The boss of Majestic has said the wine retailer is “optimistic” despite pressure on customer budgets as he laid out plans for the retailer’s continued store expansion.
The wine retailer, which was bought by private equity firm Fortress for £95 million in 2019, said it is targeting a wish-list of 76 potential store locations across the UK.
Majestic said it has opened two new stores, in Haywards Heath and Godalming, over the past month and will continue to invest in physical stores despite rising costs.
John Colley, chief executive officer of Majestic, said the business is hoping for input from shoppers on its store hunt and will offer a year’s supply of wine to customers that can help source the perfect new site.
He said: “Responding to consumer demand, we’ve opened two new stores this month, but we aren’t stopping there.
“In addition to the new stores already in our pipeline, we’ve got our eye on a further 76 potential locations across the country and are calling on the UK’s wine lovers to help us find sites so that we can offer more people a place to taste and discover new wines, beers, and spirits with guidance from our expert staff.”
The retailer currently operates 201 shops across the UK.
Majestic said it has sought to improve its expertise under Fortress’s ownership, which over 1,000 Wine and Spirit Education Trust (WSET) trained colleagues, now working across its stores.
The group said it has also reinstalled tasting counters designed to help customers discover new wines which had been removed under its previous ownership.
Mr Colley added: “Some retailers are battening down the hatches given the current climate, however history has shown that Majestic is an extremely resilient business.
“None of us have a crystal ball, but we remain optimistic despite tighter consumer budgets as wine is still something people want to enjoy and savour.
“Customers are returning to physical stores with enthusiasm, seeking out the advice of our expert staff to discover the real value in their wine choices.”