Retail Giant Total Wine & More Closes In On $3 Billion In RevenueNovember 30, 2017
Total Wine & More, the country’s largest independent wine and spirits retailer, continues to expand aggressively while modernizing existing stores and upgrading its online presence.
The Maryland-based chain is on track to have 173 stores and annual revenue of $2.7 billion by the end of this year. It has big plans for the future—and no intention of slowing down. Along with continued unit growth in existing markets, Total Wine & More is working to enter two new states—New York and Tennessee—and launch some major online initiatives, in addition to increasing its cigar business, upgrading older stores and expanding its home delivery service. In fact, 2017 has shaped up to be Total Wine’s biggest growth year ever.
“We’re continuing to expand aggressively,” says David Trone, who co-owns Total Wine & More with his brother, Robert. “This year has been our best ever in terms of number of new stores, and we’re making big advancements in the digital space. We look forward to adding new states, improving e-commerce and being a local retailer in every market.”
Total Wine & More closed out 2016 with 148 stores, and the company is opening 25 new units this year, bringing its store count up to 173 by the end of 2017. Its focus remains on Texas, where it’s adding 13 units this year, as well as on California—particularly the Bay Area, San Diego and the Central Valley—where the company expects to add 12 to 14 stores over the next two years.
“Our most important markets now are Texas and California, and that’s clearly where our expansion focus is,” David says. “We see great opportunities in both of those markets, with a growing economy in Texas and a very wine-savvy, educated and high-income customer base in California. Our plan has always been to continually grow the company aggressively, but I don’t think anyone envisioned we’d be approaching $3 billion in 2017.”
Shanken News Daily sister publication Market Watch has a full report on Total Wine’s ambitious expansion plans on its website.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.