RCS - Artisanal Spirits Co - Launch of SMWS Taiwan

Artisanal SpiritsAnnouncement

22/08/2023 07:00

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RNS Number : 9939J  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 Manager 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.£22 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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