Majestic Wine has announced a “group transformation plan” to rename itself Naked Wines and close some stores to focus more on its online and international operations. Majestic plans to step up annual investment in Naked Wines by £6m to £26m, funded by asset sales and store closures. The group says online sales already account for nearly 45% of revenues, while one-fifth of all sales are international. It sees significant growth potential abroad, particularly in the US, claiming, “we are now moving towards the next phase of the group’s evolution in which we will tightly focus on the significant Naked growth opportunity,” it adds.
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