Whisky by Time News Round Up – September 2023
Schools back and so is the Whisky by Time News Round Up. We start the month by bringing you the latest whisky news from the UK, America, India, Hong Kong and France.
It’s been a busy summer with interesting updates from a growing global industry. In this edition, you can read how Pernod Ricard credits whisky for boosting profits, the staggering estimated value of a 55-year-old Bowmore Islay single malt, Rod Stewart’s plans to ‘rock’ the American whisky market, and get insights on the India free trade agreement.
We also update you on the Advertising Standards Authority (ASA) decision to ban “misleading” advertising campaigns by two UK whisky cask investment companies. You know our advice here if something sounds too good to be true it probably is. We’re pleased to see the ASA take companies to task. Transparency and trust are such an important part of a broker’s work and something you can always expect from the Whisky by Time team.
Have a great September
Oliver O’ Donovan
Founder of Whisky by Time
Whisky is highlight for Pernod Ricard – annual profit rises to 3.3billion
The Scottish Times and other media reported on how Scotch whisky has helped to increase Pernod Ricard’s profits and sales.
The French spirits and wine group said its annual profit had risen by 11 percent to €3.3 billion, achieving a 10 percent rise in annual net sales to €12.1 billion.
Organic Scotch whisky sales grew by 17 percent in the year, with robust performances in Asia and the United States. That outstripped 11 percent growth in Irish and Indian whiskies, as well as vodka, cognac, and brandies, while gin was up 8 percent.
55-year-old Bowmore Single Malt unveiled and valued at a record sum
In late August, the projected costs of the Bowmore Islay Single Malt Scotch Whisky hit the national and international headlines. Bowmore’s oldest whisky is expected to sell for between £300,000 and £500,000.
Bowmore is donating the bottle to the Distiller’s One of One Charity Auction, which is set to take place Oct. 5 to raise funds for disadvantaged young Scottish adults through the Youth Action Fund.
Bowmore STAC 55 Years Old is presented in a 1.5-liter, handblown glass sculpture.
Scotch Whisky Secures Trademark Protection in Hong Kong
The Scotch Whisky Association (SWA) has successfully registered “Scotch Whisky” as a Certification Trademark in Hong Kong. Trademark recognition means that the description “Scotch Whisky” can only be used on whisky produced in Scotland in accordance with strict production and labeling requirements. Requirements include that Scotch only be made from the raw materials of water, cereals, and yeast and matured in Scotland for at least three years in oak casks.
Lindesay Low, Deputy Legal Director at the Scotch Whisky Association, said: “Hong Kong is an increasingly important market for Scotch Whisky, with exports to the region worth more than £31m in 2022. Improving protection of Scotch Whisky in developing markets is a priority for the SWA Legal Team, as consumers in these markets explore and expand their knowledge of Scotland’s national drink.
“Misleading” advertising by two whisky cask investment companies banned
In late August, Whisky Magazine reported on how the UK’s Advertising Standards Authority banned ‘misleading’ cask investment ads by two whisky cask investment companies.
The ASA ruled that Blackford Casks (trading as Whisky Investment Partners) and London Cask Co. had made “misleading” claims in their campaigns and promotions about potential returns on investment and the risks involved in investing in whisky casks, as well as on fees, terms, and conditions that applied to customer contracts.
The body published the results of its investigations into the two companies on 23 August. Of the four issues that were investigated against each company, all were upheld.
India whisky tariff agreement to be reached by end of the year?
This recent Drinks Business article hints that an end could be insight on Free Trade negotiations with an end-of-year deadline mooted. Journalist Ron Emler tells us more.
Rod Stewart takes Wolfies Blended Scotch to the US Market
In August Rod Stewart took his whisky on tour launching to the US market. Distilled on the banks of Loch Lomond by an expert team Wolfie’s Blended Scotch Whisky is a 40% ABV blended Scotch.
“Wolfie’s has been a triumph across the UK and Europe and following the path of my early career, our goal is to take Wolfie’s across the pond and introduce this fine tipple to my fans in the US,” said Rod Stewart.
Oh la la – new historical book on French whisky
Coinciding with French Whisky Month this September, the publication of a new historical book on French Whisky is set to hit shelves in France. Une Brève mais Intense Histoire de Whisky Français (A Brief but Intense History of French Whisky) covers the whisky landscape in France from experiments and early bottlings in the 1980s to the present day.