Brockmans Gin toasted record results for the year to the end of December 2016 as burgeoning interest in premium spirits shows no sign of slowing.
The super-premium gin maker said total revenue was up an eye-watering 87 per cent to £5.4m for 2016, compared with £2.9m the previous year.
UK revenue increased 245 per cent while sales were up 56 per cent in Spain, 66 per cent in the US and 145 per cent in the rest of the world.
Sales volumes jumped 67 per cent to more than 40,000 nine-litre cases - or about 15m shots - as the company entered 11 new international markets.
Why it's interesting
Brockmans, which launched in the UK in 2008 and is now labelled one of the fastest-growing super-premium brands, has an average annual growth rate over the past seven years of more than 100 per cent as the popularity of premium tonics and classic gin-based cocktails captures the imaginations of new, young customers.
The UK gin market smashed the £1bn barrier for the first time in 2016, and Brockmans took advantage of growing interest as it made 50 new supply agreements with the likes of Marks & Spencer, Punch Taverns and Harvey Nichols.
More than 80 per cent of revenue came from overseas, the company said. It is now sold in 27 markets with seven new territories expected to go live by the summer.
What Brockmans said
Neil Everitt, joint founder and chief executive, said the group is seven years into a 10-year plan to boost sales to 100,000 cases a year.
"We are firing on all cylinders and continuing to disrupt this rapidly growing market by extending gin sales from the golf and cricket club to gastro pubs and nightclubs."
Our home market of the UK was the real star turn with volumes boosted by more than 50 new retail and wholesale customers. The UK market for super-premium gin is expected to have overtaken Spain during 2016 and is forecast to keep growing rapidly. That trend, combined with Brockmans’ own continued rapid growth, will likely make the UK our biggest market within the next few years.
“In the US, Brockmans is either the fastest or second-fastest growing brand in each of the states we are operating in, after just two years. This gives us confidence to plant the Brockmans’ flag in other parts of the country, which we will do during 2017."