Our values are based on our virtuous circle of “Doing the right thing” for our customers, people, suppliers and shareholders. The Board believes this is vital to creating a sustainable, growing business and is a key responsibility of the Group. This culture supports the Company’s objectives to grow the business through acquiring and retaining customers rather than through opening stores.
It is the Board’s job to ensure that the Naked Group is managed for the long-term benefit of all shareholders, with effective and efficient decision-making. Corporate governance is an important part of that job, reducing risk and adding value to our business
Read more in our Corporate Governance Statement of Compliance with the QCA Corporate Governance Code
Our Gender Pay Gap (April 2019)
1.Measuring our Gender Pay Gap
Majestic Wine Warehouses Limited:
|Majestic Wine Warehouses Limited||Mean||Median|
|Women's hours rate is||3.1%|
|Women's bonus pay is||42.8%|
|Majestic Wine Warehouses Limited||of Men||of Women|
|Who received bonus pay||88%||84%|
How many men and women are in each quarter of the employer’s payroll.
|Majestic Wine Warehouses Limited||Men||Women|
|Upper middle quartile||72.8%||27.2%|
|Lower middle quartile||74.3%||25.7%|
Majestic Wine Group UK:
(Includes: Majestic Retail, Naked Wines UK and Lay & Wheeler:)
|Majestic Wine Group UK||Mean||Median|
|Women's hours rate is||5.8%|
|Women's bonus pay is||36.1%|
|Majestic Wine Group UK||of Men||of Women|
|Who received bonus pay||88%||83%|
|Majestic Wine Group UK||Men||Women|
|Upper middle quartile||71.1%||28.9%|
|Lower middle quartile||73.3%||26.7%|
2. Understanding our Pay Gap:
Naked Wines Plc employs 1364 people across four countries, with women making up 31.2% of the total workforce. Our average hourly pay for women is 5.8% higher than for men, which goes contrary to, and is better than, the average in the UK where men are paid 8.6% higher than women.
The difference between the Naked Wines and national statistics is attributable to the manual nature of the work in the warehouses as well as the delivery roles which attract a larger number of men given that it involves heavy lifting. This makes it unlikely that there will be a significant change in the composition of our workforce into the future.
3. Change in Bonus Payment
The significant change in the bonus payment comparison is as a result of two events.
- The first was the vesting of tranche 1 (of three) of the management incentive shares which is a limited scheme which rewarded Naked Wine employees on the back of the buyout by Majestic Wine. This will continue for three review periods after which it will end.
- The second was the liquidation and distribution of an escrow account which had been established to secure possible warranty claims associated with the Naked / Majestic transaction. Once the warranty period passed, this balance was distributed. This was a once off event
Both these events have resulted in a skewering of the results of the bonus payment gender comparison but the amounts must be included as per the definitions of bonus payments.
4. Taking action:
While we accept that our hourly rate comparison is favourable, we acknowledge that we still need to become more representative across all levels with women only representing just over 31% of our workforce. We have taken steps to make Naked Wines a more attractive employer for women through our maternity support and flexible job designs however the increase in women in the comparator period has been negligible moving from 31% in 2017 to 31.2% in 2018.
We are committed to continuing to find ways to retain and attract women, as well as other under-represented groups, into our business and to provide opportunities for development and advancement.
Anti-Slavery and human trafficking policy
This statement has been published in accordance with the Modern Slavery Act 2015. It sets out the steps taken by Naked Wines plc to prevent modern slavery and human trafficking in its business and supply chains.
Please see our full statement here:
The Group recognises that alcohol misuse, underage drinking and poor health are issues causing real concern in the UK today. Naked Wines takes these matters very seriously and we are committed to the responsible retailing of alcohol in order to help mitigate their impact. We are a supporter of Drinkaware, the government sponsored trust which promotes responsible drinking. In addition, we have signed up to the Government’s Responsibility Deal which aims to improve public health by encouraging responsible drinking. We ensure that customers have access to information about alcohol on our website and in our promotional literature. Staff training includes principles of social responsibility and alcohol misuse and all tasting events encourage customers to enjoy wine responsibly.
UK Tax Strategy
This document sets out the Tax Strategy of Naked Wines plc and its UK subsidiary undertakings for the Financial Year 2019-20 (Including 2018-19). Naked Wines plc is making this strategy available to fulfil its obligations under Schedule 19 of the Finance Act 2016.