Salcombe Gin launches crowdfunding campaign
Salcombe Gin, which has recently launched a new partnership with Fortnum & Mason, has has launched a crowdfunding raise on Republic Europe to raise £250,000.
The public phase of the campaign launched on September 30 and achieved 98% of the funding target within 48 hours of launching. The campaign will run until October 30 2024 allowing for overfunding.
Owned by Salcombe Distilling Co., Salcombe Gin was established in 2014 by Angus Lugsdin and Howard Davies.
Subject to securing sufficient additional investment, Salcombe Gin will capitalise on growth opportunities in global markets.
Lugsdin said: “Despite a decline of the UK gin market in 2023, the future for gin remains bright. Around 5.5 million cases of gin are consumed annually in the UK and consumption is still 60% above the pre-boom trend in 2013, with the opportunity for sustained growth in specific segments. UK sales are 24% higher than pre-pandemic levels and the category showed global growth of 4% in 2023 (The Spirit Business June 24, citing IWSR Drinks Market Analysis).
“We believe that we are perfectly positioned to take advantage of the growth we have seen in global travel retail in the last 12 months and the strong growth in export markets with export consumer increased demand for ultra premium British gins.”
The brand has also recently announced a collaboration with Fortnum & Mason.
Salcombe Gin x Fortnum & Mason Moscatel Cask Aged Gin 2024 Release is a special edition new single cask aged gin.
Lugsdin added: “We are very excited for this next phase of growth as we look to leverage our successes to date and use the investment raised, to invest further in advertising and promotion to support growing sales in key markets including travel retail and duty free.”
