Total Wine Unveils Details Of Launch Into Dallas MarketApril 10, 2012
Last November, Shanken News Daily exclusively reported that Total Wine & More was planning a move into the Texas market with a store in Dallas. Today Total Wine revealed that the new venue will be located at 9350 North Central Expressway (Route 75), just north of University Park in upscale North Dallas, and will open by early summer.
The new Dallas venue will be Total Wine’s 80th store nationwide and will compete against local powerhouse Centennial Fine Wine & Spirits as well as Houston-based Spec’s, which has been aggressively expanding in the Dallas market. Total Wine’s new Dallas store will be less than half a mile from a Spec’s store at 9500 North Central Expressway, which opened in December.
Total Wine claims its new location will have “the largest selection in Dallas, customized local and regional selections in inventory, expert-trained employees, a climate-controlled fine wine cellar, a walk-in humidor for fine cigars and regular themed wine, spirits and beer tastings,” as well as some new “bells and whistles” it’s not yet ready to reveal. The venue will be between 20,000 and 30,000 square feet, the company said, and will represent the next generation of Total Wine stores.
The Dallas retail wine and spirits market has been a hotbed of activity of late. Houston-based Spec’s, which has revenues of over $500 million, has four new North Texas locations in the works in addition to the Dallas store it opened in December. Earlier this year, Spec’s also nearly struck a deal to acquire 10-store Dallas chain Sigel’s before the proposed agreement fell through. Centennial, which boasts around 60 stores in North Texas across its Centennial, Majestic, Apple Jacks and Big Daddy’s brands, had projected revenues of $250 million last year—buoyed by its acquisition of the Majestic chain and its 32 units last April. Since that deal, Centennial has pared its store numbers slightly, closing seven stores across Dallas, Fort Worth and nearby Hebron. Other retail competitors in the Dallas market include Sigel’s and Goody Goody Liquors.
Total Wine is currently in 11 states, and expects to be in 14 states by year-end, with openings planned in New Mexico and newly privatized Washington in addition to Texas. The company has set a goal of doubling annual sales to $2 billion within five years.Tagged : retail, Texas, Total Wine & More