition of Naked Wines by Majestic in April 2015. The other three are Majestic's own retail business Majestic Retail, wine supplier Majestic Commercial, and wine merchant Lay & Wheeler.
Majestic's financial year ends on March 28.
"Hitting this latest milestone proves once again that crowd-funded, social wine distribution can deliver brilliant outcomes for all our stakeholders at the same time - from those who pick the grapes to those who discover and drink our wines," Chief Executive Rowan Gormley said in a statement.
Gormley was the founder of Naked Wines and its chief executive officer before being bought by Majestic.
"We will continue to invest in Naked Wines and remain very excited about the opportunities ahead for the whole group," he added.
Shares in Majestic Wine were trading up 0.3% at 433.50 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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