By John Smith • 16 April 2021 • 11:25
Online sales are booming
NAKED WINES (formerly known as Majestic) has confirmed that the pandemic has given the company a real financial boost with profits up by more than two thirds.
According to CEO Nick Devlin, its decision to close its stores, rebrand and supply wines only online turned out to be the right one as it now has 885,000 regular customers, an increase of nearly 50 per cent over the previous year.
Whilst results for 2021 are difficult to forecast, he believes that growth, particularly in the USA will continue.
It has been brought to our attention by Majestic Wine that;
Naked did not close its stores, instead the Majestic business was sold to US investment firm Fortress. The business still runs under private ownership, and we have in fact opened three new stores in the last 4 months alone, and also own great market share and customers in the last 12 months.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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