East London Liquor Company, the distillery backed by the founders of Camden Town Brewery and Barworks, has launched a Crowdcube campaign to raise £750,000.
The funding will drive English whisky production and domestic sales channels, leading to global sales opportunities in emerging markets such as China.
East London Liquor Company was founded by former bartender, Alex Wolpert in 2014, and has sold 327,764 bottles of spirits in the UK, delivering £4.25m in sales.
The business is currently valued at £15m and aims to build annual bottle sales to 46,000 9L cases (592,000 bottles) in 2022, delivering sales revenue of £9.8m.
The company’s five-year plan forecasts a total of 1.8m bottle sales over that period driven by 30% yoy growth. Total sales revenues for the five-year period will be £28.7m.
This growth is forecast to be driven primarily by English whisky and gin sales across the USA, Canada and China.
East London Liquor Company already exports to 20 countries, including Japan, Germany, Australia and Sweden, but capital raised during its Crowdcube campaign will help to capitalise on global sales opportunities.
Wolpert said: “We have been overwhelmed by the level of interest from the UK and global markets for our honestly-priced spirits and our straightforward approach to distilling.
“Together, both established and emerging markets represent a massive opportunity for British brands. Brexit poses a challenge to our industry, but the funds raised through this campaign will help us to tear down these barriers.”
East London Liquor Company s backed by the executive team behind Barworks, Camden Town Brewery and Thomson & Scott, made up of Andreas Akerlund, Jasper Cuppaidge, Marc Francis-Baum, Patrik Franzen and Scott Chillery.