Majestic's Tim How to retire
The man in charge of the hugely successful Majestic Wines has announced that he is to retire within the next year. Tim How has been chief executive of Majestic for 19 years, turning it from a small, loss-making chain at the end of the eighties into a highly profitable business - with sales of £191.2 million and profits of £16.2 million last year.
The retailer, which has made its money selling wine by the mixed case, can boast an amazing £128 average consumer spend and £5.85 average bottle price. It also saw sales of its fine wine – bottles over £20 – increase by 17½% last year.
Tim How told ThirtyFifty that, apart from sourcing good wines from the big regions, such as Burgundy, Bordeaux and the like, having great staff with good product knowledge and convenient stores with parking have helped attract people who are interested in wines.
Majestic’s current chief operating officer Steve Lewis, who joined the company as a graduate trainee manager in 1985, will replace Tim How on his retirement.