Q&A: Conviviality's chief executive Diana Hunter

How have you found your new role since joining Conviviality in February?

I love it. The 450 franchisees have been fabulous and helped me understand the business. For years I worked in businesses where we were constantly trying to work out the customers but they can give true, genuine insight into the customers they know.

What drove the decision to float on AIM?

The franchisees wanted to know the future structure. They knew the owner would sell at some point and it was a cloud that needed to be taken away. They were ready for a fresh approach. We explored different ownership structures but this worked best as we were able to give them a stake in the business. This gives them incentives aligned with the company and shares are awarded per store.

How was the experience?

We decided to float in May and floated on July 31. It was quick but there’s an energy and a pace that comes if you are doing something you believe in.

Why did you decide to acquire Wine Rack?

It was partly a way to gain more exposure in the South but also to give us a destination wine and spirit offer. It gives us a brand that enables us to talk about wine to customers.

It is also complementary to Bargain Booze as it has a slightly different customer base, so franchisees could run both fascias. In Bargain Booze we are known for great value beer but our wine is a best-kept secret so we can build the Wine Rack brand into Bargain Booze stores.

Are you confident you can compete with supermarkets and their c-stores?

The multiples’ smaller stores tend to offer more own-label and be more expensive.

We are a value operator, our customers like brands and we have local knowledge.

What are your next steps?

We’re working on the PoS and making the navigation better in Wine Rack and Bargain Booze. We have also improved the Wine Rack transactional site and will relaunch it and a mobile site in November.