Artisanal Spirits Company PLC (The) Launch of SMWS Taiwan
22 August 2023 - 4:00PM
RNS Non-Regulatory
TIDMART
Artisanal Spirits Company PLC (The)
22 August 2023
22 August 2023
The Artisanal Spirits Company plc
("The Artisanal Spirits Company", "ASC" or "the Group")
Launch of SMWS Taiwan
New subsidiary gives direct access to world's third-largest
market for Ultra-Premium Scotch Whisky
The Artisanal Spirits Company (AIM: ART), the owner of The
Scotch Malt Whisky Society ("SMWS"), the leading curator and
provider of premium single cask Scotch malt whisky and other
spirits for sale primarily online to a discerning global
membership, is pleased to announce the successful launch of a new
subsidiary in Taiwan, the third-largest market for Ultra-Premium
Scotch Whisky globally.
The newly established SMWS Taiwan subsidiary replaces the
existing franchise agreement and provides direct sales access to
the Taiwanese market. Taiwan is the world's third-largest market
for Ultra-Premium Scotch Whisky, based on value, with an estimated
total addressable market of $593 million (source: IWSR 2022). It
marks the next milestone in the Group's strategic expansion in Asia
where SMWS already has similar subsidiary operations in China and
Japan as well as franchise partners in a range of markets,
including new partners in Malaysia, and a recently established
franchise agreement in South Korea.
In the first day of trading, SMWS Taiwan enrolled 500 paying
members. The Group plans to now drive sales and engagement through
the SMWS website, in-person events and digital marketing , as well
as social media activity, building on launch activity for media,
whisky clubs, brand ambassadors and retailers.
Under the terms of the agreement, the Group will hold 70%
ownership of the entity. The subsidiary is led by an experienced
management team of Murphy Chang, former Brand Heritage Manage r for
Moët Hennessy Taiwan , as Country Director who will have
operational responsibility, supported by Eric Huang , the former
franchise partner and one of the foremost whisky experts in Asia ,
as SMWS President and Andrew Dane ( CEO of The Artisanal Spirits
Company) as Chair of the Taiwan entity .
Andrew Dane, CEO of The Artisanal Spirits Company,
commented:
"Taiwan is one of the world's largest and most sophisticated
whisky markets. The new subsidiary expands our footprint in Asia
and gives us direct access to this exciting territory, helping us
to capture demand for our unique combination of ultra-premium and
limited-edition whiskies and outstanding experiences and
knowledge.
"Launching the Taiwan subsidiary was a key strategic objective
for 2023 and we are delighted that this has been delivered so
successfully. We now have an SMWS presence in the world's six
largest markets and our full global footprint giving us coverage of
over 80% of the $8.1 billion Ultra-Premium Scotch Whisky Market
(2022 IWSR). We look forward to welcoming many new members to the
Scotch Malt Whisky Society in this market as we continue to expand
our reach across Asia."
For further enquiries:
The Artisanal Spirits Company plc via Instinctif PR
Andrew Dane, Chief Executive Officer
Billy McCarter, Chief Financial Officer
Liberum Capital Limited (Nominated Adviser and Broker) Tel: +44 (0) 20 3100 2222
Clayton Bush
Edward Thomas
Miquela Bezuidenhoudt
Instinctif Partners (Financial PR) Tel: +44 (0)20 7457 2020
Justine Warren
Matthew Smallwood
Joe Quinlan
About The Artisanal Spirits Company
The Artisanal Spirits Company (ASC) are curators of the world's
favourite, single-cask and limited-edition whisky.
Based in Edinburgh, ASC owns The Scotch Malt Whisky Society
(SMWS) which was established in 1983 and currently has a growing
worldwide membership of over 38,000 paying members.
SMWS provides members with inspiring experiences, content and
exclusive access to a vast and unique range of outstanding single
cask Scotch malt whiskies and other craft spirits, with current
stocks sourced from over 100 distilleries in 20 countries and
expertly curated with diligence and care.
Since producing the Society's very first cask, we have created
around 10,000 different whisky releases, producing a constant flow
of unique and exciting one-of-a-kind whiskies.
With proven e-commerce reach and new brands like J.G. Thomson,
ASC is building a portfolio of limited-edition and small-batch
spirits brands for a global movement of discerning consumers -
delivering c.GBP22 million in annual revenues with over 80% of
revenue generated online and over 65% from outside the UK, with a
growing presence in the key global whisky markets including UK,
China, USA and Europe.
ASC has a pioneering business model, a substantial and growing
addressable market presenting a long-term global growth opportunity
and a strong and resilient business primed to deliver growth.
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