Majestic Wine PLC Group Transformation Plan Focusing on growth from Naked Wines Call Transcript
Ladies and gentlemen thank you for standing by, and welcome to the Majestic Wine Analyst Call. (Operator Instructions) I must advise you today's conference is being recorded on Wednesday, the 27th March, 2019.
I shall now hand over to the speaker for today, Rowan Gormley. Please go ahead, sir.
Good morning, everyone. Thanks for joining. I'm just going to run through the highlights of the announcement very quickly, and then open to Q&A. The substance of this is, we are announcing a new transformation plan in June. And what we are putting out today is 2 headlines from that plan. The first is that for acceleration in terms of maintenance, and the second is that we're funding this by releasing capital from Majestic. To put a bit more color around those, the acceleration of growth in Naked is we're taking investments in new customer acquisition at least up from GBP 22 million to GBP 26 million and we expect that to grow further from there, driven largely by increase in confidence of our ability to
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