Martin Wine Cellar has 5 stores across Louisiana currently. The Baronne Street store which was destroyed by the Hurricane Katrina in August 2005, is in a rebuild process. The process however has taken a long time, but the Martin Wine Cellar owner Cedric Martin says the store will open its door by next year. It is the same location where 65 years ago his father David established the business.
The company with its five stores is able to generate 70% of its sales from wine, 12%-14% from spirits, 12% from food and catering while beer accounts for a very less percentage of sales. Martin Wine Cellar known as the famous celebration destination of the city has managed to flourish in the changing market conditions.
In an interview with Shanken News Daily, Martin disclosed some of the business details. According to him, after the 2005 hurricane devastation the business had reached its pre-Katrina levels in 2008 but saw a downslide after the economic crunch in the fall of 2008. People didn’t buy at all or were buying wines that were cheaper. Now with the improved economy, the business is again showing signs of growth.
He said, to make a stand in the market, you need to be innovative. As a measure Martin Wine Cellar has already launched an ecommerce website where the customers can buy wine online.
Martin added we sell Burgundy and Bordeaux futures and did good business in the year 2009. For good cabernet blends and prices we have researched the places in Argentina, South Africa and Chile and found good deals over there. The best pricing for Martin wine cellar ranges from $15- $45 with very little scope for the $200 range pricing.