8/24/2023 0 Comments Mile high spirits donation request“It’s a huge challenge to make the new store the same, yet different,” says Nagel, adding that the new location has a more mature demographic. Whereas the original store has a steampunk theme and a Victorian-era mural of the Molly character, the new store will have a mid-century modern theme and a Jetsons-esque Molly mural. Like the first store, the second will have about 18,000 SKUs and an uncluttered, open feel. The original and new locations are of similar size-28,000 and 25,000 square feet, respectively. “There are 18 restaurants in this mall, and the location next to a grocer without a liquor license is key.” “A store has to have a compelling location,” Nagel says. Both stores are in suburban shopping centers off interstate highways, with the second location situated near eateries, a natural grocer, office buildings, and an outdoor concert venue. “We’re losing the $20 customers, but increasing our $100 customers.” In response to recent changes, the company sharpened its focus on unique beers and in-house expertise-in fact, the beer manager, Tony Doria, is a Cicerone.Īfter clearing the beer hurdle, Nagel began to plan a second unit 21 miles away in Greenwood Village, which is slated to open in November. “Molly’s has become even more of a destination store since grocery stores began selling beer, and our average basket size for 2019 is up almost 10% compared to 2018,” Nagel says. In contrast, Nagel reports other large-scale destination retailers experienced declines of 15%-20%, while some small stores’ beer sales plummeted 30%-40%. After the law changed on January 1, Molly’s first-quarter beer sales declined 7% compared to first-quarter beer sales in 2018. Since the beginning of this year, the greatest challenge for every Colorado retailer has been beer its sales determine whether a store will thrive or shutter. While the original location just outside of Denver has a steampunk theme with a Victorian-era Molly mural (pictured), the new store will showcase mid-century modern décor. For his business acumen and community leadership, Rufus Nagel has been named a 2019 Market Watch Leader. Molly’s emerged as a wine, spirits, and beer destination, and revenue grew from $10 million in 2015 to $23 million in 2018. He studied the industry, talked to local retailers, and hired managers with decades of experience. ![]() Nagel’s background in Silicon Valley tech and Denver commercial real estate made him an unlikely candidate to open a large-scale, high-volume store in a crowded market dominated by established players. ![]() A relative newcomer to the business, Molly’s Spirits CEO Rufus Nagel has expertly navigated these changes. ![]() And as of this year, grocery and convenience stores previously licensed to sell low-alcohol beer (3.2% alcohol by weight) can now sell full-strength beer, creating stiff competition for traditional off-premise stores. Off-premise licensees can now apply for a second license and grow their businesses to a total of four stores by 2027. (Photo by Matt Nager)Ĭolorado’s beverage alcohol landscape has shifted significantly since Lakeside-based Molly’s Spirits launched in December 2014. Now, the store embraces technology to keep customers happy. Rufus Nagel merges technology with experiential shopping at Molly's Spirits in the Denver metro area.Ī veteran of the Silicon Valley tech and Denver real estate spheres, Rufus Nagel studied the beverage alcohol industry extensively before opening Molly’s in 2014.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |