twenty ninth June, 2021 by Kate Malczewski
Whisky barrel market Cask Commerce has opened an workplace in Hong Kong that can serve buyers throughout the Asian market.
Cask Commerce was founded in 2018 with the purpose of making an ‘open and trustworthy market’ for whisky lovers and bottlers.
The London-based whisky funding service has determined to arrange an arm in China after experiencing a 25% improve in its enterprise in Asia, and forecasts a minimal 25% improve in gross sales with the addition of its new workplace.
Cask Commerce stated its companies will enable clients in Asia to buy barrels of whisky at UK costs, that are ‘considerably decrease’ than the market normal, for the primary time.
Simon Aron, managing director and co-founder of Cask Commerce, commented: “By opening in Hong Kong, we’re addressing a requirement from present and potential clients all through Asia providing direct entry to casks for no matter function, at aggressive UK costs with full transparency and a seamless service.”
In keeping with Euromonitor Worldwide figures cited by the corporate, worth gross sales of whisky in China are predicted to succeed in about £2.2 billion (US$3bn) by 2022 – a 38.6% improve from 2018.
The enterprise’ Hong Kong operations will probably be led by John Wong, who notes that the East Asian market is dwelling to “extremely expert and educated” customers.
“Drinkers from Higher China and Asia Pacific are at all times in search of a various vary of style and flavour profiles in whisky,” he stated.
“They search for rarity and funding alternatives with tales behind the liquid. With me on the bottom in Hong Kong, I can immerse myself into the whisky neighborhood as a result of there’s nothing higher than assembly nose to nose with a dram in your hand.”