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May 30, 2022 View:

UK's Majestic Wines plans to invest £12 million to expand customer base

According to Rowan Gormley, CEO of Majestic Wines UK, they will be injecting £12 million to expand their existing customer base, and he claims that this customer acquisition is much larger than previously anticipated.

Image courtesy of: thedrinksbusiness

The initial investment plan of the UK-based Vigorous Wines was budgeted at £9 million, which will now be expanded to £12 million. Between £7 and £10 million of this amount will be used to boost wine sales, while the remaining £2 million will ensure a steady increase in wine sales.

According to the British Vigorous Wines, the investment of 12 million pounds to expand the customer consumer base will bring the company 48 million to 80 million pounds of revenue in the future.

Rowan Gormley, CEO of Vigorous Wines UK, said: "We have doubled our wine sales in the last three years and our sales target for 2019 is £5 million, so if we keep up the momentum, we will certainly meet that sales target.