Let's Get Down To Business

JOHN Colley is chief executive of Majestic Wine, whose Henley store is one of the company’s best performers. He previously spent 17 years in senior roles with Kingfisher, the group that owns B&Q and Screwfix. John, 51, and his wife Gabby live near Winchester.

Describe your business

Majestic is the UK’s largest specialist wine retailer. We were founded 43 years ago and have grown to operate 203 retail stores across the UK and a growing on-trade business supplying more than 2,000 pubs, bars, restaurants and leisure venues.

How many people does it employ?

More than 1,300, including five at the Henley store in Gardiner Place.

What did you do before you joined this business?

I have always worked in retail, for companies including Woolworths, Homebase-Argos, Screwfix and B&Q. I started on the shop floor and worked my way up to become the youngest ever director of Kingfisher.

When did you join the business?

I returned to Majestic as chief executive in 2019 after it was acquired by Fortress Investment Group. I was previously chief executive of Majestic Retail from 2015 to 2017.

What was your objective?

First and foremost, it was to save the business. Majestic had been under-invested for a number of years and it could easily have gone bust if Fortress hadn’t bought it. Once we were back on a firmer financial footing, it was about growing the business by opening new shops in the right locations such as Henley and expanding our on-trade division.

Who or what influenced you?

When the news emerged that Naked Wines was planning to scrap the Majestic brand and shut its stores, my wife, who had previously worked for Majestic as well, said to me: “What are you going to do about it?” We both had an emotional connection to the company and I wanted to do everything I could to help it.

Do you have a mentor or role model?

Steve Willett, former chief executive and chairman of Screwfix, who is an operational genius and someone I really admire and respect.

How is your business doing compared with last year?

We’ve traded in line with expectations, despite the cost-of-living headwinds and a cold, wet April. Our new stores and on-trade business are both delivering strong growth, powering our sales past pre-pandemic levels. We are confident of hitting the targets we have set ourselves.

How does the business market itself?

Majestic is the undisputed expert in UK wine retail. We sell the highest quality, unique products, we employ the most knowledgeable and passionate colleagues and we deliver the best customer service from our in-store tastings and “no quibble” money back guarantee to free wine glass hire for weddings and parties. We market ourselves by leveraging that unique proposition and the value for money we provide that no one else can.

What’s the best thing about leading your business?

The people. The teams are just so passionate and our customers love them, too — it’s not unusual for customers to bring gifts or their favourite wines in to share.

What’s the most challenging aspect?

Currently it is the unpredictability of wider macro goings-on and their impacts, such as changes in government and policies and mounting inflation. Brexit is still impacting businesses, especially in logistics and hospitality.

How important are online/digital sales?

They are crucial. We are a genuine omnichannel retailer — our stores and online work in collaboration rather than in competition.

Do you have a five-year plan?

Yes, it’s a rolling plan which we update and adjust every year. Fundamentally, it’s about focusing on what makes us special — the products that our customers love and the colleagues who educate them and help them discover new wines.

What’s the most valuable thing you’ve learned?

The importance of people. Our people are certainly our most powerful asset at Majestic. Retail is one of the biggest employers in the UK and what those people do in terms of service sometimes goes unnoticed but every day they open shops, fill the shelves and serve customers.

What three qualities are most important to success?

Listening to colleagues and your customers, constantly looking for ways to improve and not being afraid to change things — fortune favours the brave.

What’s the secret of your success?

Doing something I enjoy and making a difference to the people I work with and, of course, to the business.

What’s the biggest mistake you’ve made?

Not opening a store in Henley in 2016 when I had an opportunity to.

How organised are you?

Not very but my personal assistant, who is a black belt in organisation, tells me I’m pretty good.

How do you dress for work each day?

It depends on what I am doing and where I am going. It could be a suit, jeans and sweater, or Lycra if I’m riding my bike into work.

What can’t you be without every day?

My mobile phone and my bike.

Lunch at your desk or going out?

Usually at my desk.

Do you continue to study?

Study for me is about learning on the job from others.

What do you read?

The newspapers.

How are you planning for retirement?

I am too young for that and I have an eight-week-old baby so it won’t be happening for a long while.

Interview by Will Hamilton, intermediary and global marketing consultant, Hamilton Associates